Loan insurance can represent up to a third of the cost of your credit. Since the Lemoine law, you can switch it whenever you wish — and the savings often run into thousands of euros.
What the Lemoine law allows
Passed on 28 February 2022, the Lemoine law introduced “in-year” cancellation: you can cancel and switch your borrower’s insurance at any time, free of charge and without waiting for the contract’s anniversary date. The measure has applied to all mortgage loans since 1 September 2022.
The condition to meet: equivalence of cover
The new contract must offer a level of cover at least equivalent to that required by your bank, as set out in the Standardised Information Sheet (FSI) provided with the loan offer. The bank then has ten working days to accept or to give reasons for its refusal; once this period has passed, the substitution takes effect as of right.
End of the health questionnaire, subject to conditions
The law removes the medical questionnaire where the insured amount does not exceed €200,000 per borrower (that is €400,000 for a couple insured on a 50/50 basis) and where the loan is repaid before the insured person turns 60. In 2026, the Financial Sector Advisory Committee (CCSF) clarified that only mortgage loans are included in this calculation — consumer and business loans are excluded from it.
How much can you save?
By replacing the bank’s group insurance with a delegated policy tailored to your profile, the saving frequently reaches several thousand euros over the life of the loan, and more still for young, non-smoking borrowers. The lever is all the more useful while rates remain high: insurance is one of the few items still genuinely open to negotiation.
- Cancellation possible at any time, free of charge, since the Lemoine law (2022).
- Condition: equivalence of cover (FSI); reply from the bank within 10 days.
- No health questionnaire if the insured amount is ≤ €200,000/borrower and repayment is before age 60.
- Savings frequently running to several thousand euros.