Borrower Insurance: Play Competition – Pleine vie

It is now possible to change your mortgage insurance at any time. Opportunity to reduce your bill with equal guarantees.

Warranty issues

Although it is not compulsory when buying real estate on credit, insurance is always required by the bank. And for good reason: it provides (conditionally) for compensation of the remaining capital owed to the bank in the event of death, disability, inability to work, or even loss of employment. Until now it was difficult to escape from the contract presented by the bank when taking the loan, and the complexity of changing it later. From now on, any borrower can exchange his insurance for a competing offer with equivalent guarantees. (Law No. 2022-270 of February 28, 2022, better known as Lemoine) . This right is valid at any time, a few days or years after the start of his credit.

The goal: to provide access to contracts that are less expensive than those of banks, and to restore purchasing power to households.

+ Full life: The weight of the insurance in the total cost of the loan is often ignored by the borrower, worried about earning 0.10% borrowing rate when they accept the full insurance!

New rights

It is up to all insurers to inform their customers of the new right of substitution and the conditions for its implementation. To validate this substitution, you must present your bank with a contract with a collateral level equal to their collateral level. CCSF has established a network of required safeguards.

The rights of the insured have been strengthened through two other measures. First, it is no longer necessary to complete a health questionnaire for any home loan of less than €200,000 (€400,000 for a married couple) that will be repaid before the insured’s 60th birthday.

Until now, it was necessary to declare any disease that posed a health risk, which led to an increase in the contribution or exclusion from coverage.

The second advance: Former cancer or hepatitis C patients will not have to declare their illness five years after the end of the treatment protocol (ten years before the law) when the cancer was diagnosed 21 years later, except in cases of relapse.

+ Full life: Do not postpone the change of insurance during the loan: the sooner you act after obtaining it, the greater your financial gain.

Why did the contract change?

The first reason: to save money. It is impossible to give an exact amount, the latter depends on various criteria (the age of the borrower, the amount insured, the term of the loan, the collateral chosen, etc.). Alternative brokers and insurers pinpoint gains of several tens of euros per month, or savings of thousands of euros over the life of the loan. This is especially true for households 45 or younger, even if you can still earn over 50, and that’s without reducing, or even improving, the guarantees.

This is the second reason for competition: Improve your coverage. In recent decades, the guarantees are often more specific and the exclusions fewer. It is also possible to do this on demand, for example by including coverage of a risky profession or sport.

third reason: Your situation changes over the years. A repentant smoker, an overweight person who has melted…: enough to get a contract more suitable to your current profile and cheaper.

Changing insurance can be harmful if you go over the two-thirds mark for the loan. You are then older, and subject to higher rates. If your current insurance is calculated on the basis of the principal due, the cost of the insurance decreases over time, then the change will not necessarily be beneficial. Finally, if your health condition develops unfavorably, you will face high rates or significant exceptions.

+ Full life: Use insurance comparisons on the Internet:,, … They allow you to get prices and measure whether your insurance is too expensive. Look at collateral, loan insurance is a major guarantee for your family.

Steps to take

Send a registered letter requesting the replacement of the contract to your bank. The latter has ten business days to respond. Know that she can refuse, provided that she justifies her position. This fairly short period set by law should avoid the risk of double deductions between the old and the new insurance. The bank cannot change your existing loan offer or charge you for the insurance replacement process. You can delegate a contacted broker or insurance company to take care of everything for free.

+ Full life: If you are alone with your banker, it is difficult to get change without compensation. Hence the interest to be accompanied by resorting to qualified operators for comparison.

Use cases and savings

Couple, 47 and 48 years old, employee and business manager, Non-smokers, has a loan with an outstanding capital of €104,535 over 14.6 years. For a 100% insured loan per person, it costs them 78 euros per month in the Banque Populaire, for 34 euros per month after replacement. This is a gain of 45 euros per month.

Couple, 51 and 45 years old, worker and employee, Both light handlers and smokers took out two loans from Caisse d’Epargne with a principal payable of €53,016 for him over 19.5 years and €70,037 over 9.5 years for her. For a 50% insurance on each head for both loans: €92/month. After replacement, 28 € / month. This is a gain of 64 euros per month.

51-year-old man, manager, Non-smoker, has a loan of €169,000 over 20 years. For 100% of the principal insured, it cost him €72 per month at the Postal Bank, compared to €41 per month after replacement. That’s a gain of 31€/month.

These examples are taken from data provided by Securimut ( from real cases that have been treated.

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