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Published on 03/09/2022

Changes to the terms and conditions of borrower's insurance

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WHAT'S CHANGING IN 2022?

Borrower's insurance is an insurance policy that ensures the cover of all or part of the repayments or the outstanding capital of a loan in case of unexpected events such as physical incapacity, loss of employment, or the death of the borrower. 

This insurance, which is not compulsory, is often required by banks when applying for a loan. It can be taken out with the lending institution or with an insurance company chosen by the borrower. 

From February 28, 2022, the Lemoine law "for a fairer, simpler and more transparent access to the loan insurance market", reinforces the protection of consumers by modifying certain conditions of the loan insurance. 

See the diagram below that we have prepared so you can understand all these changes more easily.

Benoit et Thomas, Agence Clerc associates are available to answer all your questions !

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