Those over 65 represent the majority of the 20,000 annual deaths linked to domestic accidents. This is also the age group where policyholders rely on their life accident guarantee (GAV) for preserve their autonomy and avoid the financial dependence.
However, the ACPR’s 2024 inspections* revealed that many contracts reduce or eliminate certain guarantees after 65 years, or even 70 years. Split compensation, lowered ceilings, and exclusions linked to wear and tear of the body: a previous knee operation or skiing can justify a refusal of compensation. “ Three main reasons explain why personal accident cover loses its value after age 65, explains David Tardy, head of personal insurance at Nousassure.First, the reduction in the value of the incapacity point with age, as well as the disappearance of certain prejudices, particularly professional, linked to retirement; then, contractual reasons, with many contracts providing reduced or adapted guarantees beyond a certain age; finally, the fact that certain compensation items, such as loss of professional income, become non-existent or less significant. »
Clauses that reduce the value of your contract
The drop in value of GAV is therefore explained as much by the mechanisms of the contract as by the evolution of the situation of the insured. Vigilance is then required on the guaranteed capital decreasing after age 65, often reduced by 30 to 40% of the initial amount. Or on the disability rate that some companies push to 33%, even 50%, to give right to compensation, compared to 5% upon subscription. Or again, on the medical exclusions extended to any previous condition or limitation which can be reclassified as a non-compensable pathology. The result can be significant: for a couple having contributed twenty years at 20 euros per month, a fracture of the neck of the femur without recognition of “new” disability may not entitle them to no compensationwhile housing adaptation work can exceed 10,000 euros.
Why do insurers adopt this logic?
Insurance companies invoke the principle actuarial fairness: from a certain age, the risk of accident is almost constant but professional or economic losses disappear . “In short, after age 65, the risk of long-term compensation decreases, the guarantees may become less severe and certain risks disappear, which mechanically reduces the overall effectiveness of the system. », explains David Tardy.
But for the ACPR, this logic must not empty contracts of their economic usefulness. The authority asked insurers to better informed policyholders when they retire, and to offer them holding options or revaluation guaranteed capital.
Maintain effective coverage after age 65
However, several levers make it possible to avoid a reduction in this protection. It is thus possible to renegotiate your contract before the pivotal age, by requesting the removal of the degression clause. Also think about compare senior GAV some offers, notably from MAIF, Allianz or Groupama, maintain adapted formulas, with compensation from 5% disability. A clever combination of contracts can also be effective:In addition to this guarantee, a death or temporary death benefit contract, backed by life insurance, constitutes a good palliative in the event of a future termination of guarantee.», advises David Tardy.
Finally, don’t forget to integrate a heritage dimension to your situation by using, for example, a life insurance or by contracting a senior mortgage loanto anticipate the costs of housing development or long-term assistance. GAV responds to a real need for security, but its effectiveness depends on its adaptation with advancing age. You can treat this question as a patrimonial arbitration, in the same way as dependency, pension provision or inheritance.
