# "Pillar 3a life insurance" stories
**URL:** https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91
**Category:** Banks, Insurances & Third Pillar
**Created:** [November 23, 2016, 8:45pm UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91 "2016-11-23T20:45:51Z")
**Posts on this page:** 20
**Page:** 12
### Author:  [@dbu](https://forum.mustachianpost.com/u/dbu)
#### Post date: [August 14, 2023, 11:04am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/232 "2023-08-14T11:04:36Z")
> [@San\_Francisco](#):
>
> Who says it’s a “guy” and not a girl? 🤔
Of course; but that was obviously not the main point of my post.
> [@San\_Francisco](#):
>
> Friend of mine works for such an insurance company as a client advisor. They get a sizeable „rebate“ for employees. I believe the employer pays something between a fifth and a third of the contributions.
So - not “the same product”. 🙂
---
### Author:  [@Guillaume\_GVA](https://forum.mustachianpost.com/u/Guillaume_GVA)
#### Post date: [August 14, 2023, 11:07am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/233 "2023-08-14T11:07:21Z")
> [@dubsta](#):
>
> Total Prämie: 7056 CHF
> Davon Risiko & Kostenanteil:1451 CHF
> Davon Sparanteil: 5605
20% is going for the risk and fees. That’s a lot (unless you unfortunately die the 1st year and your family got the payout).
How much is the lump sum in case of death/disability ?
You can make a quick simulation using [https://www.safeside.life/](https://www.safeside.life/) for a pure risk life insurance.
It will cost much less and you will keep your options regarding 3A investments.
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### Author:  [@Cortana](https://forum.mustachianpost.com/u/Cortana)
#### Post date: [August 14, 2023, 11:14am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/234 "2023-08-14T11:14:14Z")
Thanks for the link. I just tested it with 500k and Baloise costs CHF 250 per year. Pretty cheap?
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### Author:  [@Guillaume\_GVA](https://forum.mustachianpost.com/u/Guillaume_GVA)
#### Post date: [August 14, 2023, 11:17am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/235 "2023-08-14T11:17:40Z")
Depends of your age. For me, it would cost CHF 400 year for 500 KCHF with Baloise for a 25 years contract 🙂
I agree, it’s still cheap for the risk covered. It’s a cost effective solution to cover his family if the 2nd pillar isn’t enough.
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### Author:  [@Yanikuza](https://forum.mustachianpost.com/u/Yanikuza)
#### Post date: [August 14, 2023, 5:10pm UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/236 "2023-08-14T17:10:43Z")
As said by @Guillaume_GVA : you are losing a juicy piece of cake that could have a huge impact at your official retirement. And I’m sure that there is hiden fees.
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### Author:  [@dubsta](https://forum.mustachianpost.com/u/dubsta)
#### Post date: [August 15, 2023, 4:34pm UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/237 "2023-08-15T16:34:01Z")
Thanks guys. Very helpful comments. I will stick to my VIAC solution and consider a separate life insurance if needed. That probably only makes sense once I we have children.
> How much is the lump sum in case of death/disability ?
200k
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### Author:  [@ma0](https://forum.mustachianpost.com/u/ma0)
#### Post date: [August 16, 2023, 7:02am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/238 "2023-08-16T07:02:15Z")
Also note that VIAC offer a free insurance.
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### Author:  [@Guillaume\_GVA](https://forum.mustachianpost.com/u/Guillaume_GVA)
#### Post date: [August 16, 2023, 8:32am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/239 "2023-08-16T08:32:27Z")
> [@dubsta](#):
>
> 200k
The annual premium for a pure risk will be much cheaper than what you’ll pay with Helvetia.
Make yourself richer, not your financial advisor 🙂
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### Author:  [@Cortana](https://forum.mustachianpost.com/u/Cortana)
#### Post date: [August 16, 2023, 9:53am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/240 "2023-08-16T09:53:11Z")
1450 a year for 200k, crazy!
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### Author:  [@Dr.PI](https://forum.mustachianpost.com/u/Dr.PI)
#### Post date: [August 16, 2023, 10:29am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/241 "2023-08-16T10:29:43Z")
Free disability insurance and paid pure risk life insurance.
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### Author:  [@Dr.PI](https://forum.mustachianpost.com/u/Dr.PI)
#### Post date: [August 16, 2023, 10:33am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/242 "2023-08-16T10:33:40Z")
If it would be a fair fee, it would translate into probability of 0.725% to die next year. I think we are better than that.
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### Author:  [@Dr.PI](https://forum.mustachianpost.com/u/Dr.PI)
#### Post date: [August 22, 2023, 11:20am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/243 "2023-08-22T11:20:23Z")
US-based, but still lots of similarities.
> **[10 Reasons People Regret Buying Whole Life Insurance | White Coat Investor](https://www.whitecoatinvestor.com/whole-life-insurance-regrets/)**
>
> Most people regret purchasing whole life insurance. And why is that? Mostly because it is a product designed to be sold, not bought.
Again 3 replies limit!
Huh. Now it’s official
> **[Finma kritisiert Praxis beim Verkauf von Lebensversicherungen](https://www.cash.ch/news/finma-kritisiert-praxis-beim-verkauf-von-lebensversicherungen-630586)**
>
> Die Eidgenössische Finanzmarktaufsicht (Finma) kritisiert die Versicherungsbranche, wenn es um den Abschluss von Lebensversicherungen geht.
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### Author:  [@PhilMongoose](https://forum.mustachianpost.com/u/PhilMongoose)
#### Post date: [September 18, 2023, 8:53am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/244 "2023-09-18T08:53:46Z")
> [@Guillaume\_GVA](#):
>
> Depends of your age. For me, it would cost CHF 400 year for 500 KCHF with Baloise for a 25 years contract 🙂
>
> I agree, it’s still cheap for the risk covered. It’s a cost effective solution to cover his family if the 2nd pillar isn’t enough.
Is that just for the first year premium with future premia increasing in cost?
---
### Author:  [@student\_27](https://forum.mustachianpost.com/u/student_27)
#### Post date: [October 6, 2023, 9:34am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/245 "2023-10-06T09:34:40Z")
Hello guys,
I feel like i’m in a tough situation and need advice.
I entered switzerland few months ago, ang got contacted by a broker “mandated by the canton to help new arrivals.”
Not gonna lie I trusted it since I was new and how could it get my phone number and details ?
I openned a 3a Life Insurance through the broker, but I realized my mistake 2-3 months later, looking a bit around, I’ve seen that stopping to pay would just stop the 3a.
But broker contacted me back, mentioning if I was not paying the insurance company would sue me to debt collection office.
By short timing, and couldn’t find material until “deadline”, I paid and got warned that my 3a was back on track…
I realized I got fooled by this broker.
Now, I want to get rid of this broker and to cancel this 3a insurance life policy, I understood I will loose my money on it, but I’m fine with it.
But I’m a bit lost on how to proceed to cut from this broker, and how to cancel this 3a.
Which order ? I heard broker can ask for money, but that is not legit.
Thanks for your advice.
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### Author:  [@student\_27](https://forum.mustachianpost.com/u/student_27)
#### Post date: [October 6, 2023, 9:42am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/246 "2023-10-06T09:42:47Z")
(post deleted by author)
---
### Author:  [@student\_27](https://forum.mustachianpost.com/u/student_27)
#### Post date: [October 6, 2023, 9:45am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/247 "2023-10-06T09:45:46Z")
Yeah, I already warned FINMA on their portal.
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### Author:  [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)
#### Post date: [October 6, 2023, 10:13am UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/248 "2023-10-06T10:13:34Z")
> [@student\_27](#):
>
> But I’m a bit lost on how to proceed to cut from this broker, and how to cancel this 3a.
How to cancel it should be in your contract. Contact the provider.
(I would also let the provider know that the broker is super shady and lied to you, they might waive fees)
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### Author:  [@student\_27](https://forum.mustachianpost.com/u/student_27)
#### Post date: [October 6, 2023, 1:38pm UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/249 "2023-10-06T13:38:41Z")
Ok, Thank you !
I called and I can cancel the SwissLife 3a Insurance, money on it is loss ofc, but no extra fees.
I made the paper to send.
Now, it is about the broker…
What is the legal way to cancel the brokerage mandate that I had to sign at the beginning (a mandate that was never copied to me).
I cannot find an example of letter to send about the cancellation of an insurance brokerage mandate.
Thank you to anyone that can help !
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### Author:  [@San\_Francisco](https://forum.mustachianpost.com/u/San_Francisco)
#### Post date: [October 6, 2023, 3:22pm UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/250 "2023-10-06T15:22:19Z")
> [@student\_27](#):
>
> Not gonna lie I trusted it since I was new and how could it get my phone number and details ?
You can ask them to disclose where they got your details from, according to the new data protection law. (I’d do it and include a sentence in your letter).
> [@student\_27](#):
>
> I openned a 3a Life Insurance through the broker, but I realized my mistake 2-3 months later, looking a bit around, I’ve seen that stopping to pay would just stop the 3a.
> But broker contacted me back, mentioning if I was not paying the insurance company would sue me to debt collection office.
That sounds straight up criminal (Nötigung). If you have that in writing, I would report that to police (out of principle).
> [@student\_27](#):
>
> I though 3a was a legit and a state product
3a is legit - but think of it as a legal framework within which commercial providers are free to offer different products (with different fee/cost structure and, yes, brokerage/referral schemes).
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### Author:  [@student\_27](https://forum.mustachianpost.com/u/student_27)
#### Post date: [October 6, 2023, 3:48pm UTC](https://forum.mustachianpost.com/t/pillar-3a-life-insurance-stories/91/251 "2023-10-06T15:48:22Z")
Thank you for your feedback
> [@San\_Francisco](#):
>
> That sounds straight up criminal (Nötigung). If you have that in writing, I would report that to police (out of principle).
I’d like… but it was only verbal through phone call.
> [@San\_Francisco](#):
>
> You can ask them to disclose where they got your details from, according to the new data protection law. (I’d do it and include a sentence in your letter).
Interesting, I was not aware of it. I’ll mention it as soon as I get a letter.
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