Pillar 3a
3a insurance (life + 3a)
Guaranteed capital + death/disability cover.
3a insurance combines retirement savings with life cover: you save for retirement AND protect your family on death/disability. Final capital is contractually guaranteed; premiums are tax-deductible. Downside: higher fees (~1.5-2%) and lower flexibility.
Guaranteed capital
Final amount known at signing, regardless of markets.
Death/disability covered
Immediate payout to beneficiaries on hardship.
FAQ
- Bank or insurance — real difference?
- Bank = pure flexible savings. Insurance = savings + life cover, but higher fees and long lock-in.
- Can I cancel my 3a insurance?
- Yes, but with surrender penalties — early-year cash-in value is often below paid premiums.