Mortgage insurance when you are a non-resident
Like any borrower in France, a non-resident must insure the loan. The bank requires death and disability cover, but you keep the right to choose your own policy, often cheaper than the bank’s. A few points deserve attention when you live abroad. Here is the essential.
General information. This is not an offer or personalised advice, and no saving is guaranteed. Yann Nachtrieb, registered insurance broker (COA) and mortgage broker (COBSP), and financial investment adviser (CIF), ORIAS no. 26009903.
What the bank requires
To grant the loan, the bank asks for cover including at least death and total and irreversible loss of autonomy, usually plus permanent disability and temporary incapacity for work. It also sets the quotité, the share of the loan insured on each borrower. These requirements are the same for a non-resident as for a resident.
What changes is that some insurers are more cautious depending on your country of residence, your job or your travel. Not all accept the same profiles, which is exactly why it pays to compare.
Your right to choose the policy
In France you are not obliged to take the bank’s insurance: this is the principle of delegation (délégation d’assurance). You can take an individual policy, often cheaper for equivalent cover, and even switch later, at any time, thanks to the Lemoine law. For a young borrower in good health, the saving over the life of the loan can be substantial.
The only rule: the policy you choose must offer cover at least equivalent to what the bank requires. That is precisely what I check and negotiate for you.
Key points for a non-resident
| Point | What to know |
|---|---|
| Required cover | Death, PTIA, often disability and incapacity |
| Choice of policy | Free (delegation), for equivalent cover |
| Switching | At any time (Lemoine law) |
| Country of residence | May affect acceptance |
General, indicative benchmarks. Terms depend on each insurer and your situation. No acceptance or saving is guaranteed.
Frequently asked questions
Must I take the bank’s insurance?
No. You can choose another insurer by delegation, as long as the cover is at least equivalent to what the bank requires. It is often cheaper, especially for a strong profile.
Is my country of residence a problem?
Not necessarily, but some insurers are more restrictive depending on the country, job or travel. Since they assess risk differently, comparing helps find one that accepts your profile.
Can I change the insurance later?
Yes. The Lemoine law lets you switch at any time, free of charge, as long as the cover stays equivalent. Useful if your situation changes or you find a better policy after signing.
The right cover, at the right price.
Book a free 45-minute call, in English. We check the required cover and compare to find a policy that accepts your profile.