Review on the third pillar for cross-border workers Liechtenstein Life kokon value plus 3a or 3b
Type of 3rd pillar:
Unit-linked insurance (linked to investment funds). Available as 3rd pillar 3a, or 3rd pillar 3b.
For cross-border workers, with G permit, (and for the Swiss market in general), the Liechtenstein Life company offers, in our opinion, a high quality product, which can give you a lot of satisfaction if done properly, but also several headaches if the consultant/intermediary is not properly prepared or does not know the product well.
Being a third pillar linked to investment funds, and having multiple funds to choose from, the Liechtenstein Life product is well suited to prudent savers and to those looking for a more important return.
But to have a third pillar that fully satisfies you, a competent advice is essential.
But how to recognize a good advice?
Here are some points to watch out for:
1) Is the person in front of you registered to FINMA intermediaries register?
2) Does the intermediary know how to explain in detail the composition of investment funds and how its work?
3) Have you chosen the investment funds together?
4) Has it been explained to you could have a positive return, but also a negative one?
5) Was the offer made taking into consideration your current coverage of the first and second pillar?
6) Did the intermediary leave you the complete offer and time to evaluate it?
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- Great choice of investment funds to choose from, allowing you to create a tailor-made 3rd pillar.
- For contracts of 30 years or more, a rather high guarantee can be given. Attention: the guarantee is valid only AT THE END OF THE CONTRACT, therefore, if you withdraw the capital before the contractual expiry, the guarantee becomes void.
- Transparency in documentation and ease of access to information.
- Possibility of including insurance coverage in the event of disability and death.
- Ability to change the portfolio of funds 12 times a year for free.
- If you want to redeem in the first few years (i.e. withdraw the capital), the company applies important penalties.
- The release from payment of premiums in the event of incapacity for work has a minimum waiting period of 6 months (instead of the usual 3 months)
In our opinion, the third pillar offered by Liechtenstein Life is good, transparent and versatile, but your satisfaction will depend, above all, on the quality of the advice.