I will likely be transferred ownership of a permanent life insurance policy (I am the insured person) in another country. Upon quick inspection it looks like it has been a not-so-great deal so far. These types of policies are very difficult to evaluate and compare as the portion of the cost that goes into the insurance side and the portion that goes into the investment side (and the portion that pays ongoing fees) is not transparent.
I am planning to cash this policy out and invest the proceeds elsewhere. What do I need to know tax-wise? My inkling is that this is a capital gain and thus non-taxable in Switzerland (irrespective of the policy being domiciled here or elsewhere).