ALICO Life Insurance Transfer from Dubai to Canada


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jaan75   
Member since: Feb 06
Posts: 4
Location: UAE

Post ID: #PID Posted on: 10-07-06 14:29:55

Hi ! I have ALICO Life & Health Insurance Policy (Income Growth Plan) from Dubai. I am moving to Canada for good as I completed 3 years stay outside
canada after my first landing. I would like to continue my policy as I have
already paid 3 year's premium. My questions are :

1. Is ALICO Policy transferable ?
2. If so, then what will be the cost implications due to the transfer?
3. What exactly should i do before I leave Dubai so that I can pay my premium
in Canada and continue ?
4. I don't have canadian health card yet, will this ALICO health insurance cover
my first 3-4 months till I get the health card ?


I have spoken to the local agent here but they don't have concrete answer.


Somebody plz reply !!! Regards.


-pradip



Val   
Member since: Oct 03
Posts: 189
Location: Toronto

Post ID: #PID Posted on: 10-07-06 16:22:04

Alico policy holders when they move to Canada get into a trap. You loose either way. Insurance policies here in Canada are cheap compared to Gulf. You can however choose to maintain Alico by paying their premium for 7 years.

Alico's medical Insurance I believe is for disability and long term health care not for routine stuff.you need to check with your agent.

Depends on your age and other factors.





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