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Understanding the Requirement

What Does “OSFI-Regulated” Mean for Super Visa Insurance?

OSFI stands for the Office of the Superintendent of Financial Institutions — Canada’s federal regulator for insurance companies. Here’s why it matters for your Super Visa application.

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OSFI is Canada’s Federal Insurance Regulator

OSFI (Office of the Superintendent of Financial Institutions) is the federal body that licenses, supervises, and regulates insurance companies operating in Canada. For a Super Visa insurance policy to be valid, IRCC requires that the insurer be federally authorized by OSFI — meaning they appear on OSFI’s publicly available list of regulated financial institutions and issue the policy through their Canadian operations.

📌 2025 Update: International Insurers May Now Qualify

As of January 28, 2025, IRCC expanded eligibility to allow insurance from certain international companies — provided they are authorized by OSFI and appear on OSFI’s federally regulated institutions list. Simply buying from any foreign insurer is not sufficient — OSFI authorization is mandatory. Always verify before purchasing.

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Federally Regulated & Supervised

OSFI-regulated insurers are subject to continuous federal oversight, capital requirements, and solvency standards — giving you confidence they can pay claims when you need them most.

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Meets IRCC Super Visa Requirements

IRCC (Immigration, Refugees and Citizenship Canada) mandates that Super Visa insurance come from an OSFI-authorized insurer with Canadian operations. Non-compliant policies can lead to visa refusal at the border.

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Financial Stability You Can Count On

Regulated insurers maintain minimum capital reserves. In the unlikely event of a large medical claim — hospital stays can cost $5,000–$15,000+ per day in Canada — you need an insurer that can deliver.

IRCC Compliance Checklist

Super Visa Insurance Requirements — Every Box Must Be Checked

IRCC has specific, non-negotiable requirements for Super Visa insurance. A policy that misses even one of these criteria can result in your application being denied or your parents being turned away at the border.

Minimum $100,000 Coverage

The policy must cover at least $100,000 for emergency health care, hospitalization, and repatriation. Many families opt for $150,000–$200,000 for greater peace of mind — especially for older visitors.

Valid for a Minimum of 1 Year from Entry

Coverage must begin no later than the date of entry into Canada and remain valid for at least 12 months. Quotes or partial policies are not accepted — coverage must be confirmed and active.

Issued by an OSFI-Authorized Insurer

The insurance company must be authorized by OSFI to provide accident and sickness insurance and must appear on OSFI’s official list of federally regulated financial institutions.

Issued Under Canadian Operations

Even if the insurer is international, the policy must be issued through the insurer’s Canadian operations — not through an overseas branch or a broker who is not the actual insurer. The policy certificate must confirm this.

Includes the Insurer’s Name on the Certificate

The policy document must clearly state the name of the actual insurance company (the underwriter). Broker names or TPA (third-party administrator) names alone are not sufficient to verify OSFI status.

⚠️ Common Mistake: Buying from a Non-OSFI Insurer

Many families — especially from India, Pakistan, and the Philippines — are tempted to buy insurance from their home country’s insurer to save money. Unless that specific insurer is authorized by OSFI and appears on their official list, the policy will not satisfy IRCC requirements. This can result in border refusal or policy rejection.

How to Verify an Insurer’s OSFI Status

Visit osfi-bsif.gc.ca and search the list of federally regulated financial institutions
Confirm the insurer appears under “Accident and Sickness Insurance”
Request that the policy certificate explicitly states it was issued under Canadian operations
Email OSFI at information@osfi-bsif.gc.ca if you need written confirmation (15-day response time)
Or simply call our licensed brokers — we verify OSFI status for every provider we recommend

Provider Comparison

Compare Plans from Top OSFI-Regulated Insurance Providers

Not all Super Visa insurance plans are equal. Premiums, deductibles, pre-existing condition coverage, and refund policies vary significantly between providers. We compare them — you save.

Manulife

Sun Life

Allianz

MSH International

GMS

Tugo

21st Century

+ More

Feature	OSFI-Regulated Canadian Insurer	Foreign Insurer (OSFI-Authorized)	Non-OSFI Foreign Insurer
Meets IRCC Super Visa Requirements	✓ Yes	✓ Yes (if verified)	✗ No
Appears on OSFI’s Official List	✓ Yes	✓ Yes (required)	✗ No
Canadian Claims Network Access	✓ Extensive	⚠ Varies	✗ Unlikely
Monthly Payment Options Available	✓ Yes	⚠ Some providers	✗ Rarely
Pre-existing Condition Coverage	✓ Many options	⚠ Limited	✗ Not guaranteed
Full Refund if Visa Denied	✓ Yes (most)	⚠ Check terms	✗ Often no
Repatriation Coverage	✓ Included	✓ Required	⚠ Not standard

Compare OSFI-Regulated Insurance Quotes →

Important: Know Before You Buy

Can You Buy Super Visa Insurance from Your Home Country?

This is one of the most common questions from families in India, Pakistan, China, and the Philippines. Here’s the honest, up-to-date answer.

📍 The Short Answer

Since January 28, 2025 — yes, but only if your home country insurer is authorized by OSFI and appears on their official list of federally regulated financial institutions.

Simply buying any insurance policy from LIC of India, Max Bupa, or another home country provider is not valid for a Super Visa unless that specific company has been authorized by OSFI under Canada’s Insurance Companies Act.

As of today, most home country insurers are not on the OSFI list. If your insurer is not listed, purchasing from them will likely result in a visa refusal or denial of entry at the border.

⚠️ Risk: Purchasing a Non-Compliant Policy

If your parent or grandparent arrives in Canada with a non-OSFI-compliant policy, they may be denied entry — even if they have proof of insurance. This can happen regardless of the coverage amount.

What To Do Instead

Work with a licensed Canadian broker who can confirm OSFI status
Compare quotes from verified OSFI-regulated providers
Ask for the policy certificate that confirms “issued in the course of Canadian operations”
Keep the original policy document to present at the border

Plan Features

What’s Included in a Good Super Visa Insurance Plan?

OSFI-regulated insurers offer plans designed specifically for the Super Visa program. Here are the key features families should look for.

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Emergency Medical Coverage

Covers hospital stays, physician visits, diagnostic tests, prescription drugs related to emergencies, and ambulance services — from $100,000 to $500,000 depending on the plan.

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Hospitalization & Surgery

Includes inpatient and outpatient hospital care, surgery, specialist consultations, and ICU coverage. This is critical since private hospital costs in Canada can reach $5,000–$15,000 per day.

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Repatriation Coverage

Covers the cost of transporting your loved one back to their home country for treatment or, in the worst case, repatriation of remains. Required by IRCC.

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Monthly Payment Options

Many OSFI-regulated insurers offer monthly instalment plans, making it easier to budget for long-duration coverage. Some require a deposit with monthly billing — ask your broker for options.

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Refund If Visa Is Denied or Early Return

Most reputable OSFI-regulated insurers offer a full refund if the Super Visa application is refused, or a pro-rated refund if the visitor returns home early (conditions apply).

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Pre-existing Condition Coverage

Some plans cover stable pre-existing conditions (typically stable for 90–180 days). This is important for older visitors. Disclose all conditions honestly — non-disclosure can void a claim.

Government Data Reference

Federally Regulated Insurance Companies in Canada

OSFI maintains a publicly available list of all federally regulated financial institutions in Canada. Only insurers on this list qualify to issue valid Super Visa insurance policies under Canadian operations.

Key Numbers from OSFI’s Regulated Institutions List

The following figures are based on the Government of Canada’s publicly available OSFI dataset of federally regulated financial institutions authorized to operate in Canada.

100+

Federal insurance companies on the OSFI list

A&S

Specific authorization needed for accident & sickness insurance

15 days

OSFI’s typical response time for written insurer confirmation

⚠️ Disclaimer: This data is a reference summary from the Government of Canada’s open data portal. The OSFI list is updated periodically. Always verify insurer status directly at osfi-bsif.gc.ca or by contacting OSFI at information@osfi-bsif.gc.ca before purchasing any Super Visa insurance policy. CanadianLIC does not warrant the completeness or currency of this summary.

Frequently Asked Questions

Your Super Visa Insurance Questions — Answered

We hear these questions every day from families across Canada, India, Pakistan, and the Philippines. Here are clear, honest answers.

OSFI — the Office of the Superintendent of Financial Institutions — is Canada’s federal regulator for banks, insurance companies, and other financial institutions. For Super Visa insurance, IRCC requires that the insurer be authorized by OSFI and listed as a federally regulated institution. This ensures the insurer is financially stable and legally operating in Canada.

No. Some insurers are regulated provincially. For Super Visa insurance, the insurer must be federally regulated by OSFI — provincial regulation alone is not sufficient. Always verify the insurer appears on the OSFI list.

Yes. The insurer must be authorized by OSFI under the Insurance Companies Act, appear on OSFI’s list, and issue the policy through Canadian operations. All conditions must be met.

In most cases, no. Companies like LIC, Star Health, or ICICI Lombard are not on OSFI’s list. Since 2025, some foreign insurers may qualify only if they are OSFI-authorized — which is rare. Always verify before purchasing.

You can check on osfi-bsif.gc.ca, email OSFI, or work with a licensed broker. Only the underwriting insurer appears on the OSFI list — not brokers or TPAs.

Minimum $100,000 coverage for healthcare, hospitalization, and repatriation. The policy must be valid for at least one year from entry into Canada.

Yes. Many OSFI-regulated insurers offer monthly payment plans. The full one-year coverage must still be confirmed.

They may be denied entry by CBSA even with a valid visa. Insurance must meet all IRCC requirements and be clearly documented.

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