As a mutualist bank and insurance provider committed to a fairer and collectively responsible society, Crédit Mutuel1, the third largest retail bank in France and the leading bank with benefit corporation status, announced in November 2021 that it would no longer require a health questionnaire for its members and loyal customers, demonstrating a path towards access to ownership for all, without discrimination based on health status.
Now that the health questionnaire is no longer imposed, formal medical forms, rejections, additional premiums and/or exclusions of coverage due to health status are a thing of the past. This represents real social progress in terms of access to home ownership and the sharing of risks.
Since last autumn, the members of parliament have been working on a means of generalizing this mechanism. From June 1, 2022, a certain number of future owners will no longer need to submit a medical questionnaire when taking out borrower insurance.
More relevant than ever, Crédit Mutuel’s exclusive and collectively responsible offering to its loyal customers when purchasing a main residence will still stand out in terms of meeting the new legislation: up to €500,000 insured per borrower, and subscription possible until the age of 62.
End of the medical questionnaire when purchasing a main residence:
| For all | For loyal customers of Crédit Mutuel1 |
|
| Total amount covered |
Up to €200,000 or €400,000 for a couple |
Up to €500,000 or €1,000,000 for a couple |
| Age limit for subscription |
Up to 60 at the end of the loan i.e. 40 for a loan of 20 years, 35 for a loan of 25 years |
62 at the time of subscription |
“It’s amazing to see that a decision by Crédit Mutuel to offer equal access to home ownership can now be broadened to everyone in France. By including people who are not so young, less well-off and with health issues in our mechanisms for access to home ownership we are helping to make society more inclusive and offering insurance that is more universal. June 1, 2022 will be a watershed date in the history of access to home ownership. A watershed date also in the mutualist model. It is up to us to continue creating new paths for inclusion, equality and solidarity,” says Nicolas Théry, Chairman of Crédit Mutuel.
“Thanks to the action taken by Crédit Mutuel and Assurances du Crédit Mutuel, one of France's leading insurance companies, we are strengthening our mutualist commitment for a fairer and more inclusive society in which health status and profession do not pose an obstacle to becoming a home owner. From today, everyone in France can benefit from this social innovation. Crédit Mutuel's loyal customers, meanwhile, will benefit from more favorable terms than stipulated by law when they purchase a main residence,” adds Daniel Baal, CEO of Crédit Mutuel Alliance Fédérale.
As a reminder, the exclusive offering proposed to Crédit Mutuel's loyal customers1 when acquiring their main residence applies under the following conditions:
- It is reserved for customers whose main income has been credited directly to Crédit Mutuel1 for seven years;
- An insured amount of up to €500,000 per borrower;
- The policyholder is under 62 when taking out the policy.
Reminder of past announcements:
- November 9, 2021 - Equal treatment for all in terms of health and home ownership: Crédit Mutuel is removing the need for loyal customers to complete its health questionnaire
- December 1, 2021 - Home ownership open to all: as of today, medical selection will no longer be part of our process for loyal customers of Crédit Mutuel. 91,000 customers benefiting already
- February 3, 2022 - The right to be forgotten and removal of medical selection questionnaire when purchasing a main residence: greater equality in accessing home ownership
Participating networks: Crédit Mutuel Alliance Fédérale (Centre Est Europe (Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France) and Nord Europe (Lille)), Crédit Mutuel Maine-Anjou, Basse Normandie (Laval), Crédit Mutuel Océan (La Roche-sur-Yon) and CIC.