Insurance borrower : “It is necessary to surpass the blockages and the defence of pensions corporatist “

Forum. The act of February 21, 2017 was opened to any borrower the right to terminate each year of the insurance contract subscribed on the occasion of the conclusion of a mortgage loan. Already applicable to loan offers issued from 22 February 2017, this right will be extended from 1 January 2018 to all contracts of insurance running to this date. This measure in favour of consumers was passed unanimously by the national Assembly and the Senate.

An important measure to the right of the consumers as for the general interest

Yet, today, the constitutional Council is seized by way of a priority question of constitutionality (QPC) as a result of the intervention of the French banking Federation, which is trying to overturn the provision that applies to stocks and therefore the retroactivity. The hearing will take place Monday 11 December. In these circumstances, we wish to recall, as parliamentarians, and on a basis transpartisane, the importance of this measure to the right of the consumers as for the general interest.

We are regularly seized of the difficulties encountered by our constituents, for which a real change of practices is essential. At the time it enters into a credit, an individual must purchase insurance involved a guarantee of its loan. This obligation is a guarantee for the borrower but also to the lender since the insurance allows you to repay the credit in the event of a hazard (death, disability, loss of employment, etc.).

“Delegation of insurance ”

The insurance borrower is a fast-growing market that represents the considerable amounts of money : $ 8.8 billion euros in premiums in 2016, including $ 6.5 billion for the only insurance of real estate credit. For several decades, the borrower was compelled to subscribe the insurance contract proposed by the lending bank, without any choice to it is in practice…

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