FAQ

Borrower insurance is generally required by the bank to grant a loan. This insurance takes over in the repayment of the loan if you are faced, in your life, with a hazard which prevents you from continuing with the normal repayment of the due dates. It provides protection to the bank which grants you the credit, as well as to you.

The main events covered by this type of insurance are: death, total and irreversible loss of autonomy, disability or partial or total incapacity to work, whether following an accident or illness.

Since 2010 and the introduction of the Lagarde law, borrowers have been free to choose the property loan insurance they want other than that offered by the Bank with the loan. This operation is called “insurance delegation”. It allows you to compare guarantees and prices, often with great savings as a result.

The credit insurer offers a range of borrower insurance solutions for all profiles and for all projects.

Insurance delegation allows you to benefit from personalized and advantageous rates on your property loan insurance, calculated according to your profile and your outstanding capital. The amount of your insurance contribution takes into account your age, your profession, your state of health, your “smoker” or “non-smoker” status as well as the amount of the property loan to be insured.

These are companies competing with those of the banks which offer these solutions: in this case you benefit from individual insurance, different from the group insurance offered by your bank, and therefore from a more personalized and generally very competitive price!

Insurance substitution allows you to cancel your current borrowers' insurance and take out new one, whether or not you have opted for a delegation of insurance or chosen the Group insurance offered by your banking establishment during the initial signature of your loan offer. With the Lemoine Law, it has been possible, since 2022, to change borrower insurance at any time.

Make a quote with the credit insurer, our teams will assist you with your file.

Insurance delegation has three advantages compared to group insurance:

1/ The rates are individualized because they are calculated based on your exact insured profile;

2/ The amount of your installments is lower because it is generally calculated on the remaining capital. Clearly, the more you repay your mortgage, the more the amount of your mortgage insurance contributions decreases;

3/ If applicable, if your request for borrower insurance is refused by your bank's insurer (for reasons related to your health for example), the delegation/substitution of insurance may constitute the solution to insure your property loan.

To agree to substitute a competing individual insurance contract for its Bank insurance solution (known as a Group Contract), the lending institution will verify that the coverage offered by the competing contract is at least equal to the initial contract. We are talking about guarantee equivalence control.

The pack of minimum guarantees required by each Bank may vary over time and depending on the local banks for regional banks. This minimum level of guarantees must be taken into account in order to present a loan insurance contract which is compatible with the requirements of the establishment which granted you your credit.

You don't have to worry about it, the credit insurer teams are experts in the field and will help you find the best solution!

Your bank cannot refuse your request for substitution of loan insurance. The only condition: the covers of the new offer must be at least identical to those initially offered by your bank. This is called “guarantee equivalence”.

If your bank wishes to refuse your insurance substitution, it must justify its decision in writing. With Valorama you do not manage all these steps, we take care of the termination and replacement procedures with your bank!

It determines the cases where people who have suffered from a serious pathology without relapse for a certain number of years no longer have to declare this pathology when applying for insurance.

The Lemoine law, which came into force on February 28, 2022, brings this deadline to 5 years for cancers and hepatitis C, instead of 10 years. It is an opportunity for cured people to be able to carry out their project. Are you affected? Do not hesitate to request a simulation. And with the credit insurer, you do not discuss your state of health with your advisor: all medical declarations are made in a secure, confidential medical space!

The Lemoine Law aims for “fairer, simpler and more transparent access to the borrower insurance market”. In addition to allowing the substitution of loan insurance at any time, it also encourages the subscription of insurance contracts for people with increased health risks.

The principle of Lemoine’s Law? No medical questions upon membership for people who borrow less than 200,000 euros and who will be under 60 years old at the end of the loan. A great opportunity to accelerate and simplify the process of acquiring a primary or secondary residence for many borrowers.