he leaves his job and asks for the reimbursement of his mortgage

Having lost his job, a borrower tried to activate the job loss clause of his loan insurance, so that it takes charge of the repayment of his mortgage. Unfortunately for him, it didn’t work. Here’s why.

A customer with an outstanding mortgage asked his insurer to cover his reimbursement, on the grounds of job loss. His contract specified that in the event of dismissal, he was eligible for monthly compensation. Except that this clause only concerns economic dismissal. Which was not the case with the client: it was a amicable termination as part of a voluntary departure plan set up by the employer, explains Capital.

Seized, the mediator thus indicated that the insurance contract being a random contract, the insurer cannot guarantee a risk whose realization depends on the will of the insured. Voluntary departure depends on the will of the insured and is therefore grounds for exclusion.

Furthermore, he also indicated that the Court of Cassation has repeatedly pointed out that the termination of an employment contract for economic reasons resulting from a voluntary departure within the framework of a collective agreement or a plan to safeguard employment constituted an amicable termination of the employment contract and not a termination at the initiative of the employer.

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What does borrower insurance cover?

As part of a mortgage, you take out borrower insurance which offers you certain guarantees:

  • The dcs disability guarantee,
  • The temporary incapacity for work guarantee,
  • The job loss guarantee
  • Other guarantees that may be offered in direct relation to the object financed, such as the resale protection warranty.

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But we must not forget the waiting and deductible periods. Each insurance contract is subject to a waiting period which can last from 6 12 months. During this time, if anything happens to you, the insurance will not cover anything. In the event of a claim, you must also add the deductible period: a period of 3 to 9 months, which begins on the day of the famous disaster, during which the maturity of your credit is not covered by the insurance.

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Since June 1, customers have been able to change borrower insurance free of charge at any time and no longer just on the anniversary date.

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