Is a lender requiring that you take out insurance before entering into the contract? You are not required to take this insurance with that lender.
You may always satisfy this condition with insurance you already hold, or shop for insurance elsewhere. The lender must clearly indicate this obligation in the contract with this clause.
Last update : September 23, 2021
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The information contained on this page is presented in simple terms to make it easier to understand. It does not replace the texts of the laws and regulations.