As explained (in French) under https://forum.mustachianpost.com/t/encore-un-pigeon-chez-generali-3a-awd/6409 I’d like to get out of a suboptimal Generali 3a contract with insurance I subscribed 20 years ago after to a meeting with an AWD/Swisslife Select. I already expect to lose 50% of what I “invested” (~60kCHF), but maybe there are better solutions to be discussed.
I was just wondering, if anybody here would have the contact information for somebody working at Generali which could help in this situation, either German or French would be fine.
Merci / Thanks / Danke!
You should have 2 options:
buyback and lose a lot, but are free to invest what is left on your terms (finpension / viac)
freeze the payments (duration of contract stays the same) where you might lose a bit less but are not able to access and invest on your terms until termination. In this case you might exclude all insurances from it too, which might help.
Generali can calculate both cases for you, just ask.
OMG this is giving me PTSD. I, too, fell into the Generali trap years ago. It wasn’t with a 3a and I didn’t lose 50%, but I did lose a nice chunk. After months of mental anguish, I overcame the sunk cost fallacy, ate the loss and cashed out everything. It was a very expensive lesson, but it drove me to the Bogglehead philosophy so I chose to consider it a net positive. Godspeed, @User42!