{"id":8649,"date":"2020-12-12T17:47:43","date_gmt":"2020-12-12T16:47:43","guid":{"rendered":"https:\/\/www.smolio.ch\/wissen\/viac-life-basic-protection-in-the-event-of-death-or-disability-everything-you-need-to-know\/"},"modified":"2024-09-17T08:33:54","modified_gmt":"2024-09-17T06:33:54","slug":"viac-life-basic-protection-in-the-event-of-death-or-disability-everything-you-need-to-know","status":"publish","type":"post","link":"https:\/\/www.smolio.ch\/en\/wissen\/viac-life-basic-protection-in-the-event-of-death-or-disability-everything-you-need-to-know\/","title":{"rendered":"VIAC Life basic protection in the event of death or disability: everything you need to know"},"content":{"rendered":"Lesedauer<\/span> 9<\/span> Minuten<\/span><\/span>\n

VIAC Life is free insurance cover for securities savings with VIAC for pillar 3a or for vested benefits.\nBut what exactly is VIAC Life basic protection?\nWhat are the benefits of basic protection?\nShould I choose death risk or disability risk cover?\nWe asked critical questions and provide the answers and background to the new VIAC Life insurance in an exclusive interview with VIAC CEO Daniel Peter. <\/p>\n\n\n\n

\n
\n

We conducted an interview<\/a> with the founder at the launch of VIAC<\/a>.\nSince the end of October 2020, VIAC Life basic protection has also been available for all customers.\nBut what exactly is it about?\nWhat is included in VIAC insurance?\nWho is the basic cover suitable for?\nDoes it deliver what the name promises? <\/p>\n<\/div>\n\n\n\n

\n
\"VIAC<\/figure>\n<\/div>\n<\/div>\n\n

What benefits does VIAC Life include?<\/h2>\n\n

VIAC Life basic protection is free of charge.\nWith VIAC Life basic protection, our customers receive risk cover of CHF 2,500 for every CHF 10,000 of assets invested in securities, either for the risk of death or for the risk of disability.\nA customer can thus achieve a maximum of CHF 250,000 in free basic protection per product.\nPer product means that a customer can achieve basic protection of up to CHF 250,000 in both VIAC Pillar 3a and VIAC Vested Benefits.\nI realize that only a few customers achieve the necessary invested assets of CHF 1 million, but we do have such customers. <\/p>\n\n

By default, every customer is insured against the risk of disability.\nHowever, each customer can also change the risk cover against disability to the risk of death.\nIf the selected risk (death or disability of at least 70%) then occurs, they receive up to 25% in addition to the assets they have already saved. <\/p>\n\n

What do the benefits of VIAC Life look like in an example?\nIs the insurance sufficient for the customer? <\/h2>\n\n

The average pillar 3a customer in Switzerland has saved around CHF 45,000.\nLet\u2019s take a look at the example of Sandra.\nOf the CHF 45,000 in her VIAC pillar 3a, she has invested CHF 42,000 in securities.\nAccordingly, Sandra automatically benefits from insurance cover of CHF 10,000.\nIn the event of disability, this would be enough to finance a stairlift or to pay her mortgage for two years.\nIn short: No, this basic cover alone is of course not enough.\nIn addition to payments from VIAC, there will also be payments from other pension schemes if the worst comes to the worst.\nWe are currently considering whether we want to offer customers the opportunity to purchase extended cover at a reasonable price in order to provide additional protection. <\/p>\n\n

Who is VIAC Life basic protection for?<\/h2>\n\n

We think that this basic protection is particularly interesting for customers with vested benefits assets<\/a>.\nThis is because they were covered by the pension fund until they left the world of work, after which this is no longer the case.\nMany customers have neglected this, which is why we are trying to provide at least a small cushion.\nOf course, all VIAC pillar 3a customers also benefit from this additional benefit. <\/p>\n\n

How is the amount of basic cover calculated?\nWhat insurance cover is available with VIAC basic cover? <\/h2>\n\n

With basic protection, the insurance cover is calculated on the assets invested in securities in the previous month.\nFor every CHF 10,000 of assets invested in securities, you receive CHF 2,500 of basic protection cover.\nThe calculation is always one month behind, so in November, for example, you have cover based on the average assets invested in October.\nThe VIAC insurance cover may therefore be adjusted on an ongoing basis.\nFor example, if you transfer or pay in funds from pillar 3a or vested benefits or if you change your investment strategy.\nVIAC does not offer basic protection for cash.\nThis is because we still offer a small interest rate on cash despite negative interest rates.\nIn addition, the VIAC pillar 3a account is also free of charge \u2013 which is not the case with all providers. <\/p>\n\n

Which basic cover should I choose?\nWhat is the difference between VIAC Disability and VIAC Death? <\/h2>\n\n

As a VIAC customer, you are insured against disability as standard.\nIn order to receive a payout, you must have a degree of disability of 70% or more.\nThis may be the better choice for customers who do not have a family to support. <\/p>\n\n

If you have children or own your own apartment or house for your family, death cover could be the better choice for you.\nWith VIAC death cover, for example, you can ensure that the mortgage interest can be paid for a certain period of time.\nOr you can use it to pay for external childcare so that your partner can return to work. <\/p>\n\n