From age 50, taking out borrower insurance can be more complex: surcharges, exclusions, refusals by banks… As an independent broker, Prialys helps you find the best coverage, adapted to your age and health profile.
Our solutions for seniors:
- Coverage available up to age 85 depending on guarantees.
- Modular guarantees: option to subscribe only Death + Total Loss of Autonomy for rental or secondary investments.
- AERAS Convention for profiles with health history.
- Right to be forgotten (Lemoine Law): 5-year period for cancers and hepatitis C.
- Personalized human support throughout the process.
- Financial security: Mortgage borrower insurance covers your loan instalments in the event of incapacity to work or death, ensuring that your property remains protected from the unexpected.
- Flexible guarantees: Choose coverage tailored to your specific needs, including options such as cover for total and permanent loss of autonomy (PTIA), temporary incapacity for work (ITT), and even job loss.
- Competitive rates: Benefit from tailor-made offers with borrower insurance rates that vary according to your state of health, the loan amount, the guarantees selected and the terms of the contract, and achieve significant potential savings depending on your insurance, the amount of your loan and the guarantees chosen.
The guarantees of borrower insurance
| Death | If the insured passes away, borrower insurance covers the outstanding balance of the mortgage loan. |
| Total and Permanent Loss of Autonomy (PTIA) | If you become totally disabled and unable to work, borrower insurance repays the outstanding capital due. |
| Temporary Incapacity for Work (ITT) | Borrower insurance covers the loan instalments in the event of temporary incapacity due to an accident or illness. |
| Job loss | This option covers all or part of your instalments in the event of job loss. |
How does mortgage borrower insurance work?
When taking out a mortgage loan, the bank generally requires borrower insurance to cover the risk of non-payment linked to life’s accidents. Here are the steps to subscribe with Prialys :
- Personalised quote: Get a free online simulation to obtain an estimate of the total cost of your mortgage borrower insurance contract based on the amount borrowed, the guarantees to be chosen and the applicable rate, taking into account your age, health conditions and the risks to be covered.
- Health questionnaire: Depending on the loan, your age and your state of health, the insurer may adjust the terms of the borrower insurance contract according to the bank’s requirements and the guarantees chosen.
- Selection of guarantees: Choose the protections suited to the risk to be covered for your mortgage loan, ensuring that the guarantees are equivalent to the requirements of your lending bank.
- Signing the contract: Once all the steps have been validated, your mortgage borrower insurance contract is ready to cover the defined risks and meet the obligations imposed by the bank.
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- No personal procedures with your bank
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Find the borrower insurance suited to your profile
Back to hub: Borrower Insurance – See also: switch insurance, large loans.
Switch insurance
Lemoine Law: cancel at any time and save on your loan insurance.
Learn more →Seniors 50 and over
Tailor-made solutions for senior borrowers, up to age 85.
Learn more →Primary residence
Protect your home with complete, personalised coverage.
Learn more →Rental investment
Optimised guarantees and SCI advice for your investment.
Learn more →Secondary residence
Coverage adapted for your family home or second home.
Learn more →Large loans > €500k
Premium solutions for high-value mortgage loans.
Learn more →What documents are required to take out mortgage borrower insurance?
- Mortgage loan agreement: Provide the loan details (amount, term, lending bank).
- Health questionnaire: A simple questionnaire to assess your current state of health.
- Proof of identity: ID card or passport to authenticate the application.
- Bank details (RIB): Bank account details for the collection of premiums.
Our plans for your mortgage borrower insurance
| Criterion | Details |
|---|---|
| Death guarantee | Covers the outstanding loan balance in the event of the insured’s death. |
| Total and Permanent Loss of Autonomy (PTIA) | Covers the entire outstanding capital due in the event of complete disability. |
| Temporary Incapacity for Work (ITT) | Reimbursement of instalments during work stoppage following an accident or illness. |
| Job loss (optional) | Covers part of the instalments in the event of involuntary job loss. |
| Age limit | Subscription possible up to age 65, guarantees ending at 75. |
| Criterion | Details |
|---|---|
| Death guarantee | Covers full repayment of the loan in the event of death. |
| Partial or Total Permanent Disability | Covers repayment according to the disability rate (partial or total IPT). |
| Temporary Incapacity for Work (ITT) | Reimbursement of instalments in the event of temporary incapacity following an accident or illness. |
| Premium waiver | Premiums are suspended in the event of prolonged incapacity or disability. |
| Age limit | Subscription possible up to age 60, guarantees active until age 70. |
The documents required to switch mortgage borrower insurance
To switch your mortgage borrower insurance, several documents are required to facilitate the transition and ensure your new insurance complies with the bank’s requirements. First, you will need to provide a cancellation letter sent to your current insurer by registered mail with acknowledgement of receipt, in accordance with the rules of the Hamon or Bourquin laws, depending on your situation. Next, a copy of the mortgage loan agreement or an amortisation schedule is essential so that your new insurer can adjust the contract according to the remaining amount and term of the loan. You will also need to complete a health questionnaire or, in some cases, provide a medical certificate, especially if the loan amount or your age requires it. In addition, you will need to provide proof of identity (ID card or passport) and bank account details (RIB) to enable automatic payment of the new insurance premium. Finally, to facilitate acceptance by the bank, an equivalence-of-guarantees certificate is often required to show that the new insurance offers protection at least equal to that of the original contract proposed by the bank.
To learn more about switching mortgage loan insurance, read this article.
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FAQ - Mortgage Borrower Insurance
General information about mortgage borrower insurance
| Question | Answer |
|---|---|
| What is mortgage borrower insurance? | Mortgage borrower insurance protects both the borrower and the bank by guaranteeing repayment of the loan in the event of death, disability or incapacity to work. |
| Is it mandatory? | It is not required by law, but credit institutions and lending banks require insurance to cover the risk of payment default and ensure repayment of the loan in the event of a claim. |
Guarantees and coverage
| Question | Answer |
|---|---|
| What risks are covered by mortgage borrower insurance? | The main risks covered are death, total and permanent loss of autonomy (PTIA), temporary incapacity for work (ITT), and, as an option, job loss. |
| Can I add options to my borrower insurance contract? | Yes, some insurers offer options such as job-loss cover, which covers all or part of the instalments in the event of redundancy. |
Cost and subscription
| Question | Answer |
|---|---|
| How is the cost of mortgage borrower insurance calculated? | The cost is calculated based on the borrower’s age, the loan amount, the term, their state of health, and the guarantees chosen. |
| What documents are required to take out mortgage borrower insurance? | You will need to provide the mortgage loan agreement, a health questionnaire, and the required supporting documents (identity, bank details), which are essential to subscribe in accordance with the applicable regulations. |
Switching insurance
| Question | Answer |
|---|---|
| Can I switch mortgage borrower insurance? | Yes, thanks to the Hamon, Bourquin and Lemoine laws, you can switch insurance under certain conditions, including within 12 months of signing or on each contract anniversary date, and with the Bourquin law, every year on the anniversary date. |
| How do I choose a new insurance policy? | It is essential to compare mortgage borrower insurance contracts based on subscription conditions, the applied rate, the loan amount and risk coverage, while taking into account the right to switch contracts under the Lemoine law and the potential to save on the total cost by choosing a more advantageous insurer. Make sure the guarantees offered are equivalent to those in your bank’s initial offer, as required by the Lemoine law to switch insurer in full compliance. |
Back to hub: Borrower Insurance – See also: switch insurance, large loans.