From June 2022, the mortgage insurance rules have changed. The right to cancel at any time, the removal of medical questionnaires, and the right to be forgotten by people with cancer have been reduced to five years.
The “for fairer, simpler and more transparent access to the borrower insurance market” bill presented by Deputy Patricia Lumoin was passed by the Joint Committee on February 3rd in 2022. It was decisively adopted by the Senator on February 17, 2014.Waiting for promulgation, this new law Aimed to facilitate access to borrower insurance And introduce more competition in this market.Purpose: To enable borrowers Save on the overall cost of their loan insurance..
Borrower insurance, depending on the conditions, guarantees all or part of the unpaid capital, or installments of the loan in the event of invalidity, incapacity or death, and in some cases unemployment. If the law does not require you to take out borrower insurance, in fact the bank will only offer you a mortgage if you have death and disability insurance.
Borrower insurance: Right to cancel at any time
From now on, the borrower can Change loan insurance at any timeWithout waiting for the anniversary:
- from June 1, 2022 For a new mortgage
- from September 1, 2022 for current insurance policies..
Currently, the borrower can change the borrower’s insurance at any time during the first 12 months. Beyond that, it can change once a year on the anniversary of the signing of the loan offer. According to MP Patricia Lemoine, borrowers should be able to save up to € 15,000 per credit file.
The obligation to notify policyholders has also been strengthened. Each year, the insurance company must notify the policyholder of the existence of the right to cancel. And how to implement it.
Deletion of health questionnaire under conditions
From June 1, 2022Eliminates the need to fill out a health checkup or perform a health checkup For mortgages with a per capita insured portion of less than € 200,000. Also, the repayment must be completed before the insured’s 60th birthday...
By removing the medical questionnaire, you should ensure that borrowers who are considered to be at higher risk (smokers, health problems, etc.) do not bear additional premiums or guarantee exclusions.
Reduced right to be forgotten period from 10 years to 5 years
With “right to be forgotten” Former cancer patient Eliminates the need to report illness to an insurance company 5 years from the end of their treatment protocolCompared to the current 10 years, when cancer was diagnosed 21 years later. Right to be forgotten extends to patients with hepatitis C Under the same conditions.
In the next three months, the signatories of the Aeras Convention (Insurance and Borrowing with Exacerbated Health Risks) should begin the following negotiations:
- Expand the right to be forgotten For patients with medical conditions other than cancer
- Extend the reference grid to more medical conditions Anything that prohibits or regulates the exclusion of additional premiums and guarantees,
- Raise the borrowing limit (Currently € 320,000) Affected by the Aeras scheme.
If the agreement fails, the terms of access to the Aeras agreement will be set by By statute by July 31, 2022.