Renewal, transfer, or refinancing: when the mortgage changes hands, the insurance tied to it may change too. Describe your situation; an authorized person explains what applies to your contract.
Lender-linked insurance does not always follow
If the coverage was taken out with the previous lender, it may end with the loan. An individual policy belongs to you and continues independently.
A new application may reopen questions
Applying again may mean answering health questions again; your situation may have changed since the first time.
The right moment to think about it
Before accepting the new lender’s offer, not after the notary. The mortgage broker and the person handling personal insurance are two distinct contacts.
What stays in your hands
The choice to continue, replace, or not insure is yours, once the terms are explained.
Frequently asked questions
Does my coverage stop automatically if I change lender?
It depends on the contract. Insurance tied to the loan may end with it; the authorized person reviews your case.
Do I have to take a new medical exam?
Not necessarily, but a new application may include health questions. Better to know before cancelling anything.
Who should I call first: the broker or the insurer?
You can fill in a single form; the request is directed to the person authorized for this service.