Loan insurance
Any individual or professional in the process of obtaining a bank loan or with current credit. Borrower insurance is a necessary condition for obtaining a loan.
- Irrevocability of guarantees and prices.
- Medical expertise depending on the insured’s profession.
- Incapacity and Disability guarantees for inactive people (with Peace of Mind + option possible as part of the equivalence of guarantees when replacing insurance).
Quote sheet
Frequently asked questions about loan insurance
Is loan (borrower's) insurance a legal requirement?
No. No French law makes borrower's insurance mandatory: it is a contractual condition set by the bank to guarantee loan repayment. In practice, however, getting a mortgage almost always depends on it.
Can I choose an insurer other than the one offered by my bank?
Yes. Since the 2010 Loi Lagarde, you can take out borrower's insurance with the provider of your choice ("délégation d'assurance"), provided the cover offered is equivalent to what the bank requires. The bank must give written reasons for any refusal.
Can I switch my loan insurance after signing?
Yes, at any time. The Loi Lemoine of 28 February 2022 removed the previous time restrictions (the first 12 months under the Loi Hamon, or the annual anniversary date under the Bourquin amendment): you can now cancel and switch borrower's insurance at any time, free of charge, provided the new cover is equivalent. The bank has 10 working days to respond to your request.
Do I have to fill in a medical questionnaire?
Not always. Since the Loi Lemoine, the medical questionnaire is waived when two conditions are both met: the insured amount per person is €200,000 or less, and the loan is due to be repaid before the insured person's 60th birthday. If either condition is not met, the questionnaire remains mandatory.
What is the "right to be forgotten"?
It is the right of former cancer or hepatitis C patients to no longer declare their condition or pay a surcharge once a set period has passed since the end of treatment, without relapse. The Loi Lemoine reduced this period to 5 years (down from 10).
What do Death, Disability and Incapacity cover actually include?
These guarantees are defined by each contract rather than by law. Broadly: Death cover pays off the outstanding loan balance if the insured dies; PTIA (total and irreversible loss of autonomy) applies when total disability requires third-party assistance; ITT (temporary total incapacity) compensates a temporary inability to work, after a contractual waiting period; IPT/IPP (permanent total or partial disability) compensates lasting disability according to a recognised degree of disability.