What Three Things Are Guaranteed With Health Insurance?

What Three Things Are Guaranteed With Health Insurance
Like anything you buy, you want to know your health insurance delivers what you expect – with no regrets. Did you know it probably delivers more than you even imagined? Find out how.

If you are like most people, receiving a guarantee with the services and products you choose helps you to be a little less skeptical that they’ll do the job you need them to do. In fact, it’s a little inspiring when your health insurance provider is standing behind you and believes in all that they are delivering.

While always having good health is never a guarantee in life, it is a good plan to have insurance in place that can help cover healthcare costs not covered by your provincial health insurance plan like

  • Prescription drugs
  • Dental checkups and treatment
  • Vision care
  • Semi-private or private hospital rooms
  • Registered specialists and therapists
  • Health-related products such as hearing aids, orthotics or medical equipment
  • Health-related services such as ambulance, homecare and nursing
  • Emergency medical care for travellers

When you select your health and dental insurance you always receive one fair hassle-free guarantee:  a ‘free look’ period. Your health insurer wants you to have time to go over the policy and understand all the details. You get anywhere between 10 to 30 days (depending on the policy you choose) to ask questions and get answers. If you are not satisfied with your policy, you can return it and receive a full refund (as long as you have not made any claims).

Did you know there are three other important guarantees you can get with health insurance?

Guarantee #1: You’ll be accepted for coverage

You are eligible to apply for an individual health insurance plan if you are a Canadian resident 18 years of age or older who has provincial health insurance coverage.

Everyone eligible qualifies for a guaranteed acceptance plan. That’s right. Everyone.

There are a wide range of “guaranteed issue” health insurance plans available that accept all applicants regardless of your medical history. You will not be required to have a medical exam or fill out a questionnaire in order to qualify.

If you are coming off a group health plan, the good news is that you can apply within 60 or 90 days of leaving the group and qualify for a guaranteed acceptance individual health insurance policy specially designed for people like you.

Guarantee #2:  You can take it with you when you change jobs (or have no job at all)

Often people only think that health insurance is provided by an employer, but that’s not the case.

If you have had group health insurance benefits provided by an employer, you probably never discovered that there are individual health insurance plans you can own.

Individual (or supplemental) health insurance plans are not dependent on an employer – anyone can buy one (see Guarantee #1 for details).

Once you put an individual health and dental insurance plan in place, it is yours regardless of changes in your employment or health.  Isn’t that amazing? You may be in between jobs – and still have health insurance coverage in place. You could open your own business, or choose to be a consultant or stay-at-home parent, or to retire. Your health insurance coverage will still be there to protect you from out of pocket healthcare costs due to an accident or illness. And, if you move to a different province you will still be covered (excluding QC).

Guarantee #3:  You can keep your coverage, for life

Your individually owned health insurance coverage is guaranteed to continue to protect you every year. A guaranteed renewable policy safeguards you from having your policy cancelled by your insurer as long as you continue to pay the policy’s premiums. That’s what makes health insurance part of a strong financial foundation for your entire lifetime.

  • You will be covered regardless of your age.
  • If you develop a health condition that needs continual treatment, your policy will remain in effect.
  • Your policy will provide benefit protection every year even if you have made large or multiple healthcare service claims that are within the lifetime maximum allowable.

Your insurer will adjust your plan and premiums will change one year to the next. Your health insurance can  continue to meet your needs 5, 10, 20 or even 30 or 40 years from now.

At SBIS we guarantee it’s easy to get started

Now that you know just what health insurance can guarantee for you, put some in place now…so you can be set for life. Get started by applying online today at SBIS.


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