Given the chances of claiming refund, either full or partial, is a definitive possibility for most of us, we need to be well aware of the refund policies of the insurance that we purchase. This is especially more for the super visa insurance plan holders whose applications for super visa get rejected and for those whose trips are going to be short.
Rejections
Visitor policy is what is normally bought when someone visits Canada and they do it after getting the visa. However in case of super visa application, the applicant has to submit proof of insurance when applying for it. This means, that if your application for super visa gets rejected, then you need to seek a refund on the insurance. Most of the insurance companies provide a full refund in case of visa rejections. You will have to provide them with the denial letter from CIC (Citizenship and Immigration Canada) in case of a denial or a delay when seeking refund.
The refund could be an issue if the policy has commenced even before the visa has arrived. In such cases, not all companies will give a full refund. So, if there are delays in getting your visa processed, then remember to get your policy commencement date delayed further too.
Partial refund
Irrespective of how long you plan to stay in Canada, if you have a super visa, then you need a policy with a minimum policy period for a year. So, most of the super visa applicants have to claim partial refund, if their trip has been less than a year. While most insurance companies do provide this partial refund, some stipulate clearly that it is non-refundable when you sign the documents at the time of purchase. When refunding, the amount is calculated based on the days left in the policy and sometimes you will be charged a processing fee of $25.
There are also certain scenarios when even a partial refund is not possible. This is more so in cases, where you have already raised a claim on the policy during your period of stay. You need to be more careful when dealing with these insurance companies as some of them even considered a call to their helpline as a claim request, even though you may not have received any amount from it. Also, there is a minimum amount or unused days left in the policy that are taken into account while considering for partial refund by some of the insurance companies.
Plan change
Super visa applications take a long time to get processed and there are chances that the applicant decides not to visit Canada in the meantime. Again in this case, you will be able to get a refund for the full amount from some insurance companies. Recently though, there is a cancellation fee (approximately $100-$250) levied on cases where the policy is withdrawn by the policyholder without a denial letter from CIC or post the processing of Visa.
Please consult our professional staff to find out the most suitable super visa insurance policy that meet your needs.