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Secure Your Future with the Right Life Insurance
A lot can happen in life, and not everything is in our hands. But what we can influence is our provision: for our family, our home, our future. Life insurance is more than just a financial product. It's an expression of responsibility. It provides for your loved ones in the event of your death, protects your home, and at the same time helps you build long-term wealth or private retirement planning.
Especially in Switzerland, life insurance is a central component of private retirement planning. Through the so-called 3rd pillar, you can combine it with tax advantages, either fixed via Pillar 3a or flexible via Pillar 3b. Which solution is right for you depends on your life situation, your goals, and your financial planning.
At wefox, we compare policies to help you find exactly the life insurance that suits you – clearly structured, explained to you on a personalized level, it's the independent advice you need. We show you how to optimally provide for your future, how to save taxes, and how to comprehensively protect your family or your mortgage. Ready to size up your life insurance options? Get started today.
Your Guide Through This Page
What is life insurance and what is it for?
Life insurance can cover three key risks or goals:
Death benefit
Financial security for your family or partner, e.g., to cover ongoing expenses or outstanding loans.
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Wealth accumulation
Capital accumulation for retirement or larger projects – tax-advantaged or flexible, depending on the model.
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Disability
Monthly pension if you can no longer work due to illness or accident.
You can focus the insurance solely on one risk (risk protection) or combine both (savings and death benefit).
How will the Swiss Three-Pillar System help with your pension?
Retirement provision in Switzerland is based on a proven three-pillar principle designed to ensure security and financial stability in old age.
1.
Pillar
State Pension Provision
This mandatory basic provision ensures a minimum subsistence level and includes Old Age and Survivors' Insurance (AHV), Disability Insurance (IV), and Unemployment Insurance (ALV).
2.
Pillar
Occupational Pension Provision
Financed by contributions from employees and employers, the 2nd Pillar serves to maintain the current standard of living in old age. It includes, among other things, the pension fund (BVG) and the mandatory accident insurance (UVG).
3.
Pillar
Private Pension Provision
The voluntary 3rd Pillar complements the first two and enables individual pension solutions with tax advantages. It is divided into restricted pension provision (Pillar 3a) and flexible pension provision (Pillar 3b), both of which can be tailored to personal needs.
Tip: You can combine it with tax advantages through the 3rd pillar—either tied via Pillar 3a or flexible via Pillar 3b. Which solution suits you depends on your life situation, your goals, and your financial planning.
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Tax-deductible: No
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Availability: Cancel or access anytime
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Benefits: Freely selectable
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Use of capital: Freely usable (also as a supplement to 3a)
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Tax-deductible up to CHF 7,056 per year (2025)
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Locked in until 5 years before retirement
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Benefits: Legally regulated (spouse, children, parents)
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Use of capital: Home purchase, self-employment, retirement, disability
Pillar 3a or 3b – what’s the difference?
The third pillar is the most important lever for your private pension provision in Switzerland. You can take out life insurance through both models – depending on what is more important to you: tax advantages or flexibility.
Feature
Pillar 3a (restricted)
Pillar 3b (flexible)
Tax deductible
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Yes, up to CHF 7,056 per year (2025)
No
Availability
Restricted until 5 years before retirement
Cancel or access anytime
Beneficiary designation
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Legally regulated (spouse, children, parents)
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Freely selectable
Use of capital
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Home purchase, self-employment, retirement, disability
Freely usable (also as a supplement to 3a)
Tip: Many people combine both – 3a for tax advantages, 3b for additional protection or flexible saving.
Comparing types of life insurance
Term life insurance
Affordable death benefit – ideal for family or loan protection
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Endowment Life insurance
Combination of protection & savings – capital payout at contract end
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Pillar 3a life insurance
Tied pension plan with tax benefits – limited accessibility
Pillar 3b life insurance
Flexible pension solution with free choice of beneficiaries & capital access
Disability income insurance
Monthly pension in case of health-related inability to work
What is covered?
Death coverage
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Payment of an agreed amount to your beneficiaries in the event of death
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Protection for your partner, family, or loan obligations
Savings component
(in mixed life insurance)
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Capital accumulation over the contract term
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Payout at the end of the contract or early in certain cases (Pillar 3a)
Disability pension
(optional)
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Monthly pension in case of illness or accident
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Safeguards your livelihood in the event of income loss
Disability lump-sum
(optional)
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One-time payment in case of permanent disability
Tax advantages (Pillar 3a)
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Reduction of your taxable income
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Favorable taxation upon payout (separate, reduced rate)
Who is life insurance suitable for?
Families & Parents
Protection in case of death – to ensure children and partners are financially secure
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Homeowners
Secure the mortgage so the home stays in the family
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Self-employed individuals
Private retirement planning & income protection in case of disability
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Young professionals
Early start = lower premiums & better health status
Unmarried couples
Use Pillar 3b to specifically protect your partner
Anyone with pension gaps
(e.g. part-time workers): Build capital for retirement
How much does life insurance cost?
The cost of life insurance in Switzerland varies depending on your personal needs and life situation. Whether you want to protect your family, secure your mortgage, or save for retirement, premiums are influenced by factors such as your age, health status, chosen coverage amount, and contract duration. The type of life insurance—whether term life insurance or a mixed policy with a savings component—also plays a crucial role in the price.
Find out here which factors affect the cost and what to consider when choosing your policy.
Cost factors
Type of insurance
Whether it's a pure term life policy (death benefit only) or an endowment policy (includes a savings component) – this has the biggest impact on premium costs. Endowment models are more expensive but also provide a payout if you survive the term.
Cost factors
Insured sum
The higher the insured amount in case of death, the higher the monthly premiums. The coverage should match your income and family situation.
Cost factors
Age and health condition
Those who start young and healthy pay significantly less. With age or pre-existing conditions, the risk – and therefore the premium – increases.
Cost factors
Policy term
A longer term results in higher total costs overall but often lowers the annual premium. Short terms are usually more expensive per year.
Cost factors
Smoker status
Smokers typically pay considerably more due to higher health risks. Many providers clearly differentiate between smoker and non-smoker rates.
Cost factors
Additional coverage
Add-ons such as disability cover, premium waiver in case of inability to work, or accidental death benefit increase the premium but offer broader protection.
Cost factors
Payment frequency
Paying annually instead of monthly often comes with discounts or lower administrative fees. It’s worth checking the fine print here as well.
The cost of life insurance in Switzerland is as unique as your life itself. It depends on numerous factors. That’s why it’s especially important to understand your own needs and carefully compare different offers. With a well-tailored life insurance policy, you not only protect your loved ones but also create long-term financial stability. An independent comparison and personal advice will help you make a decision that truly fits you—both today and for the future.
Why wefox? Advantages in switching life insurance with us
Independent comparison
Compare life insurance policies from leading Swiss insurers
Personal Consultation
Online, by phone, or in person
Free Switching Service
Also for existing life insurance policies
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Transparent Presentation of Your Options
With or without a savings component
Analysis of Your Retirement Situation
Tailored coverage – perfectly suited to your life circumstances.
With wefox, you don’t just find any life insurance — you find the one that fits you perfectly. Compare, structure and switch your life insurance policy with the help of a qualified and independent advisor.
FAQs about life insurance
The earlier, the better — thanks to lower premiums and better health conditions.
For mixed policies, a surrender value is paid out. We’ll show you whether it’s worthwhile — or if there are alternatives.
In Pillar 3a: spouse, children, parents (legally regulated).
In Pillar 3b: you decide the beneficiary yourself.It varies depending on age, insured amount, term, and health condition. We compare offers for you.
Start planning — with a life insurance comparison you can trust
Want to protect your family, save for retirement, or secure your mortgage? Now is the right time. Get free advice from wefox on your life insurance policy — personal, independent, and with one clear goal: the best solution for your life.