By Romain Rousseau
The new law
Allows any policyholder to cancel their loan insurance contract at any time and at no cost for all loan offers issued from 1 June 2022 onwards and for all insurance contracts in force from 1 September 2022 onwards.
Eases the medical requirements for obtaining a loan. It is no longer necessary to declare a medical diagnosis (e.g. cancer) that has been cured for more than 5 years. This has been reduced from the current 10 years.
Removes the need for a medical questionnaire for housing loans, if the amount of the loan does not exceed €200,000 per borrower and for which the loan repayment date must occur before the borrower’s 60th birthday.
Allows a change the loan insurance during the lifetime of a loan and therefore possibly get a cheaper policy.