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Reader's question
Private customers

Where do I have to enter index-­linked life insurance?

A pen lying on top of a tax return form from the Canton of Zurich.
Filling in your tax return is a challenge you face each year. Benefits scheme expert Reto Kleiner knows how index-linked life insurance has to be entered.
Where do I have to enter my index-linked life insurance in the 2016 tax return?
Asked by Alex K., Unterägeri 29.05.2017

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Reto Kleiner, Head Key Account Management Sales Force
Basel 07.06.2017

Dear Mr K.

If it is a tied pension scheme (column 3a), you can deduct the premium paid for 2016 in section 220 of your tax return, "Contributions to recognised forms of tied individual pension provision (pillar 3a)”.

If you have taken out your life insurance in the form of a flexible pension provision (pillar 3b), you can enter the premium paid in section 230 "Insurance premiums and interest on savings capital”. However, the possible deductions are limited in this case; the deductible amounts range from CHF 2,550 to CHF 9,900. What is decisive for the maximum amount allowed are any payments in the 2nd or 3rd pillar, marital status and the number of children (for more information, see the tax return guide). It is important to note that the maximum possible deductions in this section will often have already been used up by the health insurance premiums.

The existing surrender value – i.e. the sum that you would receive from your insurance company if you were to cancel your life insurance prematurely – has to be declared under the code "Assets in Switzerland and abroad on 31.12.2016” or at the end of the tax return under "Movable personal assets”, section 601 "Life insurance policies".

We wish you success filling in your tax return.
 

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