Credit insurance

Credit insurance is optional but can be made compulsory by the lender depending on the type of credit contracted. In this case, the credit insurance costs are included in the Global Effective Rate (TEG).

Depending on the credit insurance contracted, the insurer covers the repayment of the credit in the event of death, disability, incapacity for work or loss of employment.

Death and disability insurance is compulsory to take out a mortgage. The insurer undertakes to take charge of the repayment of the loan if the borrower is unable to do so following an accident leading to a significant state of disability or incapacity for work.

Death insurance guarantees the payment of a capital to the beneficiary in the event of death during the period of the contract.

Job loss insurance covers all or part of the loan repayments when the borrower loses his income.

Job loss insurance is intended for employees who have lost their job involuntarily (dismissal). Thus, people who resign are not covered by insurance.

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