Last updated on August 15th, 2022 at 02:00 pm
On July 8th, one of our insurance companies is coming out with a new Monthly Payment Option for the Parent and Grandparent Super Visa (PG-1) applicants, who require a minimum of $100,000 medical insurance coverage for one year.
How does it work?
When purchasing the Super Visa insurance the clients will be able to pay only a deposit towards the total premium, pending the approval of their PG-1 application by CIC. The deposit will be paid by a credit card and will be equal to the 2 months worth of the annual premium PLUS $50 policy fee. When the Super Visa is issued and before the arrival to Canada, the client will notify the company of the exact arrival date and the policy will then be activated and regular monthly payments from the credit card will commence on the effective date for the remaining 10 months of the premium. That premium must always be paid at least two months in advance. This option will also be available to those extending their Super Visa insurance beyond the first year, allowing the clients to pay monthly for the whole duration of their stay in Canada.
- If the Super Visa is refused by CIC the client will receive a refund of their deposit, except for the $50 fee.
- If the client returns to their country of origin before the year expires, the monthly billing will stop as long as proof of departure, such as boarding passes is provided. Any refund for early return will be subject to $25 administration fee.
- For brief returns to the country of origin, the policy can be left in effect and the monthly credit card billings will continue and coverage will resume once the client returns to Canada.
Those are great news for clients who want to invite their loved ones to visit them in Canada but yet cannot afford to pay for the insurance at once.
To check prices and apply please visit our Super Visa Insurance Quotes Calculator page.
Please call our office at 1-877-211-4301 for more information about this great plan.