New question in Life Insurance FAQ

Posted on May 9, 2012 and updated January 23, 2019 in Life Insurance Canada News, Life Insurance FAQ 1 min read

New question in Life Insurance FAQ:

I found an insurance co with a much lower premium than the one I am paying. When I called my inusrance company to cancel my policy so I could buy from th enew company with the lower rate, they told me I could not. In Canada you are not allowed to change companies. Is this true?

You can cancel a policy with written notice. If replacing a policy with a new one you should complete a replacement form but this is done for your protection.

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