3a Pillar sole earner, life insurance?


#1

Hi I’ve come out from my mental hiatus and decided to again take a look at my finances.
Like everyone beginning in Switzerland i was attacked by a bunch of pillar3a life insurance offers.
Now looking at them they look like a not that great deal, today after reading the forum I think I will choose VIAC as my 3a and I am debating about the life insurance part as a separate contract, do I have to take it? Does any one know what are the spouse benefits in Switzerland


#2

Signing up for a life insurance in case of a young working person without significant support obligations is generally unwise, the only ones profiting from it almost certainly would be just your insurer and salesperson. You’re insured to some degree through the employer anyway. 3a-bound insurances with their typically complicated and intransparent terms are an especially dumb choice to waste some money

Does any one know what are the spouse benefits in Switzerland

Whatever your insurance contract says. If you and your spouse can’t read and comprehend it on your own, probably you should not sign it then


#3

Hi Thanks for replying,

Well at the moment I’m the sole earner for my wife and our child so that is the reason why I started thinking about life insurance. And I have decided to take 3a without life insurance (VIAC). The last part of the question maybe i phrased it in the wrong way. I wanted to know if there are any safety nets provided by the government or canton, I know there is something called widows pension and is a % of my insured salary risk in pillar2 but not sure if this is accessible immediately or after X amount of time.


#4

https://www.ahv-iv.ch/en/Home
Here you should find all information you need.
You must pick either FR,IT or DE. The english version is not the same.


#5

I will check, thx. :slight_smile:


#6

The link of ma0 is the first social safety net, provided by the federal government, that your wife can benefit.
The second safety net is through the social security provided by your employer which not only builds up a capital for your retirement but also provides a protection for widows and children.
Any life insurance you can contract within the 3a system will be only a fringe benefit in comparison to the two social benefits mentioned above.


#7

I see that makes sense + I found out there is also a lump sum if anything happens to me from my work insurance so seems I don’t need any extra insurance :slight_smile:


#8

Good for you, it took me years to figure that out!

But honestly, even if you would need a life insurance, take a simple risk policy that costs you a few Francs a month and invest your 3a in Viac. That cuts out all the cost of a (capital) insurance product that are horrendous. Any (honest) insurance broker will tell you that those 3a insurance contracts are highly paid in terms of commission for him.

Cheers
Gondolin

P.S.: Who pays the commission ? Yes, you.