Over the past several weeks,
people from all over the world have been shaken up by the novel threat we now know as COVID-19.
Although we might feel overwhelmed by circumstances surrounding the
current situation, it is important to keep your head cool in order to reduce the less obvious risks that can encompass every part of our lives, if we are not careful...read more
While the world is still reeling from the new coronavirus and travel restrictions are still in place for most countries, Canada recently gave a definition to what exactly essential travel means.
Currently, travelers such as temporary foreign workers, international students and immediate relatives of Canadian residents are exempt from Canada’s travel restriction. However, they now must make evident that their trip is for an essential reason..... read more
Thank you for your interest to our news,
Certified Financial Planner and Insurance Agent, Michael Arbetov.
If you are a Super Visa applicant, Visitor, IEC / Working Holiday visa holder or a new immigrant- you probably need to obtain insurance coverage from a Canadian Insurance company. To make it easier for you we have put together a comparison among all insurance companies in terms of affordability,
reliability and benefits offered.
Most Affordable Plans
If you are looking for a basic policy that covers most
important aspects in terms of medical care - the companies below would do the trick. Most of them are smaller companies with small companies’ appeal - lower prices and exceptional attention to customers. All of them cover medical expenses, hospitalization and repatriation with total coverage of $100,000 or more. They also boast competitive benefits in terms of prescription drugs (GMS,
Travelance Premier), repatriation and follow up visits.
Value plans come from bigger, well known established companies. The leaders among them are Manulife and TIC. Manulife is tried and tested and is currently the largest insurance company in Canada. TIC is a great company with excellent customer service and competitive benefits.
For Visitors to
Canada 69 years and under TIC offers a new “InpatriatestoCanada” policy, which covers one Physical Examination per year, one Eye Examination per year and some Vaccinations, as well as some coverage for Maternity
Excited to start your new life in Canada? Or returning home after a long time abroad? Your bags are packed and tickets booked but is there something missing?
Whether you are landing in Ontario, British Columbia, Quebec or New Brunswick- in most cases you will have
to wait until provincial coverage kicks in. Make sure you familiarize yourself with those limitations and the ways to protect yourself during your stay. During the waiting period, you may be able to purchase private health insurance through a private insurance company if you meet the company’s eligibility requirements.
OHIP – Ontario
The waiting period begins on the date you establish or re-establish residence in Ontario. If you are an eligible temporary resident, such as a foreign worker who meets the citizenship and residence requirements described in Ontario’s Health Insurance Act, the waiting period begins on the date you establish residence in Ontario.
MSP – British Columbia
New residents or persons re-establishing residence in B.C. are eligible for coverage after completing a wait period that normally consists of the balance of the month of arrival plus two months. For example, if an eligible person arrives
during the month of July, coverage is available October 1. If absences from Canada exceed a total of 30 days during the wait period, eligibility for coverage may be affected.
New Brunswick and Quebec
Generally speaking, if you arrive in Québec from outside Canada, even if you are a Canadian citizen, you will be eligible for the Québec Health Insurance Plan after a waiting period of up to 3 months following your registration.
You will not be reimbursed for healthcare you receive during the waiting period. To
save you from having to pay for any healthcare services that you or your family members may need, it is strongly recommended that you take out private insurance within 5 days following your arrival in Québec. Thereafter, coverage is more difficult to obtain.
Does my provincial health insurance plan cover all my health care needs? Millions of Canadians who don’t have an employer sponsored group plans might be asking the same questions. Here is some brief information on the Health care system in Canada.
Canadian health care system consists of multiple tiers. The first thing that comes to mind isGovernment Health Care.It is funded through
general tax revenue and in some provinces- by means of collecting monthly premiums. This plan covers medical care and hospitalization in a broader sense. Some important elements of what we think is medical coverage are missing from your provincial plans.
You can apply for dental coverage only if that is what you are looking for. Benefits will accumulate over years, giving you
greater coverage after second or third year. Some companies include basic extended health benefits with their dental plans.
Go for premium Dental Plans if you require extensive services as well as crowns, bridges and dentures.
Extended Health Benefits
Supplementary health benefits usually include some or all of the following categories.
Accidental Death/Dismemberment benefit
Prescription Drugs Coverage
Travel Insurance up to $1,000,000.
Specialists/Therapists- health care practitioners such as chiropodist and chiropractor.
Arbetov Insurance- We will help you choose the best Medical Insurance plan for the Canadian visitors or New Immigrants
according to your specific needs. We are offering medical emergency insurance packages for the Super Visa applicants, regular Visitors to Canada, International Experience Canada participants as well as Canadian PRs and Citizens travelling abroad.
We will also consult you regarding Life Insurance, Critical Illness Insurance, Disability Insurance, Health & Dental Insurance and Welfare Trusts.