Initial waiting period
The initial waiting period is the period immediately following the subscription of a borrower-insurance policy during which no guarantee is active: a claim arising within this window is not covered. It protects the insurer against opportunistic subscriptions by people already aware of an imminent risk.
Key points
- Its duration typically ranges from a few weeks to several months depending on the guarantee concerned.
- Waiting periods tend to be longest for psychiatric or psychological guarantees in some contracts.
- It must not be confused with a deductible period, which applies after a recognized claim.
- Some contracts impose no waiting period on the death guarantee.
- When substituting one policy for another, the new insurer may apply a fresh waiting period.
Frequently asked questions
Why does an insurer impose an initial waiting period?
The initial waiting period is an anti-adverse-selection mechanism: it prevents a person who already knows they will file a claim (recent medical diagnosis, planned surgery) from subscribing purely to receive immediate benefits. Without this safeguard, claim costs would rise for all policyholders.
Does the waiting period apply if I switch insurers mid-loan?
This depends on the new insurer's contract. Some insurers waive the waiting period for borrowers substituting an existing policy, as the loan is already active and the risk of opportunistic claims is lower. Others maintain a waiting period even for substitutions. It is therefore essential to check this point before switching policies.
How does the waiting period differ across guarantees within the same contract?
Within the same contract, waiting periods are not uniform. The death guarantee often carries no waiting period, as this risk is difficult to manipulate. Disability guarantees may have a short waiting period (30 to 90 days), while psychiatric or back conditions may face longer ones. Borrowers should consult their contract's summary table.
In practice
Camille subscribes to a borrower-insurance policy in January with a 60-day waiting period on temporary work incapacity. In March — after the waiting period has expired — she is rushed to hospital for appendicitis. The insurance covers her loan repayments from the first day of work incapacity, after any applicable deductible period.
Official sources
- Borrower insurance: coverage and carence period · Service-Public.gouv.fr
- Borrower insurance for a mortgage · Service-Public.gouv.fr
- Law of 28 February 2022 (Lemoine Act) · Vie-publique.fr