Aarna Insurance is a family-owned business with a long-standing tradition of excellence. We are proud to be one of the foremost insurance advisors, dedicated to serving our valued clientele and delivering optimal solutions to meet their unique needs.
A Super Visa Insurance policy is a mandatory requirement for individuals applying for a Super Visa to visit their family members or relatives in Canada. It provides coverage for medical emergencies and healthcare expenses during the visit.
Parents and grandparents of Canadian citizens or permanent residents who wish to visit Canada on a Super Visa need to purchase Super Visa Insurance
Super Visa Insurance typically covers emergency medical expenses, hospitalization, medical evacuation, and repatriation of remains.
Yes, Super Visa Insurance is mandatory for all applicants of the Super Visa program. It's a prerequisite for obtaining the visa.
The Super Visa Insurance policy must be valid for the entire duration of the intended stay in Canada and have a minimum coverage amount.
The minimum coverage required for Super Visa Insurance is $100,000.
No, Super Visa Insurance must be purchased from an insurance company authorized to sell insurance in Canada. The policy must meet specific criteria outlined by Citizenship and Immigration Canada.
Yes, some insurance providers allow for the extension of Super Visa Insurance while in Canada, provided there are no claims against the policy and it hasn't expired.
It's crucial to ensure your Super Visa Insurance remains valid for the entire duration of your stay in Canada. If it expires while you're in the country, you risk being uninsured for any medical expenses incurred.
Coverage for pre-existing conditions varies among insurance providers. It's essential to review the policy terms and conditions to understand what is covered.
Yes, Super Visa Insurance policies can typically be canceled, but refunds may be subject to the insurance provider's terms and conditions.
You'll generally need to provide proof of identity, passport details, and information about your intended stay in Canada to purchase Super Visa Insurance.
Dental care is not usually included in standard Super Visa Insurance policies. However, some policies may offer optional dental coverage for an additional fee.
The processing time for obtaining Super Visa Insurance can vary depending on the insurance provider and the complexity of your application. It's advisable to apply well in advance of your planned travel date.
No, Super Visa Insurance must be purchased before arriving in Canada. It's a prerequisite for obtaining the Super Visa.
Failure to have valid Super Visa Insurance may result in your Super Visa application being denied or your entry into Canada being refused.
No, standard travel insurance policies do not meet the requirements for Super Visa Insurance. You must purchase a specific policy that meets the criteria set by Citizenship and Immigration Canada.
Yes, you can typically include your spouse in your Super Visa Insurance policy by purchasing additional coverage for them.
The maximum age limit for purchasing Super Visa Insurance varies among insurance providers but is typically around 85 years old.
To make a claim under your Super Visa Insurance policy, you'll need to contact your insurance provider and follow their specific claims process, which usually involves providing documentation of the medical expenses incurred.
There are some restrictions that the Canadian government sets out regarding importing prescription medications (whether you are a Canadian citizen or a visitor): Generally, you are limited to bringing two 90 days (total 180-day supply). So, trying to bring in a whole year's supply may cause some problems at the border.
Hospital costs for visitors to Canada can amount to well over $3,000 per day, and air ambulance charges to return you home could quickly be in the tens of thousands of dollars. The minimum purchase for application purposes is $100,000. Although sometimes a $150,000 policy could be even lower cost (we have a discount policy available under age 60) to provide more peace of mind.
We do know companies that offer discounts for companion travel or larger group travel insurance policies. Your quote will determine if such a discount could be applied.
We do not charge any extra fees. We strive hard and use all our expertise to get you the best rates with the best possible coverage on behalf of our clients. Canadian insurance regulations don't allow the insurance companies to charge different rates than brokers, and brokers can't charge extra fees over and above the advertised rates. The insurance company representatives are paid to sell what the company has to offer — even if it doesn't fit the customer's situation. It becomes even more important to have us as your broker, when the policy involves pre-existing conditions. We have extensive knowledge and experience to get you the right policy in this regard. We have often noticed and heard feedback from our clients that insurance company advisors giving them a standard response and not detailed information about the coverage of pre-existing conditions. By using us as your broker, we work on your behalf to find you the best policy and to help you manage the decisions around your insurance choices. We'll help change dates, get extensions, and advise you during the refund or claim time if you need additional guidance. That's something that the insurance claims adjuster won't do.
Life Insurance policy
Life insurance is a contract between an individual and an insurance company, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person in exchange for premium payments.
Life insurance provides financial protection to your loved ones in the event of your death. It can help cover funeral expenses, replace lost income, pay off debts, and ensure your family's financial stability.
The main types of life insurance in Canada are term life insurance, whole life insurance, universal life insurance, and critical illness insurance.
Term life insurance provides coverage for a specified term, typically 10, 20, or 30 years. It pays out a death benefit if the insured dies during the term of the policy.
Whole life insurance provides coverage for the entire life of the insured person, as long as premiums are paid. It also includes a cash value component that grows over time.
Universal life insurance combines a death benefit with a savings component. Policyholders can adjust their premiums and death benefits over time, and the cash value earns interest.
Critical illness insurance pays out a lump sum benefit if the insured is diagnosed with a covered critical illness, such as cancer, heart attack, or stroke. It provides financial support to cover medical expenses and other costs during recovery.
The amount of life insurance coverage you need depends on factors such as your income, debts, expenses, and financial goals. A general rule of thumb is to have coverage equal to 5-10 times your annual income.
It's important to assess your financial needs, budget, and long-term goals when choosing a life insurance policy. You may want to consider factors such as the length of coverage, premium costs, and the level of flexibility offered by different types of policies.
The cost of life insurance premiums is influenced by factors such as your age, health, lifestyle, occupation, coverage amount, and type of policy. Generally, younger and healthier individuals pay lower premiums.
Depending on the type of policy you have, you may have options to adjust your coverage, premiums, and other policy features over time. It's essential to review your policy regularly and consult with your insurance provider to explore any available options.
If you miss a premium payment, your life insurance policy may lapse, meaning you lose coverage. However, many insurers offer grace periods during which you can make late payments without penalty. It's crucial to understand your policy's terms and conditions regarding premium payments.
With certain types of permanent life insurance, such as whole life and universal life, policyholders can borrow against the cash value of their policy. This can provide access to funds for various purposes, but it's essential to consider the potential impact on the policy's death benefit and cash value growth.
To file a life insurance claim, the beneficiary typically needs to submit a death certificate and any other required documentation to the insurance company. The insurer will review the claim and, if approved, will pay out the death benefit to the designated beneficiary.
In most cases, life insurance benefits paid out to beneficiaries are not taxable in Canada. However, there may be exceptions for certain types of policies or if the policyholder's estate is subject to other taxes or fees. It's advisable to consult with a tax advisor for specific guidance on your situation.
Yes, you can usually cancel your life insurance policy at any time by contacting your insurance provider. However, depending on the type of policy and its terms, you may incur fees or penalties for early termination. It's essential to review your policy documents and understand any potential consequences before canceling.
Yes, many insurance companies offer life insurance coverage for seniors, although premiums may be higher due to age and other factors. There are specialized policies, such as guaranteed issue life insurance, designed for seniors who may have difficulty qualifying for traditional coverage due to health issues.
The need for a medical exam depends on various factors, including your age, health, coverage amount, and the type of policy you're applying for. While some policies require a medical exam as part of the underwriting process, others offer simplified or guaranteed approval without medical tests.
Yes, you can typically name multiple beneficiaries on your life insurance policy and specify the percentage of the death benefit each beneficiary should receive. This allows you to provide for different individuals or organizations according to your wishes.
If you move to another province or country, your life insurance policy usually remains in effect as long as you continue to pay premiums and comply with the policy's terms and conditions. However, it's essential to notify your insurance provider of any changes to your contact information or residency status to ensure uninterrupted coverage.
Permanent Life Insurance policy
Permanent Life Insurance is a type of life insurance that provides coverage for your entire life, as long as premiums are paid, unlike term life insurance which covers you for a specific term.
Permanent Life Insurance combines a death benefit with a savings component. A portion of your premium goes towards the insurance coverage, and the rest goes into a cash value account, which earns interest over time.
There are several types, including Whole Life, Universal Life, and Variable Life Insurance. Each type has its own features and benefits
Permanent Life Insurance offers lifetime coverage and a cash value component that can grow over time, providing additional financial benefits.
The cost of Permanent Life Insurance depends on factors such as your age, health, coverage amount, and the type of policy you choose. It's generally more expensive than term life insurance.
Yes, you can borrow against the cash value of your policy through policy loans. However, it's important to repay these loans with interest to avoid reducing the death benefit.
Depending on the type of policy, there may be options to use the cash value to cover premiums temporarily or convert the policy to a reduced paid-up status. Otherwise, the policy may lapse.
Yes, many insurance companies offer options to customize your policy with additional coverage, riders, and investment options to suit your specific needs.
No, the death benefit paid out to beneficiaries is generally tax-free under Canadian law.
Some insurance policies offer conversion options that allow you to convert your term policy to permanent coverage without undergoing a medical exam.
You should consider factors such as your financial obligations, income replacement needs, outstanding debts, and future expenses when determining the appropriate coverage amount.
Yes, many insurance companies offer riders that can provide additional benefits such as coverage for critical illness, accidental death, or long-term care.
- If you surrender your policy, you'll receive the cash value minus any surrender charges or outstanding loans. This amount may be subject to taxation.
No, premiums paid for Permanent Life Insurance policies are generally not tax-deductible.
Some policies allow you to adjust the death benefit amount over time, subject to certain limitations and underwriting requirements.
In Canada, life insurance policies are protected by Assuris, a non-profit organization that provides protection to policyholders in the event of an insurance company failure.
Yes, you can assign ownership of your policy to another individual or entity, but this may have tax implications.
Yes, you can surrender your policy and receive the cash value, but this may have tax consequences and may not be advisable depending on your financial situation.
It's a good idea to review your policy annually or whenever there are significant changes in your life circumstances, such as marriage, the birth of a child, or a change in income.
Permanent Life Insurance may not be suitable for everyone, as it tends to be more expensive than term insurance and may not be necessary for individuals with no dependents or significant financial obligations.
Critical Illness Insurance policy
Critical Illness Insurance is a type of coverage that provides a lump-sum payment upon the diagnosis of a covered critical illness during the policy term.
Common covered illnesses include cancer, heart attack, stroke, organ failure, paralysis, and major organ transplant.
It depends on the policy. Some insurers may cover pre-existing conditions, while others may not. It's essential to review the policy terms carefully.
Coverage typically pays out upon the diagnosis of a covered critical illness and fulfillment of the policy's survival period, usually 30 days after diagnosis.
Generally, the lump-sum payment received from a Critical Illness Insurance policy is not taxable in Canada.
Yes, you can purchase Critical Illness Insurance even if you have existing health coverage. It provides an additional financial safety net for unexpected medical expenses.
If you don't get diagnosed with a covered critical illness during the policy term, you typically won't receive any payout, and the policy may expire.
Yes, you can cancel your policy at any time. However, you may lose any premiums paid, depending on the policy terms.
The amount of coverage you need depends on various factors such as your financial obligations, existing insurance coverage, and potential medical expenses. It's advisable to assess your needs with a financial advisor.
Some insurance companies offer Critical Illness riders that can be added to existing life insurance policies for an additional premium.
Exclusions vary between policies but may include pre-existing conditions, self-inflicted injuries, and certain types of cancer or illnesses.
To make a claim, you typically need to contact your insurance provider and submit relevant medical documentation supporting your diagnosis.
Age limits vary between insurance companies, but generally, individuals between the ages of 18 and 65 are eligible for coverage.
Some policies offer renewal options, while others may not. It's crucial to review the policy terms regarding renewal provisions.
Premiums for Critical Illness Insurance may increase over time, especially if the policy includes renewal options or if the insurer adjusts rates based on age or other factors.
Yes, you can still purchase Critical Illness Insurance, but the premiums may be higher if you have a family history of certain illnesses
Waiting periods vary between policies but typically range from 30 to 90 days after the policy's effective date.
Yes, you can use the lump-sum payout from Critical Illness Insurance for any purpose, such as medical bills, living expenses, or debt repayment.
Some policies may require a medical exam, while others offer simplified underwriting processes without the need for a medical exam.
Depending on the policy terms, you may be able to adjust the coverage amount during certain policy anniversary dates or with the insurer's approval.
