4.1. Route 1: The Client approaches a Broker
– the Broker route
Swiss defered annuities and life insurance are often arranged
through an insurance broker who advises the policyholder, insured
person and beneficiaries. He liaises between the contractual
parties. Brokers are remunerated with a commission paid by the
insurance company. In Switzerland brokers must be licensed and
registered to carry on their business. However, the licensing
requirement only applies to sale of policies to Swiss citizens
resident in Switzerland. There is no licensing or registration
requirement to broker a policy for a non-resident, non-Swiss
national. Hence, an asset manager or other intermediary (Lawyer,
Accountant, Trust Company) can mediate a policy for international
Clients. In this case the intermediary may be entitled to the
commission normally paid to the broker. The point is often
misunderstood, non-Swiss nationals do not need a broker to set up a
Swiss or Liechteinstein insurance
