Borrower insurance: senators reject the possibility of terminating “at any time”

The senators retoquent borrower insurance “at any time”, as we announced on Monday … Meeting in the Economic Affairs Committee, the senators of the LR group and centrists, the majority, adopted several amendments restoring the annual termination of the contract of borrower insurance (death, disability, illness, etc.).

This rewriting goes against the bill of the deputy Patricia Lemoine (Agir Ensemble), supported by the government, favorable to a free termination, “at the request of the borrower”, whatever the date of signature of the contract.

This so-called “infra-annual” termination was adopted at the end of November almost unanimously by the deputies. This reworking of the text, carried out under the aegis of the text’s rapporteur, Senator LR Daniel Gremillet, provides that the customer who has taken out a borrower’s insurance contract may terminate his contract on the anniversary date of the signature of his loan (in the absence of a date of signature, on the date indicated in the contract).

“The banking lobby is still at work”

In return, the text of the senators reinforces the information of the insured. It obliges the insurer to inform its client in advance each year of its right of termination as well as the procedures for implementing its termination and the various deadlines that it must respect. The cost of the insurance should also be specified over eight years – the average effective duration of possession of a property – and no longer just over the entire duration of the loan. An amendment also aims to remove any medical questionnaire for home loans below 200,000 euros maturing before the borrower’s 65th birthday.

“The reality behind all this is that the banking lobby is still at work, reinforced today by the electoral tactics of the opposition, which refuses to validate a measure in favor of the purchasing power of households in full presidential debate”, denounces Astrid Cousin, spokesperson for the Magnolia Group.

A new meeting in February to try to reach an agreement

“It’s a step backwards because we leave the complexity of the termination in the hands of the borrower instead of simplifying the process and making him master of the game, adds Isabelle Delange, spokesperson for the Apcade (Association for the promotion of competition in creditor insurance, resulting from several insurance players including Macif, Allianz, April…). It is subject to an expiry date which is required to be communicated by actors – banks and insurers – without being able to verify their correct information… Senators do not like what is simple and prefer to complicate the lives of policyholders and insurers alike. bankers. »

This new version amended by the senators must now be examined in public session Wednesday, January 26. A joint joint committee (CMP) is already planned to try to find a compromise between these two divergent texts. It should be held in February before the end of the legislature set for February 28.

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