All about Borrower Insurance – 01 Online Banking


The borrower insurance is not obligatory . The bank may, however, require you to take out loan insurance to cover the risks of death , incapacity for work , disability , loss of employment, etc. The borrower is not obliged to choose the insurance offered and may benefit from the agreement AERAS , Insurance and Borrowing with an Enhanced Health Risk . Should I take out a borrower insurance? What does the borrower insurance cover? How to terminate your borrower insurance? Which borrower insurance to choose? How to pass the medical examination insurance borrower? All about borrower insurance.

What does the borrower insurance cover?


When you apply for real estate credit to the bank , it must ensure that not only will you have the financial capacity to repay all the monthly payments of the mortgage but also ensure that you can repay them in case of major risks of health or financial with the borrower insurance which guarantees these risks.

In order for the bank to ensure that the mortgage will be repaid , the borrower insurance covers the following risks :

  • Death , up to 65 or 70 years depending on the contract
  • Incapacity for work , partial or total temporary inability to exercise his professional activity
  • Disability , permanent partial or total reduction of his abilities
  • The Total and Irreversible Loss of Autonomy ( PTIA ), the most serious disability
  • The unemployment guarantee or loss of employment guarantee, optional guarantee

The borrower insurance benefits the bank but also your heirs so that they do not have to repay your mortgage in case of serious health or financial problem of the borrower.

What information should the bank provide to the borrower?

 What information should the bank provide to the borrower?

The borrower must be informed by the bank of the cost of insurance , the effective annual rate and the amount of the insurance premium .

The borrower is not obliged to choose the insurance offered by the bank , this is called the insurance delegation . The bank must inform you of this right and join you , during the credit simulation, a standardized information sheet which consists of a notice listing the risks guaranteed as well as the conditions for bringing the insurance into play . Once the clauses of the contract of the information notice have been accepted by the borrower , no modifications of the insurer can intervene and oppose the insured .

How to terminate your borrower insurance?

How to terminate your borrower insurance?

You find your insurance borrower too expensive and you want to choose a better insurance borrower ? This is possible with the agreement of the lending bank . So how to terminate your insurance borrower? You must enter into a new borrower insurance policy to terminate the old borrower insurance . The bank may indeed require mortgage insurance . To know how to cancel your borrower insurance after agreement of your bank and to take out a better insurance borrower , it suffices to send a registered mail with acknowledgment of receipt of cancellation :

  • 15 days before the end of the first 12 months of the signing of the contract
  • 2 months before the anniversary date of subscription after the 1st year

Which borrower insurance to choose?

 Which borrower insurance to choose?

A borrower can choose the best borrower insurance in full freedom provided that the insurance contract meets the same level of collateral as that offered by the bank . For this, the bank gives you:

  • A list of the documents needed to examine the file
  • The standardized information sheet to compare borrower insurance offers
  • A personalized form with the list of criteria used to approve the borrower insurance guarantee equivalence (11 maximum criteria for death risks, PTIA, disability and / or disability and 4 criteria for loss of employment)

To choose the best insurance borrower , it is better to choose a insurance borrower of group said collective contract . These contracts do not take into account the age of the borrower, an important criterion in the evaluation of the borrower insurance rate .

You can also take out a dedicated borrower insurance policy . More flexible on the criteria , the dedicated borrower insurance is an ideal senior contract with a death guarantee up to 90 years and much less prohibitive than the collective borrower insurance of the bank . The easiest way to have the best insurance borrower remains to go through an insurance broker after choosing his credit on the comparative mortgage credit . To benefit from the best monthly contribution and thus obtain the cheapest loan insurance , you will have to display the best possible health status during the borrower insurance medical examination .

Tips for Passing the Borrower Insurance Medical Exam


The medical insurance borrower takes place in two stages : the medical questionnaire and the complementary medical examination . The borrower insurance medical examination includes a blood and urine test and an electrocardiogram . The results of the borrower insurance medical examination are valid for 6 months . The medical insurance borrower insurance allows the bank to send you a borrower insurance proposal for your mortgage including:

  • Covered guarantees
  • The conditions to be fulfilled to trigger the guarantees
  • Warranty exclusions
  • The amount of the monthly subscription and the duration of the loan
  • The cost of the borrower insurance with a possible premium according to the state of health of the borrower
  • The waiting period, the period between the opening of a right and the payment of the corresponding benefits

The Borrower Insurance Medical Questionnaire must be completed in good faith . Any misrepresentation by the insured or a deliberately hidden state of health will result in the cancellation of the borrower insurance contract . The borrower insurance will be deprived of its guarantees and it will therefore be impossible to play the insurance in case of death of the insured .

To pass the medical examination of borrower insurance and thus pay less insurance borrower , you must display the best possible state of health by following these tips:

  • Do not eat sweet, fatty and salty foods
  • Drink only water ! No alcohol, soda and fruit juice
  • Avoid smoky atmosphere for 2 days if you stated that you are a non-smoker
  • Wait one to two weeks before taking the exam in case of benign viral pathology (angina, cold, …)
  • Do not do intense physical activity within 3 days before the medical examination

To have a good state of health, it is well eaten . Beware of processed foods without nutritional quality and often very high in added sugar . A good eating habit is zero tolerance on added sugar . Prefer to cook yourself , we are never better served than by ourselves! You will be at least sure of the nutritional composition of your meals and your blood and urine test will have normal levels of blood glucose , cholesterol and triglycerides . Remember that overweight or underweight is enough to cause a premium insurance borrower … It is therefore important to get back in shape before passing the medical insurance borrower .

What to do in case of refusal of application insurance borrower?

A borrower can receive a refusal of his application for credit insurance . The insurance considers that the borrower represents an aggravated risk . In case of refusal of application insurance borrower , you can benefit from the agreement AERAS , Insure and Borrow with a Health Risk Enhanced . To benefit from the AERAS convention , you must:

  • Be in the black
  • To be less than 70 years old at the end of the mortgage repayment
  • Borrow at most 320,000 €

Finally, the AERAS convention stipulates that you have a right to be forgotten and do not have to report cancer if you have been cured at least 10 years ago , 5 years for a cancer diagnosed before the age of 18 years old . The insurer can not apply a surcharge or exclusion of guarantee for this disease.



What is the International Monetary Fund? – Payday Loans

The International Monetary Fund, Eng. The International Monetary Fund (IMF), a special organization under the United Nations, was established in 1945. The statutes are based on the agreement concluded in July 1944 in Bretton Woods, USA, between 44 Allied countries at the initiative of the United States and the United Kingdom. The purpose of the Fund is to promote economic growth based on international trade and orderly exchange rates.

The IMF has (2008) 185 member countries.


The Fund is chaired by a Board of Governors in which all countries are represented, but the Board’s authority is to a large extent delegated to a Executive Board of 24 members. Each of the members here represents either a country or a group of countries; eg. the Nordic and Baltic countries are represented by one director. Headquartered in Washington DC The Director General of the IMF since 2007 is former French Finance Minister Manny Palstein.

Each country has a quota in the currency fund that is determined by the size of the country, the importance of foreign trade, etc. The quota constitutes the individual country’s contribution to the fund. It determines the number of votes the country has, a scheme that causes the United States, the United Kingdom and other industrialized countries to hold a dominant position. The ratio is also decisive for the credit that each member country can obtain in times of payment deficit.

The Statute of the Monetary Fund entails obligations and rights for the individual country.

The Statute of the Monetary Fund entails obligations and rights for the individual country.

The most important is the obligation to maintain convertibility for current transactions, ie to enable companies and individuals to freely acquire the currency they need to import goods and services. However, the currency for capital investments (bank deposits, receivables, real estate, real estate etc.) can be regulated. Under the original agreement, the countries also undertook to maintain fixed exchange rates, ie the exchange rate in their own currency should only be able to fluctuate one percent on each side of the par exchange rate. Changing the par rate required approval of the foreign exchange fund, and this should only be given when there was a “fundamental imbalance” in the country’s foreign accounts.

Credits that countries can draw on without making a payment in advance.

Credits that countries can draw on without making a payment in advance.

From the beginning of the 1970s, more and more countries suspended the fixed exchange rate arrangements, and the fund agreement was reviewed. The revised fund agreement, which entered into force on April 1, 1978, allowed countries to choose between fixed and floating exchange rates, but the original purpose of the currency fund was not changed. Following the 1973/74 oil crisis, the Fund introduced several new credit schemes, of which the oil facility was the most important. This was replaced by an expanded fund facility that gave countries with structurally related problems in their foreign economy access to credits with a longer maturity than ordinary drawing rights.

On January 1, 1970, the Fund introduced Special Drawing Rights (SDRs), special drawing rights.

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