Be honest: does whole life insurance make sense for me?
… you wish to provide financial security for your partner and ensure that he or she can maintain their standard of living.
… you have children and want to ensure their education can be financed in the event of your death.
… you have a mortgage and wish to ensure that your survivors can continue to live in the house.
… you have your own business or a business partner who would suffer financial hardship in the event of your death.
… you have no financial obligations towards anyone or do not have to support any other persons.
… you do not have a mortgage or do not need to hedge any other financial obligations.
Which type of 3rd pillar is possible for me and how do they differ?
You can deduct your contributions from your taxable income.
Each year, you can pay a maximum of CHF 6,883 into pillar 3a. The maximum amount for self-employed persons without a pension fund is CHF 34,416.
If you are not yet making use of the maximum annual amount , it makes sense to take out whole life insurance in pillar 3a.
Taking out insurance in pillar 3b makes sense if you already make use of the maximum amount for your pension provision in pillar 3a.
However, the contributions can be deducted from your taxes as flat-rate deductions.
