3a Pillar with Generali - How to stop / Calculate

Hi Mustachians!

I currently save 60% of the maximum to Generali and 40% to VIAC as I didn’t want to put all my eggs in one basket.

Nevertheless, I read the article about the insurance bleeding and I would like to get my own calculation and your advices.

How can I get the buy back value and cost?
How can I get the retirement values with different % like in the article?
I don’t find them in my contract.

What about the “insurance” part if something happens to me versus 0 for that via VIAC?

Thank you for your help, I’m quite lost!

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If you don’t see these values in your contract, ask your insurance broker.

First check how much you or your dependents would get from pillars 1 and 2 in case of disability or death. If that’s not enough, a risk-only insurance contract may make sense.

However, I would never choose a combined risk+investment insurance contract (like you have right now). As far as I can tell, they are always expensive and never transparent.

Ideally, the risk-only insurance contract would not even be classified as pillar 3a (unless you can’t afford to max out 3a contributions in addition to the non-3a premiums).

VIAC Life is such a non-3a risk-only insurance (and as VIAC 3a customer you get a bit of insurance coverage for free). However, also a risk-only insurance with a traditional insurance company can be ok. Know what coverage you need and then compare offers.


Thank you for your answer Jay.
In the contract, I found few things:

  • For 33 years paying 4200CHF, I have a guarantee capital for death of 92,134CHF
  • I will finish the third year this year
  • The buyback value on 01.01.2023 is 3530CHF for 0.5%, 3988CHF for 6.75% and 4281CHF for 10.50%

Let imagine I take the middle one, does it mean I need to pay 3988CHF to get my money back (4200*3)? Or if I get my money back I only get 3988CHF?
Next to it there is a “transformation” table, similar but amounts are smaller. Do you know what is it used for?

I will try to get information from my broker to have details about the life capital simulation, I don’t have it.

Thank you!

I think the buyback value is what you get if you cancel, the rest is lost.
They usually use a timeline where you get “all your money back” after 10-15 years to keep you hooked, but the reality is the sooner you quit the better (opportunity cost and performance of their horrible products + fees).
I “lost” more than 10k on that stupid thing, but I guess this was the cost of my basic financial education course, still cheaper than many useless business schools ^^

That’s a pretty shitty deal, if you put the same amount in a bank account with 0% interest you’d have CHF 46’466 more! That’s CHF 1’408 per year, you can get a pure life insurance way cheaper (if you even need it, see above comments), put the money on a bank account and you’d have a higher, guaranteed balance at the end.


The first two years, I will get nothing back if I quit. As I’m 3 months away from the end of the third year, I will wait the anniversary date to at least get 4000CHF back I guess.
Thank you!

Does this mean that you have to pay another 4.2k to get 4k out?


Naaaa 350*3 to get 4000CHF, if I quit now, I get nothing.

It’s a scam. I quit the contract in year 10 and lost a shitload of money to irresponsible crooks. There was and still is no regulatory oversight of this predatory behavior. The Swiss comsumer protection agency is aware of it but has other pressing agenda items, unfortunately.


Also check out MP’s new article Termination mixed pillar 3a (and early termination fixed mortgage 10 years!) - Mustachian Post (aka Marc Pittet) #FIRE #frugalism