Re: Life Insurance
A very short answer - take it out in the US as it'll most definitely be cheaper.
However, to get a cheaper rate in the US, you will likely need to go through underwriting (which may include a medical or a paramed part depending on how big of a death benefit we are talking about). And, in order to qualify for the cheaper rate in the US, you'll need to qualify for the preferred (which means "better health"/"better risk") class. And to qualify for this, most insurance companies require you to be a resident of the US which in your case, this is no longer true!
Of course, you could choose to lie on your insurance application and say that you are a resident of the US, but the insurance company will have a 2-year period to contest this. In addition, since you are not physically in the US, it may just be difficult to go through the entire underwriting process.
There are some other options in the US where you can get "instant" approval or something simliar, but these policies tend to be more expensive with a limited (lower) death benefit amount.
When is the next time you're going to be back in the US? Could possibly do it then.
And a general comment about Pillar 3 (regardless of whether we're talking about the insurance or the plain vanilla saving option) - be careful about putting any money in Pillar 3 as Americans!!! The "correct" thinking and tax optimization for Americans in Switzerland are often the opposite of that for people from a different country, simply b/c of the US tax liability.
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