Super Visa Health Insurance - Help please

[longest_wait]

Greeting everyone,

First, I'll admit that I tried to google search and look around the forum for something that can explain to me more about the Super Visa health insurance.

I am worried that I'll fall unto the hand of brokers, so I'd appreciate real people who have real experience of how this works.

Can someone please explain to me what the deductible is? is it a monthly payment? is it better to go for a low or high deductible option and why?

My parents are 55 and 59 (one with a history of diabetes, stable and it hasn't caused him any issues in the past few years). They plan to visit me for 6-7 months then leave, there is also a chance that they may travel in between these months.

I am not sure what to pick for them, in terms of a cost effective plan, low or high deductible, and one that might refund our payment if visa is cancelled or if they decide to to come anymore or leave after a few months.

There a number of health isnurance providers that I found while searching (GMS, Travelinsure.ca, Arbetov Insurance, etc).

I'd greatly appreciate your help as I am not familiar with all this, and all the info I find are from the service providers which is pretty much tailored to their advantage.

 

[scylla]

No - the deductible is not the monthly payment. The deductible is the amount you or your parents must pay before the insurer will pay any expenses through the policy. For example, let's say the insurance policy has a hospitalization deductible of $10,000. This means that if your parents are hospitalized, you/your parents must cover the first $10,000 in expenses - then anything over $10,000 will be covered by the insurance company.

You have to decide if you want a low or a high deductible. A low deductible means that you/your parents have to pay less money in the event something happens - but the monthly costs of the insurance policy will be more. If the policy has a high deductible, then the monthly premiums will be lower.

 

[longest_wait]

Thank you very much Scylla. Your answer was brief but I couldn't have understood it more, amazing!

No - the deductible is not the monthly payment. The deductible is the amount you or your parents must pay before the insurer will pay any expenses through the policy. For example, let's say the insurance policy has a hospitalization deductible of $10,000. This means that if your parents are hospitalized, you/your parents must cover the first $10,000 in expenses - then anything over $10,000 will be covered by the insurance company.

You have to decide if you want a low or a high deductible. A low deductible means that you/your parents have to pay less money in the event something happens - but the monthly costs of the insurance policy will be more. If the policy has a high deductible, then the monthly premiums will be lower.

 

[Keephope]

Deductible is what Scylla explained above, high deductible less premium, low deductible high premium.

I just applied for my in-laws online on their behalf, we bought from GMS, they are pretty reasonable, but if you have some sort of health issue history, premium(insurance cost) might be more.

My mom 57, dad 61 no health issues, we got $ 1000.00 deductible and paid 2500 for both in full for one year (so there's no monthly pmt for one year) , now if something happens and cost us $ 5000.00, then we have to pay $ 1000.00(deductible) and insurance will cover the rest.

Lets say you have 0 deductible, that means if something happens and cost you anything, you don't have to pay single dollar from your pocket, insurance will cover everything, but in this case your insurance cost which is called the premium will be really high.

It's upto you to choose the deductible option and the premium based on the quote you get. Call GMS and get a quote emailed or call different agents and get quotations for different companies and choose what you can afford. You can get it over the phone when you are ready, just have your parents info and visa for pmt. ready and the medical policy will be emailed to you right away.

Hope this helps.