I’ve been completing EOY documents, for the next tax declaration and I’ve realized that VIAC signed me up for life insurance VIAC Life FAQ - Frequently asked questions about VIAC Life. I can’t see any button to opt out.
It’s a bit puzzling. AFAIK in general you can’t have many insurances for the same event, and when you do have (by mistake, etc), the insurers will cover you proportionally in the case of an event. The problem with the VIAC insurance is that it’s laughably small compared to the BVG insurnace through employment. Are these the same and does the general no-duplication rule apply?
That is strange. I have my pillar 3 with them and they informed me that that is possible but I would have had to sign up specifically for that.
You need to find out exactly when you signed up, eg one can cancel easily insurances during the cooling-off period.
Otherwise you are unfortunately stuck with the terms of the product.
Life insurance does not cover a risk, but a certainty (not a matter of if they pay, but when). This is why upon canceling one you get some money back and therefore the policy has a ‘value’ to be put in your wealth tax, unlike eg car insurance.
It is possible to have many life insurances, they will all pay. By the way, also BVG is not life insurance, its payments in case of death is like an alternative payment since by dying early they don’t have to pay any pension.
Not all life insurance works like that. We have one that just pays a lump sum if we die but doesn’t accumulate capital. Really depends on the product.
Find it strange that you have it automatically as I got the email to choose if I wanted it or the disability coverage. Are you sure you have it?
I remember some ad emails about it but I haven’t chosen anything.