--------------------------------------------------------------------------------

We have mortgage insurance from RBC now we would like to cancel it .
We would like to know in the future if we want to get mortgage insurance back ,will there be some issues?
At my work place when the benefits are offered if u don't accept it then later if you want to get benefits they make you go through a lot of test etc .Will this also be something similar?

CHMC insurance is mandatory in some cases and cannot be cancelled for the life of the mortgage as it is a onetime payment that ur mortgage provider splits over the life of the mortgage..

I dont believe in getting a 3rd party Mortgage insurance , Basically if u own a house u should keep a sinking fund for 1 to 2 years of morgage plus incidental repairs.

Mortgage insurance companies make the wording so hard that it will take a major life changing event in ur life to make it applicable and then they will look for loop hole to not pay the insurance..