How to transition or cancel your single-premium policy
Navigating the transition or cancellation of a single-premium mortgage protection plan requires a clear understanding of your policy’s terms, as the process differs significantly from standard monthly insurance products. Because the entire premium was paid upfront, often financed directly into your home loan, canceling the policy does not automatically stop a recurring charge. Instead, the first step is to contact your insurance provider to request a cancellation form and inquire about the remaining cash value or refundable portion of your premium.