Seniors : no delegation insurance no credit immo ?

According to the comparator by line of insurance borrower borrowers aged 70 to 75 years may find insurance rates borrower around 1 %. And get access to the real estate credit… But to do this, they will need to opt for the delegation of insurance – the group insurance contracts of the banks being not or slightly open to borrowers over the age of 65. Focus.

The access to credit insurance to borrowers seniors

According to when it was over 65 years of age, it is very complicated or even impossible to subscribe to the insurance contract borrower’s group proposed by his bank. Some of the contracts group will remain open to the senior citizens but » under certain conditions and in this case they wouldn’t be exceeding their 75 years «. Thus, » unless you opt for a repayment period short (10 years) – we can read on the site – the borrower is not insured until the term of the loan «.

Thus, the number of senior candidates to the mortgage loan do not have other opportunities than to choose the delegation of insurance, that is to say, to decline the offer of a contract group of the bank for the benefit of an insurance – freely chosen – with the same guarantees.

Fortunately, the insurance contracts of the loans contracted since the 1st of march 2017 can now be terminated annually. This ability to terminate insurance borrower each year on its anniversary date will be extended to all borrowers – and not only to «new borrowers» as of 1 January 2018.

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A insurance rate of 1% for the borrowers and seniors

The borrowers of 70 to 75 years – depending on – to find the insurance rates around 1 %. According to the report of the cabinet actuarial BAO published in February 2017, the rate of loan protection insurance – death only – proposed by the banks to the borrowers of 66 years old is going to 0.78 % (The Postal Bank) to 1.75 % (Société Générale) …

For a borrower of 63 years, the insurance comparator borrower said to be able to find deals to 0.5 %, » while banks offer a rate close to 0.9 % «.

In these conditions, recommends to the borrowers senior citizens, including » the contract of insurance is not covered until his or her term by the bank, not to wait for the cancel to take advantage of lower rates «.

To help you pay less for your loan protection insurance, bank notes also suggest you to opt for the delegation of insurance and to compare insurance mortgage Panorabanques !

Neil Bensouda




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