8 insurance tips for visiting Canada

Tourist season is ramping up, and your clients may have friends and family coming to visit from abroad. Of the 16 million tourists in 2012, almost half were here to visit loved ones, says the Canadian Tourism Commission.

Read: Help a client without travel insurance

Those visitors may lack travel insurance, so ask your client to suggest their guests purchase some before leaving home. It’s best to purchase it before departing because certain policies have a waiting period if bought in Canada.

Read: Snowbirds leave insurance up in the air

Insurer Ingle International gives these reasons for buying travel insurance:

• Medical care is expensive for foreigners. Your visitors will need at least $50,000 in coverage for emergency medical expenses.
• Super Visa applicants must be insured. The federal government requires these travellers to have health coverage which is: (1) a minimum of $100,000, (2) good for at least one year, and (3) Canadian.
• Insurance isn’t just for travel to Canada. It can also covers side trips to other countries, including the U.S.
• It’s not just for visitors. It can also be suitable for new Canadians who are awaiting health care coverage and returning Canadians whose provincial coverage has lapsed.
• Coverage is broad. Coverage for physiotherapists, chiropractors, acupuncturists, and other specialists (when treatment is related to the initial emergency).
• Plans can cover stable pre-existing medical conditions.
• Plans can cover a variety of amateur sports. Including water skiing, mountain climbing and hiking.
• Coverage starts early. They’re covered while en route to Canada and while travelling back to their home country.

Read: A new retirement plan: no home, will travel

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.