For some insurance companies, the profession of pharmacist is classified as a high-risk profession. If you are looking for borrower insurance to cover your home loan, be aware that solutions exist to find the best home loan insurance at the best price.
Borrower and pharmacist insurance
Borrower insurance , not legally compulsory, is imposed by banks to cover your mortgage. This insurance comes to take over if you are no longer able to repay your monthly credit payments. It covers you in the event of death, partial or total, temporary or permanent disability , but also in the event of sick leave.
As a pharmacist , you may be confronted with insurers who consider that you carry out a risky profession . As a result, you risk paying an additional premium, being penalized by exclusions of guarantees or quite simply seeing your request for borrower insurance refused.
Why is a pharmacist considered a high-risk profession?
Admittedly, the pharmacist does not exercise a risky profession at the same level as a stuntman, a roofer, a truck driver or a policeman. However, insurance companies consider that your professional causes you to face various risks every day. Handling toxic products, risk of being robbed, handling products received, mental workload, this job includes many aspects that we do not immediately think of and which impact the daily lives of pharmacists.
When taking out loan insurance as a pharmacist , you may be tempted to minimize the risk and not disclose all aspects of your profession. Know that this is an error. Indeed, when you make a false statement or it is not accurate, the insurance company can simply refuse to cover your monthly payments in the event of death, disability or temporary interruption of work. .
What questions can you be asked as a pharmacist?
Before taking out a home loan, the bank asks you to complete a health questionnaire . The purpose of this is to take stock of your current and past state of health. The bank will thus be interested in your weight and your height, ask you if you are a smoker, if you are taking treatment and if you have undergone surgery in recent years. She will also ask you if you suffer, or have suffered, from any serious illnesses.
As a pharmacist, it is not impossible that you should also complete a questionnaire dedicated to high-risk professions . Different questions could then be asked to assess the risk of non-payment of your monthly payments.
- Have you ever been off work because of your profession?
- Do you handle toxic or flammable products?
- Do you carry heavy loads?
The questions vary from one insurer to another. The answer to these will have an impact on his decision for your borrower insurance. He can :
- Offer you a classic borrower insurance contract
- Apply a surcharge
- Apply exclusions
- Refuse to cover your mortgage.
What solution if you are refused loan insurance?
Your bank’s insurance refuses to cover you because you are a pharmacist? Rest assured, other solutions are available to you. The delegation of borrower insurance allows you to choose an individual contract with the insurer of your choice. Also, you have the opportunity to find an insurance company that will agree to insure your loan. Some insurers are even specialists in high-risk professions and thus know how to offer guarantees that are adapted to you.
How to choose the best borrower insurance for a pharmacist?
With lesfurets, you can compare borrower insurance offers for a pharmacist. This solution allows you on the one hand to find an insurer who agrees to cover your loan and to offer you guarantees that correspond to your profile. On the other hand, using our comparator allows you to consider great savings, individual contracts are deemed to be less expensive than group bank contracts.