My issue is with ongoing mortgages with Credit Fonciere with compulsory life assurance attached.As usual everything is in French and none of the exclusion clauses were explained.The following clauses are in included in the terms and conditions:
"Incapacity cover ends when you retire or take early retirement irrespective of the reason, or on your 65th birthday.
"Death benefit ends on your 70th birthday,Loss of employment cover ends on your 65th birthday.
"Total irreversible loss of Autonomy and total inability to work is not covered when the insured dose not reside on French territory or is temporily living outside France.
If your mortgage continues after your 70th birthday you wouldn't be covered but would still have to pay the premiums!.
Death benefits would cease after your 70th birthday and loss of employment cover on your 65th birthday!
You say that it is in the French Civil Code that we are not obliged to continue with our mortgage payments if the management company fail to pay the rent. This is very useful to know, but can you be more precise. Here is a link to the French Civil Code (in English), which is very long and complicated - can you point out the article number which corresponds to this situation:
aS much as i am interested in your take on paying the mortgage and life assurance when you havent receieved your rent from the management company,it is the question i asked!
My question is this,If the life assurance was compulsory and exclususion clauses were not pointed out at the time of purchase was the policy missold!
I don't think you have offended anyone and it's a shame you removed you posts. Any information anyone can give is usefull to all of us caught in the leaseback trap.
English
Français
mutley40657.7794675926
Mutley,thanks for the reply!
My issue is with ongoing mortgages with Credit Fonciere with compulsory life assurance attached.As usual everything is in French and none of the exclusion clauses were explained.The following clauses are in included in the terms and conditions:
"Incapacity cover ends when you retire or take early retirement irrespective of the reason, or on your 65th birthday.
"Death benefit ends on your 70th birthday,Loss of employment cover ends on your 65th birthday.
"Total irreversible loss of Autonomy and total inability to work is not covered when the insured dose not reside on French territory or is temporily living outside France.
If your mortgage continues after your 70th birthday you wouldn't be covered but would still have to pay the premiums!.
Death benefits would cease after your 70th birthday and loss of employment cover on your 65th birthday!
Any comments welcome
john
mutley40657.7780439815
Mutley,
You say that it is in the French Civil Code that we are not obliged to continue with our mortgage payments if the management company fail to pay the rent. This is very useful to know, but can you be more precise. Here is a link to the French Civil Code (in English), which is very long and complicated - can you point out the article number which corresponds to this situation:
http://www.legifrance.gouv.fr/html/codes_traduits/code_civil _textA.htm
A quick response would be much appreciated.
Thanks in advance,
Clive
mutley40657.7775231482
mutley40657.7768171296
Mutley,I think you have misundestood my question!
aS much as i am interested in your take on paying the mortgage and life assurance when you havent receieved your rent from the management company,it is the question i asked!
My question is this,If the life assurance was compulsory and exclususion clauses were not pointed out at the time of purchase was the policy missold!
John
Jaward
I apologise for not answering your question to your satisfaction. I
apologise for any offence caused and have removed my posts from
the thread allowing somebody else to answer your question in the
detail you require.
mutley
mutley,
I don't think you have offended anyone and it's a shame you removed you posts. Any information anyone can give is usefull to all of us caught in the leaseback trap.
Mutley,
Your advice was excellent. However, it is not like you to be shy....was there another reason you took these excellent posts down?
Yes Mutley, we all appreciate the huge amount of work and research you are doing, well done.