Life Insurance Wrappers for Private Clients — conclusion

Conclusion

The life insurance wrapper shows how a nineteenth-century instrument of popular saving has become an instrument of cross-border wealth planning. Its legal effects depend on national law, its value on whether the policy meets the requirements of the policyholder's country of residence for recognition as insurance. The end of discretion through the automatic exchange of information has transformed the market, which now rests on transparency and on products designed for particular countries. Swiss insurers and Basel banks continue to play an important part in it, although the insurers act mainly through subsidiaries in Liechtenstein and Luxembourg.

The pension funds and investment foundations examined in the next chapter use the same actuarial techniques for a different purpose: the collective provision for old age of the employees of the Basel companies.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of August 2025.

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