The Lemoine law strengthens the right to be forgotten (Photo credits: Adobe Stock – )
The Lemoine law provides for several significant advances for access to mortgage loan insurance which is intended to be “fairer, simpler and more transparent” and in particular a significant reduction in the time limit to be able to benefit from the “right to be forgotten”. Explanations.
How does the right to be forgotten work?
The right to be forgotten is one of the mechanisms contained in the AERAS convention (Insuring and Borrowing with an Aggravated Health Risk) which aims to facilitate access to borrower insurance for people who have or have had a health problem that could weigh significantly when the insurer establishes their risk profile.
Introduced in 2016, the “right to be forgotten” allows a former cancer or hepatitis C patient not to have to mention this element of his medical history when he completes the medical questionnaire of his insurance application. home loan.
He thus has the guarantee that the insurer will not apply any exclusion clause or additional premium in connection with the cancer he has had.
Until June 1, 2022, the right to be forgotten applied from 10 years of remission – that is to say from the last day of treatment and without relapse – for cancers diagnosed after age 21 years, and 5 years for so-called “paediatric” cancers, ie diagnosed before the insured is 21 years old.
For it to be applicable, the right to be forgotten must also meet other conditions:
- For a home loan concerning the purchase of a principal residence (RP), the insured portion must not exceed 320,000 euros, without taking into account bridging loans.
- Or, in the case of another type of mortgage – for a rental investment for example – the insured share of cumulative loans must not exceed 320,000 euros.
- The home loan must come to an end before the 71st birthday of the borrower.
What does the Lemoine law bring?
Having to wait a decade in remission from the last day of the therapeutic protocol was often experienced as an interminable double pain for patients who managed to overcome their cancer.
This period is now reduced to 5 years, without distinction between adult cancer and pediatric cancer. After 5 years of remission, the insured will therefore be able to carry out his real estate projects more easily by accessing borrower insurance which will not include any exclusion clause or additional premium linked to his former illness.
The Lemoine law has been applied since June 1, 2022 to all new home loan insurance contracts taken out and will take effect retroactively on borrower insurance contracts already in progress from September 1, 2022.
Stephanne Coignard ([email protected])