Is death insurance compulsory?

Is death insurance compulsory?

No law indicates that subscription to death insurance is compulsory. This is a contingency provision, the subscription of which is left to the discretion of individuals, who may wish to set up a death benefit to protect their loved ones financially, if they have the means.

Death insurance attached to a mortgage is not legally compulsory, but be aware that credit institutions almost never grant the desired amount in the absence of sufficient guarantees (of which death insurance remains one of the main) .
What are the differences between death, funeral and life insurance?

Funeral insurance and life insurance are very often confused with death insurance. However, these are 3 very distinct products:

    Differences between death insurance and funeral insurance:

Funeral insurance represents capital intended exclusively for the payment of funerals (burial, cremation, coffin, VAT among other costs). The released amount is paid to the heirs of the deceased or to a funeral director who will have to respect the last wishes for the planned funeral services.

Death insurance allows access to a much larger capital in general, which can be used for the organization of the funeral, but without guarantee for the subscriber to see his last wishes respected if he has not mentioned them upstream in a will.

    Differences between life insurance and life insurance:

Life insurance is a classic savings product that does not fall under provident insurance. The subscriber builds up capital himself during his life, which he can dispose of upon retirement or even before in the event of early redemption. Life insurance is intended to compensate for the cessation of activity, therefore main income, by having a substantial capital.
What death insurance without a medical questionnaire?

The medical questionnaire is used to estimate the risk of premature death of the subscriber. Several illnesses and pathologies can thus push the insurer to increase the amount of death insurance, or even to refuse to take it out, especially if the client's age is already too advanced.

    By means of article 4.3 of the National collective agreement of maternal assistants of the private employer, French law defines these "dreaded diseases".

Thanks to the AERAS (Insure and Borrow with an Aggravated Health Risk) convention on the right to be forgotten, you can not mention cancer in two cases:

    if the illness occurred before the subscriber turned 18 and ended at least 5 years ago;
    if the disease started after 18 years but ended more than 10 years ago.

However, some insurers offer access to a provident insurance contract without filling out a medical questionnaire. This solution is obviously more expensive because the real risk is not known to the insurer and it should be preferred by people with a pathology that would be detrimental to them in the underwriting process after information through a health questionnaire. (price increase or outright refusal of cover in particular).

Insofar as your state of health may prevent you from taking out death insurance, it is very useful to request a quote via a comparator for a contract without a questionnaire and another with a questionnaire, then to choose the least expensive solution.