Credits and insurance for diabetics
Home or consumer credit: Insuring for credit when you have diabetes
When you want to get a consumer or real estate loan, you need insurance against the risks of disability and death.
This covers the bank or credit institution but also the spouse in the event that repayments can no longer be made.
When you have diabetes, access to credit becomes a real obstacle course.
Diabetes is considered to be an aggravated health risk and makes it difficult to take out insurance.
There are few insurances or credits specially designed for diabetics, they are often accommodations and supports and when you have diabetes you have to be vigilant and carefully study all the offers.
Above all, we must not omit to mention this in the medical questionnaires because in the event of a glitch, the insurer will necessarily investigate and refuse care. This will also result in the loss of the property you have acquired if you or your spouse are not able to repay.
Since diabetes is considered an aggravated risk by home loan insurers, your insurance premium is likely to be higher than normal, it is called an “overpremium” and there may be exclusions in terms of guarantees.
The nature of diabetes also affects the conditions for obtaining the loan. For type 2 diabetics, the different risks and factors of diabetes will be taken into account: Obesity, cardiovascular risks... and everything related to complications related to diabetes.
The same applies to type 1 diabetes and insulin-dependent diabetes (DID) in terms of complications with particular attention to glycated hemoglobin (HbA1c). A blood sugar level that is too irregular, poorly managed... is an additional hindrance to having insurance for your loan under the best conditions.
For the type 1 diabetic it is a real “double penalty” with not only diabetes that occurs relatively early (sometimes from birth...) and the impossibility throughout his life of easy access to credit, insurance,...
Since type 2 usually occurs later, the patient has already been able to make the necessary acquisitions.
To facilitate access to credits for diabetics and other aggravated risks, the French public authorities have set up the Aeras agreement
The agreement helps to insure and borrow with an aggravated health risk. Aeras makes it easier for a person who has or has had a serious health problem such as diabetes, a cardiovascular problem... to obtain a home loan or consumer credit. This agreement allows him, without having to complete a medical questionnaire, under conditions, to obtain insurance for this type of loan.
Credit insurance for diabetics
Yes, it is possible and facilitated by the Aeras convention, with conditions to benefit from it:
If your state of health does not allow you to obtain insurance under the usual conditions, the credit institution will automatically offer you an Aeras agreement.
Provided that you are less than 71 years old at the maturity of repayment of the loan and carry out a loan of a maximum amount of 320,000€.
The loan will be granted according to your creditworthiness.
There will always be additional insurance premiums, but they should not exceed 1.4 points in addition to the overall effective borrowing rate (GER).
Signed by the public authorities, the professional federations of banking, insurance and mutuality and the associations of patients and consumers, the AERAS agreement applies to all diabetics, so do not hesitate to find out more with your banker or credit organization but also by visiting the website of the convention Aeras: www.aeras-infos.fr
A wealth of information, help in your procedures and all the contacts you will need to get your credit despite your diabetes.
AFD has also set up a partnership with Allianz, which makes it easier to access bank loans.
find more information on the site: www.afd.asso.fr/diabete-et/insurances/prets
You can also visit the site euroditas.fr
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