Date of release of credit funds related to loan insurance
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Generally, a borrower insurance is of identical duration to that of the loan subscribed. It takes effect from the release of the funds of a mortgage and ends once the loan is fully repaid.
Take out loan insurance
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When you subscribe to your borrower insurance, your insurer will ask you to indicate the date planned for the release of funds from your mortgage so that it can set the date of effectiveness of your borrower insurance contract.
Anticipate the date of release of the funds
It can sometimes happen that the release of funds is held after the forecast date. In this case, this discrepancy between the estimated date and the actual date of release of the funds forces the insured to start paying his insurance contributions too early.
Adjustment of credit insurance contributions
However, it should be noted that some insurers or brokers take into account, in a timely manner, any discrepancy between the forecast date indicated and the actual date of the release of the funds.
If you have paid your borrower insurance too early, the insurer can simply shift your coverage, ie the premiums paid before the release of the funds will be used to pay your coverage from the actual date of release. funds. So it’s a question of an adjustment of your contributions.