The number of new cancer cases has doubled in France since 1990*; these diseases represent leading cause of premature death in our country, in front of cardiovascular diseases. Two reasons that could justify the banks’ reluctance to lend to the affected individuals. Fortunately, the rules protect people who have overcome the disease, but also those who continue to fight to recover. Magnolia.fr takes stock options for access to loan insurance in the event of cancer.
Borrower insurance: essential to secure a mortgage
Although not based on a legal obligation, the subscription is onborrower’s insurance is a prerequisite for get a mortgage. The insurance reimburses the bank in the event of default by the insured and is part of warranty costs necessary to secure the loan.
The insurance intervenes in specific cases: death, disability and incapacity. It is based on specific guarantees which covers these risks according to the terms of the contract and up to loan insurance quota.
The subscription goes through the mandatory step of health quiz which informs the insurance company about the loan applicant’s background and current state of health. Based on the information provided, the professional formulates an insurance response, accompanied by an additional premium or exclusion of warrantyand in case of too high risks, one opposes refusal of loan insurance.
People presenting with increased health risks find it difficult to access insurance and credit: either the rate is unaffordable, or the cover offered does not provide sufficient protection due to exclusion, or they are refused and cannot obtain bank financing.
Borrower’s insurance and Aera’s agreement
The legislature has introduced Convention of Aera (Insurance and loans with a worsening health risk) to respond to the problem of people affected by the disease. Depending on the pathology in question, it is possible toaccess to loan insurance at standard rates or with a premium cap, exclusions from coverage may apply. A reference grid that evolves with advances in medicine identifies pathologies eligible for the unit after a post-diagnosis period.
There Convention of Aera contains a basic measure for borrowers who have suffered from cancer : below right to be forgottensomeone in remission since at least 5 years after the end of the therapeutic protocol and without relapse have not to declare his previous illness in health questionnaire for borrower insurance. Prior to the Lemoine 2022 Act, the period was 10 years. The device is now available to people who have been cured of viral hepatitis C.
Now let’s look at how it is possible to access insurance and a mortgage if you have or have had cancer, depending on your personal situation.
You are sick with cancer
As long as the insured part does not exceed €420,000and the term of the loan begins before your 71th anniversary, you argue for Convention of Aera, an entity that opposes banks and insurance companies. Depending on the cancer pathology, the date of diagnosis and the biological markers, you can take one loan insurance at or close to standard terms.
Here are some examples of cancers that allowaccess to insurance under acceptance conditions without additional premiums or exclusions:
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stage 1 testicular cancer from 3 years from the end of the therapeutic protocol and without recurrence
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certain breast cancers in situ from one year after the end of the therapeutic protocol and without recurrence
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stage 1 colon and rectal cancer from 4 years from the end of the therapeutic protocol and without recurrence.
For certain invasive breast cancers, borrower insurance is available after a period of 3 years after diagnosis with an additional premium of 100% in case of death, PTIA, incapacity and disability cover.
You have been ill with cancer
In addition to a period of 5 years after the end of the therapeutic protocol and in the absence of a relapse, you benefit right to be forgotten which allows you not to disclose your previous illness to the insurance company, regardless of its location and histological type. If the cancer is stated in the form, the insurance proposals must under no circumstances contain the exclusion of guarantees or additional premiums in relation to this prior.
Any other pathology or risk factor, situations of incapacity or invalidity, whether related to cancer, covered by the right to be forgotten, must be indicated in the questionnaire and will be the subject of a detailed response from the insurance company.
Access borrower insurance without a health questionnaire
For loans in the order of magnitude less than €200,000 (€400,000 for a pair with a quota of 50% on each head) refunded before your 60th anniversaryyou do not need to fill in a health questionnaire when you take out loan insurance.
This measure introduced by Lemoine’s law 1eh June 2022 takes offinclusion of people who are ill or have been illbut it is primarily about young borrowers (between 25 and 35 years old) due to the legal limit for repayment of a fixed mortgage loan 25 years (rules for awarding HCSF).
If you comply with the conditions, regardless of your state of health and the history of pathologies that you may have suffered from, the insurance company no longer has the right to obtain health information about you. You get access to loan insurance without additional premium or exclusionand you do not risk a refusal of insurance.
Regardless of your situation, you have the option change mortgage insurance at any time and for free without waiting for the due date. If you are covered by a contract that is expensive or provides little protection because it comes with an additional premium or exclusion of coverage for health reasons, take advantage of Lemoine’s law. You can now benefit earlier from the right to be forgotten Or escape the health questionnaire depending on your profile and the characteristics of your home loan.
*French Public Health Survey
