Can I switch my life insurance company?

If you switch life insurance providers, you'll face a new two-year contestability period. Switching to a new provider means you will have to pay the upfront fees again. Your current provider is likely able to convert, replace or supplement your existing policy to achieve coverage that meets your needs.

Can I transfer ownership of a life insurance policy?

Yes, generally you can transfer a life insurance policy to another owner by filling in a Memorandum of Transfer. The policy owner has entire control over the life insurance policy; decide who the beneficiaries are, the payment arrangements and the amount of coverage.

Can I switch to a different insurance company?

Yes, you can switch companies if you have a loan on your vehicle. If you find a new insurance company with policies that match your auto insurance needs and your budget, it is possible to make the switch.

Is it better to stick with the same insurance company?

If you switch your insurance company, you will be missing out on this discount on your premium at the time of renewal. Thus, remaining with the same insurance company will fetch you good discounts over time.

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