Super Visa Insurance Refunds
There are a number of cases in which insurance policyholders may need to seek a full or partial refund of the premium paid for their super visa insurance. It is therefore important to consider the refund policy of each insurance company before purchasing super visa insurance. In general, super visa insurance refund policies are more important for applicants who may not qualify for the super visa, and those who are only planning a short trip to Canada.
Super Visa Rejections
Normally, foreign visitors only purchase Visitors-to-Canada insurance after receiving their visa. However, super visa applicants are required to submit proof of insurance with their visa application. As a result, clients whose applications are rejected must seek a refund of their insurance premium. Fortunately, in the majority of cases, full refunds are available for those whose visas are denied. Some insurance companies may ask for a copy of the letter of denial from Citizenship and Immigration Canada (CIC) though, so be sure to keep this letter.
A problem sometimes arises when visa applicants allow their policy to come into effect while waiting for a decision on their visa application. While most insurance companies will still provide a full refund, some insurance companies will only provide a partial refund on policies that have already come into effect. Therefore, be sure to extend the effective date of your policy if there are delays with your visa application.
Change of Plans
The application process for super visas can take several months. During this time, plans can change, and some visa applicants may decide not to visit Canada. In this case, most insurance companies will still provide a full refund. However, there are now several companies that will charge a policy cancellation fee ranging from $100 to $250 in the event that the visa holder withdraws their application before receiving a decision from CIC, or decides not to visit Canada after receiving a visa.
Even though some super visa applicants only plan on visiting Canada for a short period of time, they are still required to purchase a one-year insurance policy. As a result, many super visa holders apply for a partial policy refund when they leave Canada. Most policies allow for partial refunds, though some policies will state in the summary that they are non-refundable after they come into effect. Partial refunds are normally calculated on a pro-rata basis, meaning that a refund equivalent to the number of unused days left on a policy is available. Several companies charge a processing fee for partial refunds, typically $25.
Policyholders should note that in some situations, refunds are not available. First of all, refunds are never available if a claim has been made on a policy. Be careful, as some companies consider any “use of the insurance”, including calls to their medical help line, to be a claim, even if no reimbursement is made. In addition, each policy has a minimum dollar amount or number of unused days that is eligible for a partial refund.