Ok, so I can report back.
I’ve got an answer from PAX. They’re telling me:
- They guarantee at least CHF 303’686.00 on 01.12.2053
- Out of the 6768 annual payment, 5998.15 go to savings and 769.85 go to risk
- Buy-back value on 01.04.2019 is CHF 22’570
- If I cancel, they will wire the buy-back value to the new institution
To give you some context:
- I have paid 6739 in 2014, and 6768 2015 through 2018
- The above points means that I will lose 11k in the process of cancelling
- I have calculated an equivalent interest rate (assuming whole payment goes to savings, and that the payments are 6768 until the end - I know it’s not true) of 0.69%
It is this interest rate that is well above what 3a savings accounts offer nowadays that made me sign. Old me.
The interest rate is 1.25% on the accumulated capital (savings) but who needs a life insurance when I have no people depending on me.
Now, I want to reply asking them about what is the buy-back value later in the year and what is the latest date in 2019 that I can ask to cancel this policy on without incurring in any penalty. Is there anything else I should ask them in your opinion?
Also, what is your opinion on putting 25k worth of 3a (so basically all I could get today + 3k in 2019) in a PF 75 3a? And then start building my VIAC portfolio? Or you would go full VIAC?