The crooked life insurances 3a has been already extensively discussed on this forum. I think we all agree that those products are in no ways beneficial to the policy holder.
What I find concerning is that there is a legal framework to enable those products. Especially putting into perspective that we may face issues to fund pensions in a few decades, I find disturbing that we let insurer to gorge themselves on tax-deductible premiums.
What do you think would be the best way to fix the problem from a legal point of view?
My proposal would be to make the part of premiums used to finance the life insurance not tax-deductible. This would in practice force the insurers to be transparent on the split of life insurance vs retirement capital savings of the premiums.