Getting home loan insurance can be more complicated when you are facing or experiencing major health problems. In this case, the AERAS agreement exists.
Convention allowing insurance with severe health risks
When a borrower is affected or has a health problem, it can be difficult to find insurance for the borrower. Depending on the situation, it is possible to obtain coverage on less favorable terms such as an additional premium or exclusion of certain guarantees. Other organizations may refuse credit insurance. However, the borrower’s insurance is Required by the bank to create a mortgage. Thanks to the AERAS agreement, it is possible to “insure and borrow with serious health risks”. We talk about increased health risks when the risk of death or disability due to illness or disability is higher than average. Thus, all persons who wish to borrow and who present these exacerbated health risks may be affected by this AERAS agreement.
Steps to follow to benefit from the AERAS Agreement
The agreement is granted to borrowers who present serious health risks and after consideration health test. subordinate Additional medical examinations may be required. It must be carried out in a center approved by the insurance company.
An insurance company must often implement a reference network with three levels of analysis. The answer usually comes within 5 weeks of receiving the complete file. Banking institutions and insurance companies undertake to inform the borrower in writing in the event that the loan is refused due to its exclusion from insurance.
Find Loan Insurance with Lemoine Law
The Lemoine Act is intended to facilitate access to borrower insurance. Thus, the time limit for exercise The right of people with cancer or hepatitis C to be forgotten has been reduced to 5 years. Thus, former patients are no longer required to declare their previous illness if the treatment protocol that enabled them to recover more than 5 years ago has ended. In addition to the law of Lemoine Delete the health questionnaire For loans for which the sum insured is due Less than €200,000 to be repaid before the borrower turns 60. However, some insurance companies may increase their rates to compensate for the risks.
This is why it is more advisable than ever to use a mortgage insurance broker. This expert will be able to direct the borrower to the institution that offers the best insurance: the insurance that offers the best guarantees at the lowest price according to the borrower’s profile and project.
Find the best insurance in just a few clicks