A brief guide to get the Insurance premium refund
In addition to premium visitors to Canada health insurance, what concerns most people is the refund policy.
In a world fraught with private medical emergency coverages and additional special programs for immigrants and visitors like Super visa insurance and Manulife insurance visitors to Canada, there are some ways in which an insured individual becomes eligible for a certain amount of refund.
What does a refund mean?
In the easiest and the simplest words, the refund is the amount of payment an insured individual is entitled to, because of the coverage that was left unused.
Usually, people receive their refunds if they are leaving Canada before their insurance could get expired or if they get insurance from the government of the province they are residing in.
Most importantly, to be eligible for the refund, there must never be any claims made by you during the coverage period. Another scenario that can get you eligible for a refund, is if you have been unable to visit Canada at all. The latter situation gets you a 100% refund minus your cancellation fee.
Currently, there are two major types of premium refunds, i.e. Full premium refund and Partial premium refund.
Full premium refund
In the majority of cases, a full refund is available, if it gets cancelled due to non-travel to Canada, either it is due to visa denial or travel restrictions.
However, you must send the refund request before the coverage period could commence. You must also attach necessary documentation that supports your reasons for insurance cancellations.
Another notable thing you should bear in mind is that a lot of insurance providers have a right to review the policy provisions. This allows you to cancel the insurance and receive a 100% within a 10 days period of your purchase. However, this too should transpire before the starting of your provincial policy.
Furthermore, you should know that refund conditions keep varying depending upon the insurance provider and the visa type.
In case, your travel application gets denied by IRCC, you can easily prove your claim and get a full refund irrespective of who the insurance provider is.
Partial premium refunds
Unlike the full premium refunds, the policies for partial reimbursement are a bit different.
The major and the most common reason for the partial refund is an early departure from Canada.
In simpler words, if you have to leave Canada before your insurance could get expired, you are in a position to claim a partial refund. Understandably, the amount of refund would depend on the days or month the insurance was left unused. However, you should also make sure that there are no prior claims made by you.
To receive your due refund, because of your early departure, you are required to send a copy of your boarding pass along with a complete cancellation form.
You can also cancel your insurance policy and claim the partial reimbursement if you get eligible for a provincial insurance plan in Canada.
However, you would be required to submit a copy of your healthcare programme along with the enrollment letter of provincial insurance.
The refund policies and the Canadian insurance
Although many Canadian insurance providers have more or less the same policies for refund, they are not exactly identical. Down below, is a list of some refund policies.
The destination travel group
For destination travel group, you can get the refund if:
a. You cancel the insurance within 10 days of your purchase before the policy could start.
b. In case of visa refusal and extreme medical emergency.
c. If you need to leave Canada before the policy could start
d. If you get covered by a provincial insurance plan.
Super visa insurance can be really pricey for some individuals, therefore if you are unable to make the most of it, you should claim the refund. It is best to keep yourself informed about the changing policies, as it helps you to retrieve back your money.
Always, keep the count of the number of days left for your insurance policy and the number of days left for it to end.