The BPCE group – Banque Populaire et Caisse d’Epargne – is integrating a new guarantee into its borrower insurance contracts. It allows parents, forced to stop work to temporarily care for their sick or disabled children, to benefit from payment of their monthly mortgage payments.
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Nearly one in five French people are caregivers and half don’t even know it, according to the Ministry of Solidarity. Whether they support their spouse or another member of their family, they devote a large part of their free time to caring for a loved one who is sick, disabled or losing their independence. An advertising campaign has even been dedicated to them since September 22, at the initiative of the government, to highlight them. It is in this context that the BPCE group – Banque Populaire et Caisse d’Epargne – has included a guarantee since September 25 “family help” in the borrower insurance contracts which accompany its clients’ real estate loans.
Designed with CNP Assurances, this protection covers up to 50% of the amount of the monthly mortgage payment – with a ceiling of 4,000 euros – over 14 months. The guarantee is renewable once, for a total of 28 monthly payments. It is aimed exclusively at parents forced to stop working to temporarily care for their sick or disabled children. “This additional coverage will be offered at no additional cost to policyholders.promises Corinne Cipière, general director of BPCE Assurances. This additional cost will be absorbed by BPCE and will provide peace of mind to our customers.”
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A commitment from insurers
Around 1,500 policyholders could benefit from the guarantee “family help” in the coming months, according to BPCE calculations. To be eligible, the parent must be forced to cease their professional activity, supported by work stoppage, to assist their child. And the latter must benefit from the daily parental presence allowance (AJPP), social assistance paid by the Family Allowance Fund (Caf). “The guarantee of the borrower contract is automatically triggered if these conditions are met”underlines BPCE.
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His initiative is not a surprise. In 2023, all insurers have committed to the Financial Sector Advisory Committee to introduce a guarantee of this type in their borrower contracts by July 2025. La Banque Postale already offers its own under identical conditions. BNP Paribas Cardif, the insurance subsidiary of the European giant BNP Paribas, has been marketing its insurance since September 2024 under the name “caregiver guarantee”. It offers 100% monthly payment coverage, with no franchise period or waiting period, but for a much shorter period of 3 months.
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