Bank requirements change depending on the economic context.
This also applies to loan insurance.
In recent months, organizations have been offering, sometimes requiring, that the borrower take out new guarantees.
Starting with that linked to the loss of employment.
“Banks are smart, and can try to take advantage of the crisis,” slips Astrid Cousin, spokesperson for Magnolia.fr, loan insurance broker.
At first glance, the job loss guarantee is useful, in fact, expensive and restrictive.
Its price varies between 0.16% and 0.90% of the amount of the loan, and is added to the overall insurance.
The compensation conditions are drastic: you must have been on a permanent contract for at least a year, lose your job following an economic layoff, the coverage is only 36 months maximum over the entire duration of the loan, the compensation is only triggered after a waiting period ...
In some cases, it is only possible to get the money from the insurer after a period of six months of unemployment.
It can quickly turn into a puzzle.
“You have to read all the conditions very carefully,” warns Astrid Cousin.
Be careful, if you change insurance, you will not be able to withdraw the job loss guarantee, you will be obliged to keep it for the duration of the loan.
You have to think twice!
"
Another guarantee that has become almost compulsory is that linked to “non-objectifiable diseases”.
Behind this curious name, hide all the new illnesses of the worker: burnout, nervous breakdown, back problems ... With the Covid-19 crisis, and the difficulties of employees in managing teleworking well, it is of importance. capital city.
“I advise my clients to take it,” says Astrid Cousin.
This comes at a cost, but we can clearly see, with the crisis, that no one is safe from faltering.
It is better to protect yourself.
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