All you need to know about loan insurance

When you take out a loan, you must also take out insurance for that loan. This insurance can sometimes represent more than a third of the total cost of your mortgage. Fortunately, a number of laws enacted in recent years enable you to reduce the cost.

La loi Lemoine, the most recent, has radically reformed creditor insurance, to the benefit of consumers. Here are the main changes key points:

1. Possibility of cancellation at any time for another loan insurance
2. No more health questionnaire for a credit of less than €200,000 if the loan ends before the age of 60 of the borrower
3. Reduction of the right to be forgotten from 10 to 5 years for a borrower who has recovered from cancer or hepatitis C