There is no requirement under French law, but it may lawfully be made a condition of your mortgage. However, your bank cannot impose a choice of insurance provider on you.
I would suggest that you look at the terms of the insurance policy and see whether you can put an end to it. If so, then you should see an independent financial adviser (courtier en assurance) who can help you get a better deal.
I'm afraid you won't be able to lodge a claim against the bank for mis-selling you the product unless you can show that the choice was imposed on you. In that case, you would need to raise it with the company first and then if you are not satisfied with their response raise it by way of complaint to the insurance regulator.
I hope this answers your question. Please don't forget to click accept. Thanks in advance.
If you do decide to raise a complaint, you should first approach the French insurance products mediator: http://www.ffsa.fr/
If that does not help, you should complain to the French insurance regulator which is called the Autorité de Contrôle Prudentiel (ACP):
I hope this answers your question. I'd be grateful if you could click accept. Thanks in advance!
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