Can I cancel an insurance policy in Switzerland?

After I signed up for insurance through an agent who visited at my home, a friend told me that I can get the same insurance much cheaper from another insurance company. Can I cancel the insurance contract and get a different one?

Hi there,

Unfortunately for you, you cannot revoke the insurance contract. While Article 40a of the Swiss Code of Obligations part 5 does make allowances for the revocation of contracts signed between door-to-door salespeople and buyers, these rules specifically exclude insurance agreements. You can find these rules here.

However, some insurance companies do allow you to cancel contracts within a certain time frame after you sign up (14 days, for example). Review the contract carefully to determine whether or not this is the case.

If no allowance for revocations is provided, you have no other choice but to take out the insurance policy and opt out at the nearest termination date or the end of the insurance term.

Best regards from Moneyguru

More on this topic:
Guide to terminating a compulsory Swiss health insurance policy
Guide to terminating supplementary health insurance policies
Health insurance comparison
Life insurance comparison