What is the difference between Visitor Insurance and Super Visa Insurance?
Visitor Insurance provides emergency medical coverage for anyone visiting Canada temporarily. Super Visa Insurance is specifically required for parents and grandparents applying for a Super Visa — it must provide at least $100,000 in coverage, be valid for 365 days, and be issued by a Canadian insurer. All Super Visa policies are visitor policies, but not all visitor policies meet the IRCC's Super Visa requirements.
Are life insurance payouts taxable in Canada?
No. Life insurance death benefits paid to a named beneficiary are completely tax-free in Canada. The full amount passes directly to your named beneficiary without income tax and without going through probate, which means the people you are protecting receive every dollar of the coverage you bought for them.
What are Segregated Funds and how are they different from mutual funds?
Segregated Funds are insurance contracts that combine investment growth potential with insurance protections. Unlike mutual funds, Segregated Funds can offer principal guarantees of 75–100 percent at maturity or on death, potential creditor protection, and the ability to bypass probate by naming a beneficiary. They are offered by insurance companies rather than investment dealers, which is why a licensed insurance advisor can help you access them.
Can I get insurance if I have a pre-existing medical condition?
Yes, in many cases. For life insurance and living benefits, pre-existing conditions are reviewed through underwriting — some conditions are accepted at standard rates, some with adjusted rates, and some with specific exclusions. For visitor and Super Visa insurance, pre-existing conditions may be covered subject to a stability clause. Because every carrier treats conditions differently, comparing across carriers is exactly where an independent advisor adds the most value.
How much does it cost to use Daya Insurance's advisory services?
Our advisory services are completely free to you. As a licensed insurance brokerage, we are compensated by the insurance carrier when a policy is placed — at no additional cost to you. The premium you pay is the same whether you come to us or go directly to the carrier, so you get independent advice and carrier comparison for free.
What is the difference between critical illness and disability insurance?
Critical illness (CI) insurance pays a one-time, tax-free lump sum when you are diagnosed with a covered condition such as cancer, heart attack or stroke — money you can use for anything, from treatment costs to mortgage payments. Disability (DI) insurance instead replaces a portion of your monthly income, typically 60–70 percent, for as long as an illness or injury keeps you from working, up to age 65. Many Canadians hold both: CI covers the immediate financial shock of a diagnosis, DI covers the ongoing loss of income while you recover.
How is an independent insurance advisor different from buying directly from an insurance company?
A direct agent represents one insurance company and can sell only that company's products. An independent LLQP-licensed advisor is not tied to any single carrier — we compare 15+ Canadian insurers on your behalf and recommend the policy that fits your needs, not the one that pays the highest commission. Because the carrier charges the same premium either way, independent advice costs you nothing extra while giving you the whole market instead of one company's catalogue.
Which provinces does Daya Insurance serve?
Daya Insurance is licensed across six Canadian provinces: Ontario, British Columbia, Alberta, Manitoba, Saskatchewan and Nova Scotia. Advisory work is handled by phone, video or email, so families in any of these provinces receive the same independent, LLQP-licensed advice — in English, Punjabi, Hindi or Gujarati — without needing to visit an office.
