Super Visa Insurance – Monthly Plan No Longer Accepted
On August 2nd, 2022 the IRCC announced that they will not accept policies which are not paid in full amount for a year under the Super Visa applications for parents and grandparents. Here is the link to official IRCC website – Super Visa Requirements.
This news may not be good for many people, as the monthly plan was a great tool since 2013 assisting people in paying the insurance in installments.
We are doing our best to help our clients to adjust to these changes by offering a huge selection of many affordable plans under supervisa insurance.
If you are a client with us and bought the supervisa insurance under a monthly plan, we will need to change it to a lump sum payment plan immediately to pay the policy in full for the entire 365 days.
If you are buying a new Insurance policy under supervisa, please ensure that you buy a full payment plan. There are a few things you could do if you are tight in cash
You could choose the higher deductible now and pay less. You could reduce this deductible before your parents are about to come.You could choose a plan which doesn’t cover the pre existing conditions and get it changed before your parents come, as per their health situation.
The decision from IRCC may be reversed as some companies are in contact with them. But nobody knows it for certain that what would be the outcome of this and when.
Make sure you check all the options with your insurance advisor before you buy.
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