With the entry into force on 1 June 2022 of the Lemoine Law for new borrower insurance policies, La Banque Postale and CNP Assurances are committing in favour of access to real estate loans with the freezing of standard borrower insurance rates and the widespread elimination of additional premiums for aggravated health risks as part of AERAS level 2 policies.
With the entry into force of the Lemoine Law on 1 June 2022, La Banque Postale and CNP Assurances are reaffirming their commitment to the purchasing power of their customers by:
- freezing the rates of their standard borrower insurance policy
- eliminating AERAS* level 2 additional premiums, which on average doubled the contributions of the policyholders concerned.
Through this measure, La Banque Postale and CNP Assurances are confirming the importance of the pooling of risks and the principles of solidarity. These measures apply from 1 June 2022 for new policies marketed by the La Banque Postale network.
Enacted on 28 February and gradually coming into force, the Lemoine Law “for fairer, simpler and more transparent access to the borrower insurance market,” provides greater flexibility through the following measures:
- the termination, at any time and free of charge, of the borrower insurance policy, with an annual reporting obligation (as from 1 June 2022 for new loan offers)
- the display of the total amount due in euros over a period of eight years in respect of borrower insurance
- the elimination of the health questionnaire for real estate loans up to an amount of €200,000 per policyholder (€400,000 for two borrowers insured fifty-fifty) coming to maturity before the borrower turns 60 (applicable from 1 June 2022)
- the reduction of the right-to-be-forgotten period from ten to five years; for former cancer or hepatitis C patients (applicable since 1 March 2022)
Philippe Heim, Chairman of the Board of Directors of La Banque Postale
“Through this measure, which goes beyond the Lemoine Law, La Banque Postale is committed to supporting the greatest number of French people in the achievement of their real estate project and eliminating exclusion factors. It is also a concrete response to today’s purchasing power concerns. This is in line with our banking inclusion values. It is on these grounds that we devised this measure with our subsidiary and long-standing partner, CNP Assurances.”
Stéphane Dedeyan, CEO of CNP Assurances
“Fully committed to pushing back the limits of insurance, CNP Assurances has long worked to facilitate access to borrower insurance while guaranteeing the pooling of risks. With purchasing power under pressure, the additional measures we are taking to freeze prices and eliminate AERAS level 2 additional premiums in partnership with La Banque Postale are consistent with our corporate mission for an inclusive society and the search for solutions that facilitate all life journeys.”
1 The objective of the AERAS Agreement, signed by the public authorities, professional banking and financial federations, and insurance, mutual insurance and patient and consumer associations, is to facilitate access to insurance and loans for persons having or having had a serious health problem. Level 2 corresponds to a pooling framework for more serious risks that could not be covered under a standard borrower insurance policy.