When you apply for loan insurance, whether from the lending bank or the insurance company of your choice, your advisor will assess the level of risk you represent in order to decide on an acceptance or not the provision of credit insurance. In case of aggravated risk, obtaining this loan insurance may be more complicated, depending on the insurer selected.
Insure with an aggravated risk
What is an aggravated risk?
Banks and insurance companies use the term ” aggravated risk ” to refer to a borrower profile that does not match the terms of their conventional loan insurance contracts. And the “group contract” of banks, which is a group insurance that pools risks, generally does not cover an aggravated risk. It should be known that each insurance company sets its own definition of aggravated risk.
The 5 types of aggravated risks
Aggravated health risk in loan insurance
We are talking about an aggravated health risk for a person who is or has been seriously ill or suffering from a chronic illness: diabetes, cancer, ALD,…
Aggravated senior risk for borrower collateral
The aggravated senior risk is related to the age of the borrower. Bank group contracts generally impose an age limit on the duration of the credit.
Aggravated Business Risk in Real Estate Credit Insurance
Aggravated occupational risk refers to so-called “risky” occupations such as fireman, police officer, stuntman, airline pilot, mountain guide, etc.
Aggravated sports or leisure risk in credit insurance
It is a question of aggravated leisure risk when the borrower practices a sports activity considered at risk: paragliding, climbing, scuba diving,…
The aggravated smoking risk for people wishing to insure a loan
When a borrower smokes, he is considered “at risk” by insurers because of the high mortality caused by tobacco consumption.
Get the best borrower insurance policy that fits your aggravated risk
If the bank refuses to insure you because of your aggravated risk, this is not the case for all insurers. The insurance broker-Loan-not-expensive offers you to play the competition between insurance companies for you to get the best insurance contract aggravated risk loan matching you perfectly and at the lowest price on the market!
After that, the bank will not be able to refuse to grant you your credit.
Medical questionnaire mortgage insurance
Objective of the medical questionnaire: define the risk to be covered and adjust the contributions in proportion. It is not systematic but from a certain amount of the loan. It should be filled out honestly because any misrepresentation can result in the nullity of the contract see its break. According to the statements, the insurance company may request additional tests (blood test, medical report, electro cardiogram).
Health risk: The medical secret
- health risks
- medical documents
- medical file
- Confidential medical information
Health risk: AERAS Convention
- AERAS presentation
- guarantees AERAS convention
- Confidential medical information
- treatment delays
- affiliated insurance company
A loan involves ancillary costs, it is important to know them to negotiate them.
In order to fully understand how loan insurance works, ask yourself the right questions:
- What is the purpose of loan insurance?
- How to benefit from transparency on tariffs?
- How to negotiate loan insurance?
- How much does loan insurance cover over the life of the loan?
Please note that under no circumstances are you obliged to subscribe to the insurance policy proposed by your banker.
We find guarantees equivalent to much cheaper and more competitive rates thanks to the different insurance companies with which we work. So compare using our loan insurance calculation tool before signing the bank’s proposal.
A credit insurance contract, like any insurance contract is tacitly renewed, in short it is renewed automatically every year. As you know, the tenths of points we can reduce against your current contract can save you a lot of money over the remaining term of the loan. Let’s compete together by comparing the different insurances of our independent network to find the most advantageous insurance rate. With cheap loan insurance, the specialist online broker: compare and save up to 70% on the insurance of your loan.
How to proceed to request a quote for a home loan insurance with an aggravated risk?
Contact a loan insurance broker for a free and immediate reminder