If your parents are coming to Canada or have already arrived, the most important insurance coverage that they should purchase is called Visitors-to-Canada insurance. This will cover your parents in the event of an emergency that requires hospitalization. Without Visitors-to-Canada insurance, your parents may have to pay out of pocket for all medical expenses. That can be quite costly in Canada.
When purchasing a Visitors-to-Canada insurance policy, you will have several coverage and deductible options. The most common coverage amount is $100,000. The more coverage you purchase, the higher the cost of the policy. The higher the deductible, the lower the cost of the policy. Its a good idea to find a balance with a deductible that is not too high but has sufficient coverage amount.
If you parents are planning to immigrate to Canada, you will require Super Visa coverage which is set to at least $100,000. This is automatically set for 365 days. If by the end of the year, your parents are still not eligible for OHIP, they will need to renew the policy.
Your parents will need to qualify for a Visitors-to-Canada policy by completing a medical questionnaire. If your parents have any pre-existing conditions, it must be told to the insurance broker who is working on your policy. If an emergency occurs that is a result of a pre-existing condition, the claim could be rejected.
An important point that you should keep in mind when purchasing a Visitors-to-Canada policy is that doctor checkups or non-emergency prescriptions are not included with these policies. This policy covers medical expenses related to emergencies.
