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Swiss taxes when cashing out life insurance

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BenutzernameMoneyland User Questions
Status Member
Registriert seit1/27/17
Beiträge2142

April 11, 2017, 11:55:32 AM

If I were to cash out my Swiss life insurance policy, would that money count as taxable income?

BenutzernameMoneyguru von moneyland.ch
OrtSchweiz
Status Expert
Registriert seit8/4/15
Beiträge4079

April 11, 2017, 2:47:30 PM

Greetings,

Permanent life insurance polcies which are paid for via fixed, regular premiums can normally be cashed out on a tax-preferred basis.

Permanent life insurance policies which are purchased with a single, lump-sum premium can be cashed out on a tax-preferred basis if the policy is taken out before the policyholder turns 66 years old and is not cashed out within the first 5 years of the insurance term. Additionally, the policy must be cashed out after the policyholder turns 60 years old.

Best regards from Moneyguru

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