In light of the fall of interest rates which commenced in autumn 2008, the Commissariat aux Assurances (1) has decided to lower the maximum technical rates effective from 01 April 2009.

The new technical rates guaranteed by Swiss Life are as follows:

Contracts in EUR: 2.25%
Contracts in USD: 1.50%
Contracts in CHF: 1.00%
Contracts in GBP: 2.00%

The consequences of this decision are different according to the type of Swiss Life insurance product.

Practical details for existing contracts:

Capitalisation products (2)

Premiums cashed in from 01 April 2009 in our capitalisation products obtain the new minimum guaranteed rate until maturity of the contract or the amortisation of the slices for Colinsave. Swiss Dynamic Protection is an exception since its guaranteed technical rate is equal to 0%.
Every year a profit share could be given in addition to the minimum guaranteed rate depending on the economic situation and Swiss Life annual results.
Furthermore, the savings constituted before the modification of the technical interest rate continue to carry the old guaranteed rate(s) until maturity of the contract or the amortisation of the slices for Colinsave.

Traditional insurance products (3)

For individual insurance, this modification does not apply to existing traditional contracts because the technical rate applicable on the contract's inception remains so to the built up reserves, as well as to the future premiums stipulated in the contract until maturity of the contract.

For group insurance, the previous technical rates remain guaranteed for the built up reserves; the future premiums will obtain the new technical rate from 01 April 2009. Renewals with effective date prior to 01 April 2009 will be made applying the former technical rates, and those with effective date after 01 April 2009 will be made applying the new technical rates.


(1) Commissariat aux Assurances

The Commissariat aux Assurances is the official Luxembourg supervisory authority of the insurance industry. It has, among other things, the responsibility to issue the rules that preside fixing of the maximum technical rates that may be guaranteed by the insurance companies established in Luxembourg. These rates can be different depending on the currency used as far as they do not go beyond 60% of the government bond loan in the currency of which the contract is issued.

(2) Capitalisation products

Swiss Life capitalisation products:

Individual insurance
Prinsave (tariff 196)*
Prinsave Plus (tariff 198)
Swiss Life Pension (tariff 197)

Group insurance
Swiss Guarantee
Swiss Dynamic Protection

(3) Traditional insurance products

Swiss Life Traditional insurance products:

Individual insurance
Endowment insurance with variable premiums (tariff 111)*
Pension insurance (deferred lump sum without reinsurance) (tariff 193)*
Combined insurance (tariff 109)
Whole life insurance (tariff 130)
Whole life insurance with whole life premiums (tariff 135)*
Level term insurance (tariff 140)
Decreasing term insurance (tariff 145)
Fixed term insurance (tariff 170)*
Immediate annuity (tariff 160)
Accidental death insurance (tariff 074) and waiver of premiums in case of disability (tariff 030) and disability pension insurance (tariff 040)

Group insurance
Endowment insurance with reserve restitution
Endowment insurance without reserve restitution
Level term insurance
Survivor’s pension
Orphan’s pension
Additional accidental death and disability insurance

* Notice: this product is no longer sold.


Swiss Life
T +352 42 39 59-1