Private health insurance for 3 months, Is there a need?

[margocan]

Hi.

I will land in a few days in toronto. I am a healthy individual and has no pre-existing condition whatsoever. I am just worried that due to weather adjustment when i arrive (especially coming fall and winter), i might get sick before OHIP becomes available by end of November for myself.

I am immigrating alone and does not have a family or relatives in canada.

I've been checking prices online and have found SRMRM with $100,000 coverage, $0 deductible with price of $200. Is it worth buying? Anyone who has experienced buying online insurance?

Do i really need to purchase private insurance prior to landing or it can wait after i land? Thanks!

 

[scylla]

The three months of health care insurance isn't mandatory and it's really up to you if you decide to take it. It's really there to protect you from the unexpected and expensive. For example, let's say you break your leg and need minor surgery to repair it. That could easily run you $10K. Those are the types of costs you're protecting yourself against. So again, really up to you.

 

[margocan]

The three months of health care insurance isn't mandatory and it's really up to you if you decide to take it. It's really there to protect you from the unexpected and expensive. For example, let's say you break your leg and need minor surgery to repair it. That could easily run you $10K. Those are the types of costs you're protecting yourself against. So again, really up to you.

Thank you scylla. I just needed that push.

 

[haver]

One thing you should know about the $0 deductible with SRMRM is that it's $0 for the first claim and it then becomes $250 for all the other claims. What that means is that if you have to see the doctor or are hospitalized for two different issues, the second time you would pay up to $250. We have a contract with that company and we know that some people don't realize this until after they have bought it.

 

[margocan]

One thing you should know about the $0 deductible with SRMRM is that it's $0 for the first claim and it then becomes $250 for all the other claims. What that means is that if you have to see the doctor or are hospitalized for two different issues, the second time you would pay up to $250. We have a contract with that company and we know that some people don't realize this until after they have bought it.

I see. Is this in the fine print? I didn't see it there. So would you recommend getting another
Insurance with a certain deductible instead of SRMRM? Or is it better to get a higher amount insurance with $0 deductible but will not charge on the next claim?

Thank you for this caution.

 

[Steevy]

I see. Is this in the fine print? I didn't see it there. So would you recommend getting another
Insurance with a certain deductible instead of SRMRM? Or is it better to get a higher amount insurance with $0 deductible but will not charge on the next claim?

Thank you for this caution.

It is always better to go with $0 deductible as you will not have to cover your emergency expenses yourself. Although it is slightly more expensive than having a positive deductible like $100 or $250, it gives you a peace of mind knowing that your are totally covered.

If you do not think that $0 is the best option, you may choose smth close to it and pay less for the actual insurance policy.

You may want to check out the option using the On-line Insurance Calculator and ask the agent.

Hope it will help.

 

[canvis2006]

avoid srmrm, as they only want claims in real emergency.

if u get sick and need to see a doctor they will not pay anything........my brother had srmrm and they denied when we called them\

I'd rather go with Ontario Blue Cross.... useblue.com

 

[Leon]

The idea of getting the insurance is to avoid having to pay thousands of $ in case of an emergency. If you also want coverage for possible doctors visits for non-emergencies, you can surely find insurance that will cover that too but the more coverage you get, the more expensive it gets. In the end, it is up to you what kind of coverage you want but if you are not sure, at least the cheapest insurance is better than none at all.

 

[newtone]

It would really depend on the lifestyle you lead for the 3 months. If you plan to do risky activities then by all means. This is not to say accidents dont happen to people doing non-risky activities. Rather just be careful, cautious and vigilant about everything and you'll be fine. Remember if you decide to buy insurance and nothing happened to you in three months that leaves you a little poorer and the insurance company a little richer. Do you really want that?

 

[scylla]

It would really depend on the lifestyle you lead for the 3 months. If you plan to do risky activities then by all means. This is not to say accidents dont happen to people doing non-risky activities. Rather just be careful, cautious and vigilant about everything and you'll be fine. Remember if you decide to buy insurance and nothing happened to you in three months that leaves you a little poorer and the insurance company a little richer. Do you really want that?

A very healthy and athletic friend of mine was visiting from the US several years ago (no insurance). She stepped off a high curb while talking to another friend (and not paying attention to where she was walking), twisted her leg, and broke it. The result? $3K out of her own pocket. Again, entierly up to the individualy whether you cover yourself or not. I personally think people who travel or stay anywhere without insurance are insane (I travel quite a bit and am always covered). But that's probably just me. I could sustain a hit of $3K without even blinking an eye. What I would worry about is a more serious accident (e.g. bad car accident) or very unexpected illness (e.g. appendix repture with complications and surgery / hospitalization is required and a medevac is needed) that ends up costing hundreds of thousands of dollars. High medical bills can be life-changing - meaning they can impact your ability and your family's ability to live a comfortable and stable life for the forseeable future. That's what you're protecting against. A couple of hundred bucks in someone else's pocket for that peace of mind is worth the trade for me.

 

[newtone]

A very healthy and athletic friend of mine was visiting from the US several years ago (no insurance). She stepped off a high curb while talking to another friend (and not paying attention to where she was walking), twisted her leg, and broke it. The result? $3K out of her own pocket. Again, entierly up to the individualy whether you cover yourself or not. I personally think people who travel or stay anywhere without insurance are insane (I travel quite a bit and am always covered). But that's probably just me. I could sustain a hit of $3K without even blinking an eye. What I would worry about is a more serious accident (e.g. bad car accident) or very unexpected illness (e.g. appendix repture with complications and surgery / hospitalization is required and a medevac is needed) that ends up costing hundreds of thousands of dollars. High medical bills can be life-changing - meaning they can impact your ability and your family's ability to live a comfortable and stable life for the forseeable future. That's what you're protecting against. A couple of hundred bucks in someone else's pocket for that peace of mind is worth the trade for me.

I agree because you travel a lot, but for someone who travels occasionally I really dont see the point. The probability are in your favour. It differs from each individual, I know some people who cannot walk straight or who are very absent minded. I will highly recommend them to get insurance. Personally for me its a waste of money. In the highly unlikely event if I do break a leg or get into an accident I much rather pay it out of my pocket than having to constantly pay insurance companies hundreds of dollars each time I think of a lovely vacation and then feel bad cause I spent so much money on buying insurance and didn't get my money's worth cause I didn't get into an accident.. Lets not forget insurance companies have tons of clause, everything may not be covered. So you may have a piece of mind when you purchase the insurance till you actually get into an accident.

 

[Rob_TO]

I've been checking prices online and have found SRMRM with $100,000 coverage, $0 deductible with price of $200. Is it worth buying? Anyone who has experienced buying online insurance?

If you don't think you will actually use it, then just get $50,000 coverage and a couple hundred deductible to lower the cost.

Use this site to check various plans/prices: https://www.kanetix.ca/travel-visitors-to-canada

 

[scylla]

I agree because you travel a lot, but for someone who travels occasionally I really dont see the point. The probability are in your favour. It differs from each individual, I know some people who cannot walk straight or who are very absent minded. I will highly recommend them to get insurance. Personally for me its a waste of money. In the highly unlikely event if I do break a leg or get into an accident I much rather pay it out of my pocket than having to constantly pay insurance companies hundreds of dollars each time I think of a lovely vacation and then feel bad cause I spent so much money on buying insurance and didn't get my money's worth cause I didn't get into an accident.. Lets not forget insurance companies have tons of clause, everything may not be covered. So you may have a piece of mind when you purchase the insurance till you actually get into an accident.

How often you travel is completely irrelevant IMO.

The friend of mine I mentioned above has almost never stepped out of the US. She was in Canada for a long weekend when the leg break happened. If you travel, you should cover yourself. I know someone else who ended up with a $5K or $6K US medical bill after an injury in the US that was sustained during a day-trip to a US outlet mall. If you're stepping into another country - get yourself insured. It's not about the leg breaks. It's about the bigger accidents, like getting hit by a car and being in critical care for weeks after major surgery. Again, a bigger accident has the potential to destroy your financial future.

But again, that's just my opinion. If you're willing to risk hundreds of thousands of dollars of your own money - by all means go without. It all comes down to your personal risk tolerance. I've gone cage diving with great white sharks and would do it again in a second. But there's no way I would jeopardize my entire financial future by traveling uninsured.

 

[newtone]

It starts with how often do you see yourself slip and fall from stairs, curb, building, hit by a car, stabbed by someone, eating rat poison, thrown under the bus, car, train, airplane, struck by lightning, rocks, trees etc. If you have never experiences any of these atleast once in your "adult" life then its a waste of money to buy insurance. Cause the odds are in your favour and it will send a guilt trip down your mind thinking all that insurance money went to waste and absolutely nothing happened for the moneys worth. Insurance company just cashed on your fears, thats all.

 

[Leon]

Just because an accident never happened to you before doesn't mean that it wont ever happen, for example sometime in the next 3 months. An accident doesn't always happen because you are careless. It can also happen through the fault of someone else.

You may feel that it is a waste of money getting insurance. I feel that it gives me the safety that if something happens, I am not going to be thousands in debt. The OP has to decide for themselves.