- BenutzernameMoneyland User Questions
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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?
Swiss taxes when cashing out life insurance
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- BenutzernameMoneyguru von moneyland.ch
- OrtSchweiz
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- Registriert seit8/4/15
- Beiträge4002
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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