Life Insurance For Newcomers To Canada
Starting a new life in a strange place can be both exciting and stressful. Amidst the chaos of moving in, it’s easy to forget a crucial aspect of protecting your future – life insurance.
As a visitor to Canada, whether you’re an immigrant, foreign worker, student, refugee, or non-permanent resident, you deserve peace of mind knowing that your loved ones will be financially protected, no matter what life throws your way.
Sure Insurance understands the difficulties you face and offers cheap life insurance for newcomers to Canada suited to your unique needs, providing a safety net for you and your family during this change.
What is a permanent resident?
A Canadian permanent resident is a person who, although not a member of Canada, has the free right to live and work in the country.
These residents keep the citizenship of their home country but can ask for Canadian citizenship after living in Canada for a certain number of years as a permanent resident.
Generally, newcomers seek permanent residency to build their lives and jobs in Canada.
Get Life insurance for newcomers to Canada quotes from Sure Insurance today to protect your future in Canada.
Life insurance for immigrants and permanent residents
Immigrants who receive permanent residency can apply for life insurance as soon as they arrive in Canada. With permanent status, you enjoy the same eligibility as Canadian citizens, with no limits on coverage or plans.
However, you might need to meet additional medical requirements, such as a blood test, especially if you’ve lived in Canada for less than a year or are seeking higher coverage amounts.
What is a non-permanent resident?
Non-permanent residents (NPRs) are those given the right to live in Canada temporarily under legal papers like work permits, study permits, Minister’s permits, or refugee status, including their family members living with them. These people are also known as temporary residents.
Protect your family’s future today. Get a quote from Sure Insurance and secure your peace of mind.
Life insurance for non-permanent residents
New and recent immigrants who have gained permanent residency in Canada can generally apply for life insurance products as soon as they arrive. However, there are specific restrictions for non-permanent residents, and eligibility depends on the insurer.
If you hold an open work permit, student visa, convention refugee status, nanny or caregiver position, or a temporary, employer-specific, or post-graduate work visa, you may be eligible for life insurance.
To apply, you will need to provide proof of residency, such as a work permit, and meet any additional medical requirements set by the insurer.
Depending on your residency status, you might be limited to certain life insurance products like no-medical and term insurance. Some non-permanent residents may also qualify for critical illness coverage.
It’s important to note that non-residents are not eligible for disability insurance, and the maximum coverage amount will vary based on your specific category.
Protect your future today. Get a life insurance for newcomers to Canada quote from Sure Insurance.
What is the impact of your refugee status on life insurance?
As a refugee, navigating the complexities of life insurance can be overwhelming. We empathize with your unique challenges and are committed to helping you secure your future.
Upon arrival in Canada, refugees with convention status may be eligible for life insurance, subject to certain conditions and waiting periods. The extent of coverage varies among insurers, with some offering up to $250,000 or even $1,000,000 in coverage.
Additionally, some providers may offer critical illness coverage. However, please note that refugees are not eligible for disability income, premium waivers, or accidental death riders.
What does it mean to be a Convention Refugee?
The United Nations Convention relating to the Status of Refugees defines a Convention Refugee as someone who:
Fears persecution due to race, religion, nationality, social group, or political opinion
- Is it outside Canada or their home country?
- Is unable or unwilling to seek protection from their home country due to fear
Sure Insurance understands the struggles you face and is dedicated to providing tailored insurance solutions. Get a quote today and take the first step towards securing your future!
Life Insurance with a Work Visa
If you hold a work visa or permit (whether employer-specific or open), you may qualify for fully underwritten life insurance products, offering various coverage amounts depending on the insurer.
Additionally, you might be eligible for critical illness and Accidental Fracture Plus riders. To apply, you’ll need to provide a copy of your work permit.
If youâve been in Canada for less than a year, expect more stringent screening and underwriting processes, including paramedical exams and blood tests for hepatitis B and C.
Life Insurance with a Student Visa
Those with a study permit can qualify for life insurance products, though not for critical illness or disability insurance. Coverage amounts will vary by insurer. Insurers may require additional criteria for student visa holders, such as the intent to apply for permanent residency.
Life Insurance for Spouses and Dependents
Certain insurers offer life insurance to the spouses and dependent children of temporary or permanent residents living in Canada. These plans typically cover only a portion of the amount available to primary policyholders residing in Canada.
Get a quote from Sure Insurance today and ensure peace of mind for you and your loved ones.
Frequently Asked Questions (FAQs) about Life insurance for newcomers to Canada
Can non-residents get life insurance in Canada?
Yes, foreign nationals can obtain life insurance in Canada. This includes those with study permits, for instance. Contact Sure Insurance advisor for more information.
Can refugees get life insurance in Canada?
New immigrants need not worry. Permanent residents, refugees with Convention refugee status, and individuals with work or student visas are all eligible for life insurance.
Can immigrants get life insurance in Canada?
Indeed, immigrants can secure life insurance in Canada. Permanent residents, refugees with Convention refugee status, and individuals with work or student visas qualify for life insurance. However, specific requirements and plan availability may vary by insurance company and individual circumstances.
Can I get life insurance if I live abroad?
Generally, yes, but proper arrangements must be made. When purchasing life insurance, you will need to designate one or more beneficiaries who will receive the lump sum payout from your policy.
Can temporary foreign workers get life insurance in Canada?
Yes, work permit holders in Canada can purchase life insurance. Temporary foreign workers are eligible, provided they meet the specific requirements set by the insurance company.
Can international students get life insurance in Canada?
International students are eligible for life insurance up to $250,000. It is possible to acquire life insurance without undergoing medical examinations.
Get life insurance for newcomers to Canada from Sure Insurance today and secure your future in Canada.
