Go Back   English Forum Switzerland > Help & tips > Insurance  
Thread Tools Display Modes
Old 23.09.2011, 11:45
Newbie 1st class
Join Date: Jun 2011
Location: Zurich
Posts: 26
Groaned at 0 Times in 0 Posts
Thanked 8 Times in 7 Posts
ZH2112 has made some interesting contributions
Life Insurance


My husband and I moved here from the US so he can complete his PhD. We are thinking it would be a wise decisions to purchase some sort of life insurance policy for him. We will be here for the next 3.5-4 years. Should we purchase a policy in Switzerland or can we purchase one in the States? Does anyone have any recommendations of where/how to purchase life insurance.

Thank you!
Reply With Quote
Old 06.10.2011, 18:03
jenny's Avatar
Senior Member
Join Date: Aug 2006
Location: La Tour-de-Peilz (near Vevey)
Posts: 482
Groaned at 0 Times in 0 Posts
Thanked 256 Times in 119 Posts
jenny has a reputation beyond reputejenny has a reputation beyond reputejenny has a reputation beyond reputejenny has a reputation beyond repute
Re: Life Insurance

What kind of life insurance are you looking for?

If you're looking for risk insurance only then it's pretty expensive over here. I am sure you can find something less expensive in the States.

Otherwise, if you want death benefits in the case of an accident, that tends to be ok over here and you could even get it as an add on to your health insurance.

If you'll be here for 5 years, I wouldn't recommend you taking out a "3rd pillar" policy as you'll probably be losing out in the long run.
Reply With Quote
Old 13.10.2011, 10:33
Senior Member
Join Date: Feb 2008
Location: Zürich
Posts: 498
Groaned at 2 Times in 2 Posts
Thanked 161 Times in 116 Posts
standardgirl has earned the respect of manystandardgirl has earned the respect of manystandardgirl has earned the respect of many
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.
Reply With Quote

death, life insurance, usa

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Life Insurance flavio Insurance 4 24.12.2009 11:03
Life Insurance Product straightguy24 Insurance 4 06.07.2009 11:41
Life Insurance dragontree Insurance 6 17.12.2007 15:41

All times are GMT +2. The time now is 02:44.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0