Cancellation life insurance

Pause the savings component for a maximum of three years and still retain risk coverage. Your risk premium is debited directly from your contract balance (if at least CHF 5,000 is available).

Take advantage of a premium reduction

If your budget becomes smaller, you can also adjust your premium. However, if you make smaller deposits, your payout at the end of the insurance will also be reduced.

Make your insurance premium-free

In the case of a paid-up conversion, your existing savings capital continues to earn interest until the insurance expires, but without insurance coverage in the event of disability.

In principle, a partial withdrawal of at least CHF 5,000 is always possible under Pillar 3b. In pillar 3a, the partial withdrawal must be used for owner-occupied residential property or for a purchase within your occupational retirement provision.

If you decide to take out a loan on your life insurance policy, the policy remains unchanged in the background and remains invested or continues to actively earn interest. Consequently, interest incurred on the loan is payable to Zurich.

A pledge is an elegant solution, for example, when buying a home, that provides the mortgage lender with additional security.

The retirement provision check tells you how well you and your loved ones are covered in case you or your partner should experience a long period of illness, have an accident or die. Zurich offers this service free of charge.

We open a second policy in Pillar 3b and distribute the currently guaranteed maturity benefit proportionally between the two policies. There is no disadvantage for you and the conditions (interest and costs) remain unchanged.

What are the tax consequences? Withdrawing from Pillar 3a results in taxation on income.

Current life annuities are taxable as income at the time of redemption and can therefore trigger a massive tax progression.

Pillar 3b capital-forming life insurance policies that were financed with a single premium only have a tax privilege on the investment income if payout takes place after the 60th birthday and the contract has lasted at least five years for classic capital-forming and at least 10 years for unit-linked insurance policies. The policyholder must also be an insured person.

Capital-forming life insurance has what is known as a surrender value, which is not always the same as the savings deposits made. The costs of concluding and managing the policy are incurred primarily in the first few years after the policy commences. A surrender can result in high losses then.

Are you sure that you are actually sufficiently insured via your employer in case of illness, accident or death? These cases are rather rare – therefore we recommend our free retirement provision check. You can do this online or contact us by phone.

If you have pledged your policy, the pledgee must agree to any contractual adjustment or cancellation of a contract and must provide us with written confirmation.