HW wallet (Blockstream Jade)

I’ve bought a Blockstream Jade and I have spent a few hours to familiarize myself with the features of it, and by now I know how to set it up.

However I have a question that I need to know before setting it up with my wallet:

If I set it up, I understand that I will need the device to see my balance and to make transactions, right? But what happens if I can’t use the Jade anymore (if I lose it, if it stops working, if I forget the password/pass code))? Will I still be able to create a new wallet with my seed phrase? And this new wallet will work on its own, without the Blockstream Jade? (I’m guessing yes, but I don’t wanna take any chances).