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Old 29.06.2021, 21:34
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3rd pillar and insurance

I've read in many places that we shouldn't mix 3rd pillar and insurance. Hence, two questions:

1. Why? Is it true, that sometimes that mix could block taking out your money after you left Switzerland?

2. When VIAC is offering now "free death or disability coverage" ( https://viac.ch/en/ ) does that mean that insurance or is it totally spearate topic?
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Old 30.06.2021, 01:28
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Re: 3rd pillar and insurance

I would be interested in knowing if this free insurance could be a problem. I've heard somewhere that you cannot have multiple insurances for the same risk/case, and if you do have than things get complicated when something happens. Most likely the insurances will settle to cover you proportionally, i.e. with 2 providers both will pay you only 50% of what they were obliged to. This could be a huge problem as such free insurance may just pay peanuts and yet it will damage your good insurance.
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Old 30.06.2021, 01:32
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Re: 3rd pillar and insurance

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I've read in many places that we shouldn't mix 3rd pillar and insurance. Hence, two questions:

1. Why? Is it true, that sometimes that mix could block taking out your money after you left Switzerland?

2. When VIAC is offering now "free death or disability coverage" ( https://viac.ch/en/ ) does that mean that insurance or is it totally spearate topic?
All financial products are aimed at certain gaps in the market and entirely depends on what you are trying to achieve as to whether a particular product is suitable or not.

If you were a manual worker on a building site with little invalidity cover in your pension, having an insurance element on a 3rd pillar might make sense. Where as for an office office worker with adequate invalidity cover that would allow them to continue saving for retirement it would not.

None of these products are designed with the expat in mind.
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Old 30.06.2021, 01:35
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Re: 3rd pillar and insurance

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I would be interested in knowing if this free insurance could be a problem..
Well is definitely not free!
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Old 30.06.2021, 22:46
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Re: 3rd pillar and insurance

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Well is definitely not free!
Checking their FAQ, it's seems free. Of course there's the question if the value proposition of the 3a account is a good one or not.
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Old 01.07.2021, 16:25
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Re: 3rd pillar and insurance

Just make sure to do the math.

Choose the kind of portfolio you would like to have, do the same on finpension (which could be cheaper) and consider the difference as the premium price for the insurance. Then compare it with something similar that you could get from another insurance company.

Anyway, I think that if you need a proper life insurance, VIAC will probably not be enough.
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Old 01.07.2021, 18:04
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Re: 3rd pillar and insurance

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Checking their FAQ, it's seems free. Of course there's the question if the value proposition of the 3a account is a good one or not.
It's not free. It either reduces benefit or increases premiums.
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Old 01.07.2021, 18:17
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Re: 3rd pillar and insurance

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Checking their FAQ, it's seems free. Of course there's the question if the value proposition of the 3a account is a good one or not.
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Old 01.07.2021, 18:32
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Re: 3rd pillar and insurance

With VIAC vs Finpension Id primary consider what index you prefer investing in. The money you pay viac isn't enough for any insurance to be worth a huge amount.
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Old 01.07.2021, 18:39
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Re: 3rd pillar and insurance

viac's insurance is quite small, too small to be useful, it's just marketing to try and make people not move away to finpension. So for me, I wouldn't even account for it when comparing.
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Old 01.07.2021, 22:16
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Re: 3rd pillar and insurance

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viac's insurance is quite small, too small to be useful, it's just marketing to try and make people not move away to finpension. So for me, I wouldn't even account for it when comparing.
It's weird they don't look at their core deficiencies:

a) 3% liquidity vs 1% for finpension
b) Requirement for 40% in CHF denominated funds
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