A freedom to choose your loan insurance that can change everything
When we want to borrow to finance a real estate project, the banks require us to take out insurance that covers all or part of the payment of the installments or the capital in the event of incapacity, invalidity or death. The total cost of this insurance can be significant. Until 2010, loan offers and insurance were difficult to separate. It was then possible via the Lagarde Act to choose the delegation of insurance, that is to say to choose a different insurance agreement than the one offered by the bank. Several legislative measures have facilitated the modification of lender insurance in specific cases and deadlines (Hamon Act and Bourquin Act). Since the Lemoine Act, it is possible to change the borrower insurance agreement at any time without delay or notice. Only one condition is necessary: the new contract must at least cover the same risks and at the same guarantee level as the bank’s.
How to compare and choose the best contract?
From the creation of your financing project, if you want to choose a loan insurance delegation, you have the opportunity to compare the different offers on the market to find the one that corresponds to your profile, your budget and your needs. in the form of guarantees that it will have communicated to you through the Standardized Information Sheet (FSI).
To do this, consult an online contract comparator or request a personal quote such as those offered byApril loan insurance.
If you have already taken out a loan, you can still compare other loan insurance offers with the guarantees imposed by your bank and request a quote. You will know how much monthly this contract change will save you. Once you find the right contract, simply ask your bank for approval to make this change and then cancel your current contract. Know that your new insurance company can take care of all these steps.
Contracts for everyone
Based on the basic guarantees that the banks request, the range of possible contracts is wide. For example, you can choose a cover that is more suitable for your age or profession or even for larger investments. First-time buyers, students, civil servants and liberal professions thus benefit from personal contracts. In short: For every profile there is a contract that suits better.