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How do I find the best life insurance?

How do I find the best life insurance

How do I find the best life insurance?

The range of life insurance policies is large and therefore very confusing. It is difficult for a layperson to find the really best offer here!  Therefore, consult the following tips when you want to find the best life insurance.

How do I find the best life insurance

Check your financial position

You should be aware that you have to pay life insurance premiums not only now, but in ten, twenty or thirty years. Think about how much money you have available each month and what amount you can realistically do without. You should avoid contracts with a payment obligation! It is better to have insurance companies that allow you to take a break from paying in and leave your premiums on hold.

Note the duration

A life insurance contract is long-term. If for whatever reason you want to get out of this contract before the term ends, you will lose a lot of money. So be careful with life insurance policies that are taken out over a very long period of time.

Compare different variants

Some providers advertise with high tax advantages, others with very good returns. It remains to be seen what is ultimately true. Consider the alternatives: You can also save taxes by opening a 3a account with the bank. There it is also possible to invest money in securities. You have chosen the cheaper option and do not even have to pay a fixed annual amount.

However, if you need to secure someone financially, if something should happen to you, life insurance is a good and inexpensive choice. Think about whether you need pure risk insurance or whether a pension should be included if you are unable to work. Risk life insurance is more flexible than mixed life insurance for capital formation and to cover death.

Don't be pushed

The financial advisor often wants to go home with a signed contract in his pocket. Do not let yourself be pushed to take out life insurance, but always ask for time. You should sleep at least one night on the offer! After all, you commit yourself to the contract in the long term, from which you can only get out with financial losses.

Get a second opinion

It is always good to know different views. It is therefore best to get a second opinion from an independent financial advisor that can be used for comparison.

Do not pass on any data

Insurance advisors often ask for the addresses of your friends and colleagues. Do not pass them on! The data transfer has nothing to do with your contract. In such a case, it is better to contact another consultant.

Conclusion: How to find the best contract

The best life insurance contract for you can only be found after a precise comparison. The offers are too different, the conditions of the providers too different. Do not be forced to rush to sign the insurance contract and do not pass on unnecessary data. Ask for time to think and look above all for the price-performance ratio and not just for the premiums. 

You can Find the best life insurance nowby doing our comparison!

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For whom is life insurance useful?

For whom does life insurance make sense?

For whom is life insurance useful?

Whether or not life insurance makes sense can only be decided individually and depends on personal life circumstances. However, the following questions can help you assess the usefulness of life insurance.

For whom does life insurance make sense?

Would you like to be able to maintain the usual standard of living in old age?

The expected benefits from statutory and occupational pensions will continue to decrease, so that the pension is no longer really secured. Today, experts assume that only around 60 percent of today's income can be expected as a pension benefit in the future. The trend is even decreasing, so you can roughly assume that you will have to make do with about half of your current income in old age. On the other hand, there is the need, which is between 70 and 80 percent of income. Mixed life insurance can help close this gap.

Would you like to be insured in the event of disability?

Do you have a family that draws capital from home ownership funds? Then you should know that pension funds can severely limit benefits if there is a coverage gap due to death or disability benefits. Survivors or you yourself can be severely disadvantaged. The risk life insurance provides for this case.

Would you like to make private provision for old age?

The contributions to the pension funds are often cut sharply if employed people only work part-time or are unemployed for some time. You may have filled this time well with childcare, but contributions to occupational pensions are still missing. Life insurance can close such a gap through the third pillar of old-age provision.

Do you live in concubinage?

Anyone living together in a cohabitation cannot count as a survivor on the right to pension benefits from the deceased person's AHV. There is also no pension from the second pillar. Life insurance secures the partner in the cohabitation and is particularly recommended if there is a common home or children.

Do you own a home?

Life insurance is a very good way to pay off a mortgage. In addition, there are attractive tax advantages, because interest on debt and the annual premium can be deducted from the annual taxable income. The pillar 3a credit is pledged to the lender. In the event of incapacity to work, savings capital can be guaranteed, even if there is an exemption from the premiums.

Are you servicing an ongoing loan?

Life insurance can secure the loan or mortgage so that the bereaved do not have to accept a financial loss in addition to the personal one. The loan can be redeemed through life insurance by paying out an agreed amount of capital in the event of death.

Do you work independently?

Mixed life insurance is your way to provide for old age. It is therefore a replacement for the otherwise usual occupational pension scheme through the pension fund.

Conclusion: do I need life insurance?

If you answer any of the above questions with? Yes? have answered, it makes sense for you to take out life insurance. Receive different offers and compare the conditions exactly. Pay attention to possible restrictions in performance and the mentioned exclusions.
You can now do the best life insurance in Switzerland by comparing the providers and not just looking at the premiums!

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What is life insurance?

What is life insurance

What is life insurance?

Life insurance is one way of providing for an emergency. There are various options for the policyholder and he can choose, for example, between capital-forming and term life insurance.

What is life insurance

These life insurance policies exist

The following types of life insurance must be taken out in Switzerland:

    • Risk life insurance with death insurance

      This type of life insurance pays a fixed benefit if the policyholder dies within the agreed term. The benefit is paid in cash and serves to protect the surviving dependents. The amount of the insurance amount can be freely determined. An extension to cover disability is possible.
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    • Risk life insurance with disability

      The benefits that are provided as part of accident insurance or from occupational pension schemes for disability are often inadequate. Private life insurance can supplement these benefits and is paid in the event of illness or accident-related incapacity for work. Protection against death can also be included.
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    • Mixed life insurance

      Death and incapacity for work are covered, as are old-age provision. This means that a capital-building life insurance is integrated to build wealth. After the agreed term has expired, the policyholder will receive the saved capital plus interest and profit sharing. A minimum interest rate is guaranteed.
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    • Unit-linked life insurance

      It is a form of mixed life insurance. The savings capital is either invested in full or at least in part in investment funds. The risk to capital increases, but at the same time the opportunities for returns also increase.

Life insurance as a pension plan?

Pension provision in Switzerland is based on the three-pillar principle, whereby life insurance can be included in the third pillar. To this end, it is taken out as pure risk life insurance or as a mixed life insurance. The capital is paid out in the event of death or when the agreed insurance term is reached. In addition, the pension can be included in the event of disability. A distinction is made between two pillars:

    • Pillar 3a

      Mixed life insurance, life insurance and life annuity come into consideration as insurance products. The contributions are deductible from taxable income up to the statutory maximum, and a reduced tax rate is applied to this capital upon payment. This variant is possible for all employed persons with their main residence in Switzerland and thus for all taxable employees and the self-employed.

    • Pillar 3b

      Mixed life insurance as well as risk life insurance and life annuity are also to be insured here. The deposits are not subject to deduction and therefore there are no tax advantages. During the term, the surrender values are taxed as assets. On the other hand, the capital saved is tax-free upon payment. This variant is possible for all Swiss adults.

Conclusion on life insurance

Life insurance can perform different functions. It can be both pension provision and risk protection in the event of death. In addition, life insurance can be taken out as a mixed insurance and thus provides for death and possible disability. From a tax point of view, the different variants have advantages.

Please compare carefully before signing the life insurance contract! The providers differ very much in terms of the conditions offered. You can Find the best life insurance nowby using our comparison!

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Find life insurance

Compare all providers in Switzerland quickly and free of charge.

Compare all providers

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