Banking 3a apps (VIAC, frankly, finpension, traditional bank 3a) and insurance 3a contracts (Swiss Life, Helvetia, Allianz, etc.) compete on different planes. Disclosure first: we sell insurance 3a, not banking apps. The comparison below is honest because we have nothing commercial to gain from a banking-app recommendation.
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Banking 3a apps (VIAC, frankly, finpension): low TER (0.0–0.5%), flexible contributions, market-tracking ETF allocations. Traditional bank 3a (UBS, ZKB, Raiffeisen, cantonal banks): higher TER, broader product range, in-branch service. Insurance 3a contracts (Swiss Life, Helvetia, Allianz Suisse, AXA, Zurich, Generali, Pax, Mobiliar, Vaudoise, Baloise): higher cost; add premium waiver in disability and guaranteed death benefit. The fit depends on coverage-gap analysis — see bank vs insurance.
We are an independent insurance advisory regulated under Article 45 VAG, FINMA-registered F01067278. We sell insurance 3a — life-insurance-wrapped pillar 3a contracts. We do not sell banking 3a apps (VIAC, frankly, finpension, traditional bank 3a). We earn no commission on banking-3a recommendations. The comparison below is honest because we have nothing commercial to gain from a banking-app recommendation.
Traditional bank pillar 3a sits alongside the fintech apps. Higher TER (typically 0.5–1.5%); broader product range (bond-only, fixed-deposit, balanced funds); in-branch service.
Suits households who value in-person banking relationships, who already have a primary bank relationship, or who want non-ETF allocations (bond-only 3a). For households who don't need in-branch service, the cost gap is rarely justified — fintech apps achieve the same investment exposure at lower cost.
Insurance 3a wraps the pillar-3a tax framework around a life-insurance contract. Adds premium waiver in disability + guaranteed death benefit. Higher cost; suits households with an actual coverage gap (single-earner with dependent children, self-employed without robust pillar-2 cover, existing life-insurance need).
Major Swiss life insurers offering insurance 3a wrap: Swiss Life, Helvetia, Allianz Suisse, AXA, Zurich, Generali, Pax. Smaller / mutual: Mobiliar, Vaudoise, Baloise. Each has product variants — premium waiver thresholds, death benefit structure, surrender penalties — that vary materially. We work across the market and recommend based on fit, not brand. See bank vs insurance for the architecture decision.
All three are regulated Swiss Säule-3a foundations with independent custody. The differences are real but small — the architecture decisions (banking vs insurance 3a, account count, contribution timing) move your lifetime number far more than the provider choice.
| Provider | All-in fee | Max equity | Sub-portfolios | ESG option |
|---|---|---|---|---|
| finpension | ~0.39% | 99% | 5 | Yes |
| VIAC | ~0.40–0.44% | 99% | 5 | Yes |
| frankly (ZKB) | ~0.43% | 95% | 5 | Yes |
Fee bands from the providers' published fee schedules at the time of writing — verify current rates before opening an account. All three are covered in depth in our VIAC vs frankly vs finpension comparison.
The honest answer: at the same equity share, the fintech trio's results land within a narrow band of each other — because they hold broadly similar index allocations. Your return is driven by three things you control, not by the logo on the app.
Equity share dominates: a 99%-equity strategy and a 40%-equity strategy differ by multiples over 20 years; no provider choice closes that gap. Fee drag compounds second: the ~0.4% fintech band versus ~1%+ traditional routes is roughly CHF 85,000 on a CHF 500k 20-year balance (see the cost table below). Discipline is third — contributing the full cap every January rather than December adds a year of compounding each cycle.
Published strategy returns differ year to year and by strategy composition — compare each provider's own published performance pages for the specific strategy you'd choose, not headline marketing figures. If you want the architecture checked before the provider choice, that's exactly what the review covers.
Indicative annual cost band per route, plus 5-year and 20-year cumulative cost on a representative balance. Cost compounds — a 0.5% TER advantage over 20 years on a CHF 200,000 balance is roughly CHF 20,000 of foregone capital.
Fintech 3a
No insurance overhead. ETF-allocated. Best fit when there's no specific coverage gap.
Traditional bank 3a
In-branch service, broader product range (bond-only, balanced funds). Cost rarely justified vs fintech.
Insurance 3a
Includes premium waiver in disability + guaranteed death benefit. Cost earns its keep only when there's an actual coverage gap.
How to read this: the 20-year CHF 500k row is the leverage line. The fintech-vs-insurance gap on that scale (~CHF 85,000 of foregone capital) is the cost of insurance 3a's wrap. That cost earns its keep only if you actually use the premium waiver or death benefit features. Without an actual coverage gap, the same CHF 85,000 sits in your retirement balance instead of paying for unused insurance overhead.
A typical hybrid for a household with one specific coverage gap: insurance 3a sized to cover the gap (CHF 2,000–3,000/year on a wrapped contract with the right death benefit), banking 3a takes the rest of the annual cap. Both qualify for the federal tax deduction; total contributions stay within the federal cap. Account count + provider mix is the architecture conversation.
Some of the people we've advised
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“After several bad experiences with other brokers, working with Mr. Robert Kolar was a completely different experience.”
Dragos H. · Google
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“Robert is the best person to partner with if you need to do difficult things such as relocate.”
E. Burke-Murphy · Google
★★★★★
“My session with Robert was one of the most efficient consultation sessions I'd ever had.”
Milad F. · Google
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“I was looking to change a supplementary insurance plan, and Robert guided me with professionalism and patience.”
Diana M. · Google
★★★★★
“After returning to Switzerland from abroad, Robert was a tremendous help consulting me about all the changes.”
Steven · Google
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“Highly recommend consulting Expat Savvy before making any online insurance comparisons.”
Zendaya B. · Google
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“Working with Ben was great. Very prompt and responsive. Would highly recommend to anyone.”
Michele · Google
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“Beide arbeiten Hand in Hand und haben die individuellen Anforderungen unserer Kunden immer im Blick.”
Katharina K. · Google
★★★★★
“After several bad experiences with other brokers, working with Mr. Robert Kolar was a completely different experience.”
Dragos H. · Google
★★★★★
“Robert is the best person to partner with if you need to do difficult things such as relocate.”
E. Burke-Murphy · Google
★★★★★
“My session with Robert was one of the most efficient consultation sessions I'd ever had.”
Milad F. · Google
★★★★★
“I was looking to change a supplementary insurance plan, and Robert guided me with professionalism and patience.”
Diana M. · Google
★★★★★
“After returning to Switzerland from abroad, Robert was a tremendous help consulting me about all the changes.”
Steven · Google
★★★★★
“Highly recommend consulting Expat Savvy before making any online insurance comparisons.”
Zendaya B. · Google
★★★★★
“Working with Ben was great. Very prompt and responsive. Would highly recommend to anyone.”
Michele · Google
★★★★★
“Beide arbeiten Hand in Hand und haben die individuellen Anforderungen unserer Kunden immer im Blick.”
Katharina K. · Google
★★★★★
“After several bad experiences with other brokers, working with Mr. Robert Kolar was a completely different experience.”
Dragos H. · Google
★★★★★
“Robert is the best person to partner with if you need to do difficult things such as relocate.”
E. Burke-Murphy · Google
★★★★★
“My session with Robert was one of the most efficient consultation sessions I'd ever had.”
Milad F. · Google
★★★★★
“I was looking to change a supplementary insurance plan, and Robert guided me with professionalism and patience.”
Diana M. · Google
★★★★★
“After returning to Switzerland from abroad, Robert was a tremendous help consulting me about all the changes.”
Steven · Google
★★★★★
“Highly recommend consulting Expat Savvy before making any online insurance comparisons.”
Zendaya B. · Google
Illustrated portraits — households we've advised on health, pension, and the architecture between them.
Life insurance, insurance-wrapped 3a, tax optimization · FINMA F01536402
Nicole now handles the booking flow for life-insurance and 3rd-pillar architecture reviews. The call checks whether an insurance wrapper belongs in the plan, whether banking 3a is cleaner, and which tax lever actually fits your household. Written summary within 3 working days.
Book your first Swiss insurance reviewWe've been running provider reviews since 2017. Banking 3a vs insurance 3a; VIAC vs frankly vs finpension; Swiss Life vs Helvetia vs Allianz. The recommendation is fit-driven, not commission-driven — disclosed honestly because the math says so. Free, 45 minutes, in English, with Nicole.
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