Do you have any questions about cancellation?

Alternatives to cancellation

Do you have a problem with payment? No problem – take a premium break, reduce the savings contribution or convert your life insurance into a paid-up insurance.
Do you need money? Make a partial surrender and continue your life insurance with the reduced sum insured at the same conditions.
Or you can apply for a policy loan from your 3b policy at the attractive interest rate of 2.0% and continue your policy unchanged. This is not possible with policies of the restricted pension plan 3a.

Do you need additional security? If you pledge your life insurance policy to your mortgage bank, you will reduce the loss incurred at the time of repurchase and defer the Pillar 3a capital outpayment tax until later.

Think you don't need a third pillar anymore? Find out if this is the case – with our free retirement provision check. You can do this online or contact us by phone.

No longer entitled to Pillar 3a? Easily convert your policy into a Pillar 3b unrestricted pension plan and continue to benefit from the previous conditions.

It depends entirely on your individual situation; completely different documents may be required depending on the contract. The best thing is to give us a quick call or fill out the contact form. We will be happy to provide you with information on your options and work with you to find the best solution for you.

In principle, however, the life insurance can be canceled by sending a written order to Zürich Lebensversicherungs-Gesellschaft AG, Postfach, 8085 Zurich.

The legal grounds for canceling Pillar 3a in accordance with the BVV3 regulation, but also a possible loss on surrender, because in the first few years after taking out the policy, the acquisition and administration costs often cannot not yet be amortized with the income and surpluses.

If you would like to use the capital you have saved to finance your home ownership, we recommend that you contact us: There are often alternatives to cancellation that are more advantageous for you: Surrendering the life insurance policy can result in losses. Particularly if you are buying your own home, you can also make a partial withdrawal from Pillar 3a or pledge your policy – this allows you to retain unlimited risk protection.

If you do not explicitly indicate otherwise, the term life insurance policies will also be canceled. In most cases, however, you can keep them at the main tariff.

We recommend that you first check your situation through a free retirement provision checkup. You can do this online or contact us by phone.

Always check critically whether it makes sense to change insurance: If you cancel your contract in the first few years after signing, you may incur high losses because the signing and administration costs are incurred mainly at the beginning. The new contract will probably also incur costs again – so you would lose out twice. Also check whether your existing life insurance policy performs better than the new one. Another important thing: If you took out your policy before January 01, 2016, you will still receive a higher guaranteed technical interest rate on this policy than today.

If you are experiencing a financial bottleneck, we will be happy to help you. In such situations, you can apply for a deferral of payment, take a premium break for certain policies, arrange for a reduction of the premium or apply for a partial withdrawal, a policy loan (pillar 3b) or the paid-up conversion of your life insurance. The premium break may last up to three years. In the meantime, you have full risk cover, which is financed directly from the contract balance. At the end of the break, the contract is continued under the original conditions. Do you have any questions? Give us a call. We will be happy to assist you.

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