Insurance costs are a major part of your expenditure.
Some insurance costs are directly debited from your salary, such as OASDI social security. Others, like KVG healthcare are mandatory. Still others are added to the mix, such as personal liability, vehicle insurance, and household inventory, to name a few.
According to the Swiss Federal Statistics Office’s (OFS) 2015 household budget survey, a Swiss household earning CHF 9’800 gross salary per month will spend an astonishing 20% of their income on various insurances.
You may be spending more on insurance than you spend on your rent or mortgage.
Neglecting to optimise your insurances is a costly mistake.
Insurance costs in Switzerland are a significant part of your expenditure, regardless of your income level. Any wealth planning, or financial advice, which does not take insurances into account is leaving you open to serious risk, and potential financial losses. The more you have, the more you have to loose, as the saying goes...
Our experience shows that by comparing the market, explaining your coverage, and empowering you to identify exactly which options you need (and moreover, which options you do not) we can increase the quality of your coverage, whilst reducing the costs.
Source: OFS – Communiqué de Presse (N° 2017-0168-F).