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Old 12.09.2016, 10:02
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Insurance Plans Pillar 3B

Greetings! I am considering to invest in a life insurance-cum-savings plans under Pillar 3B. The intent is to use this to indirectly amortize part of my mortgage.

I am told, perhaps erroneously, that there may be tax deductions possible for such investments (canton GE) when invested under Pillar 3B. Would anyone know if there are specific tax deductions possible for insurance premiums under pillar 3B (not 3A)?

I know that contributions for insurance premiums and interest from savings accounts are eligible for some tax deductions but I could find anything to confirm this. Thanks in advance to the tax experts on this Forum!
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Old 12.09.2016, 11:04
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Re: Insurance Plans Pillar 3B

Always thought that 3B did not have any tax deductions? But happy to be corrected
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Old 12.09.2016, 21:08
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Re: Insurance Plans Pillar 3B

Please read this thread and consider carefully before choosing an insurance plan for your pillar 3. There are more examples on EF, just use the search function in the upper right corner of your screen.

3rd pillar with an insurance company
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Old 12.09.2016, 22:21
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Re: Insurance Plans Pillar 3B

Thanks much! I had seen this link but I didn't think it answered my tax question explicitly. Will study again.
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Old 14.09.2016, 23:42
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Re: Insurance Plans Pillar 3B

Update for the record and to close my own topic: Spoke with an expert at one of the big accounting/tax firms. Confirmed that indeed NO tax benefits for investments via Pillar 3B. Insurance Premiums paid through any mode are eligible for tax deduction. These are combined with Interest on Savings accounts and subject to a cap which varies by canton and in GE by martial status and number of dependent children.
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amortization, insurance, pillar 3b, premium, tax




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