The real estate loan insurance is a temporary insurance, limited to the duration of the mortgage, which guarantees the latter, in the face of various hazards such as death, temporary incapacity for work, permanent partial disability, permanent and total disability known, total and irreversible loss of autonomy, professional disability for medical, paramedical and veterinary professionals, and loss of employment.
Known as loan insurance, or even credit insurance, real estate loan insurance covers the repayment of your mortgage in the event of unpaid real estate dues and increases the cost of your loan.
Real estate loan insurance is available to former cancer patients following the law of march 24, 2015 stating the individual’s right to be forgotten in health matters.
Colautti insurance intervenes in specific cases that are often even excluded by traditional insurance, such as certain specific pathologies, herniated discs, depression, hiv and certain professional and sports activities deemed at risk, such as air sports, motor sports, activities on offshore oil production platforms in high-risk countries, airline pilot, etc.
To overcome and prevent these complications, the lender requires real estate loan insurance to cover credit-related risks.
The hamon law already allowed you to terminate your loan insurance contract within the same year that you took out your loan.
From 01/01/2018, the bourquin amendment will allow you to terminate your loan insurance contract, after the twelve months subscription period and each year.
From january 1, 2018, each borrower will be able to terminate her/his loan insurance on each anniversary date of his borrower guarantee, by giving several months’ notice before the main deadline.
The counterpart is to provide your bank with an estimate with equivalent guarantees to allow the termination of your old contract and to provide the new one with a termination certificate.
The estimated gains vary according to the organizations involved but on average, we estimate that for an average loan of 160,000 €, the gain is 10,000 €.
It remains up to you to ask us to judge the savings you can achieve.
Taking advantage of this opportunity, we will offer you other guarantees to supplement and enrich your current guarantees which are not always suitable for your situation.
We call upon our french and foreign partners, members of orias.
The bourquin amendment provides for an annual termination right for all borrowers, allowing them, on each anniversary date, to substitute their current loan insurance contract with another, provided it has an equivalent level of guarantee.
This right was officially ratified on january 12, 2018 by the constitutional council. Do not hesitate to contact your customers
Stakes:
– a market estimated in 2017 at 6.5 billion euros in contributions and held for nearly 80 by banks.
– 8 million borrowers: 1 in 3 households currently pay for borrower insurance.
– insurance outside the bank can reduce insurance premiums by 20 to 80% depending on the client’s situation and the characteristics of the loan,
– advantageous aviva commission rates (discounted 45%, 15% or linear 30%).
The principles :
– only concerns real estate loans for private individuals.
– the guarantees of the new contract must be of a level at least equivalent to those of the previous insurance contract,
– it will be possible to change your contract once a year on the anniversary date of the contract,
– a notice of at least two months before the expiry date must be respected in the exercise of this right of termination,
– the list of equivalence criteria required by the bank must appear on the bank’s website; the bank has 10 days to give its position. Its refusal must be justified on the basis of the criteria of equivalence of guarantees. In the event of non-compliance, the bank may be fined € 3,000.
The targets :
– individual and professional clients for private real estate loans.
– aged 18 to 50 years old.
As a reminder, the bourquin amendment introduces an annual substitution right from the loan insurance contract, without calling into question the possibility of substitution which already exists today within the 12 months following the signing of the loan offer (law Hamon, * you can find the Hamon pack on your online orders).
Société immatriculée à l’ORIAS dans la catégorie courtier d’assurance sous le numéro 12065180 (www.orias.fr) Responsabilité Civile Professionnelle et Garantie Financière conformes aux articles L512-6 et L512-7 du Code des Assurances – sous le contrôle de l’ACPR, 61 rue Talbout 75009 Paris
(www.acpr.banque-france.fr)
Du lundi au vendredi,
de 9h00 à 12h00 et de 14h00 à 18h00.
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