Already repaying a mortgage in France? You can compare insurance without waiting for the contract anniversary. The Lemoine law allows you to switch at any time, without cancellation fees, for eligible mortgages. The replacement must provide a level of cover equivalent to your lender’s requirements.
Switch without leaving a gap in cover
Gather your current policy, outstanding balance, remaining term and your bank’s personalised requirements sheet. This identifies the benefits and insured shares required. Submit the proposed policy to the lender for approval, then coordinate the end and start dates. Requesting a comparison does not cancel your existing insurance.
The bank has ten working days to respond to a complete substitution request and must explain any refusal. The process is described by the French Ministry of the Economy.
When is a health questionnaire unnecessary?
For mortgages covered by the scheme, insurers cannot request a health questionnaire or medical examination if your insured share of the combined outstanding loan balances is no more than €200,000 and repayment ends before your 60th birthday. The limit applies to each insured person, taking account of their insured share and other insured loans. Service Public explains these conditions.
The right to be forgotten is five years
A previous cancer or viral hepatitis C need not be declared once at least five years have passed since the end of the treatment protocol, with no relapse, subject to the scheme’s conditions. Outside this framework, the AERAS agreement and reference grid may help insurers assess your application. See the official AERAS rules.
Compare over your remaining repayment term
A lower monthly premium is only part of the picture. Compare premiums over the same remaining term, any fees, insured shares, exclusions and how benefits are paid. The French annual effective insurance rate (TAEA) and total cost in euros help complete the comparison.
To prepare your application, start a mortgage insurance simulation. Enter your loan details and circumstances so an adviser can assess a suitable proposal and check it against your bank’s requirements.
Cross-border loans and fees: two useful points
The right to change insurance at any time applies to loans and contracts covered by the French rules. CHF alone does not determine the applicable law: financing governed by Swiss law requires a separate review.
Bank fees for insurance substitution are distinct from any charges under the new policy or for intermediary services. Include the latter when comparing the remaining cost.
