Three amounts answer three questions
The benefit shown for death or maturity is not necessarily the current value of a policy. Premiums paid do not directly establish its value either. Geneva's tax return guide has a line for the surrender value of relevant life insurance policies. Ask your insurer for the certificate for the relevant year rather than copying a sales projection or adding up every premium you have paid.
An inventory example
Suppose a policy has a CHF 120,000 death benefit, CHF 2,400 in annual premiums and a certified year-end surrender value of CHF 19,600. Those figures are not interchangeable. For a policy within scope, the certified value is the starting point for the Geneva wealth return. The example does not calculate tax or what you would receive net if you decided to surrender the contract.
Check the type of policy
Pure risk cover and a policy with savings are not read in the same way. If the certificate shows no value, ask the insurer to confirm what that means. Check who owns the policy, the reporting date and the currency for a foreign contract. When the paperwork shows several values, ask which one belongs on the tax certificate and how to report a single premium or a change in circumstances.
Use the right year's instructions
The 2025 Geneva guide illustrates the distinction between surrender values and the premium section. For a 2026 return, use the forms and instructions for that tax year once available. Do not assume a deduction limit carries across years or cantons. Keep the certificate with your other wealth records and get written clarification if the policy is jointly held or its treatment is unclear.
Reconcile certificates from two years
If the certified amount changes between years, first ask why instead of adjusting the figure yourself. Policy values may change without matching the total of new premiums: the contract may also fund risk cover and apply its own valuation terms. Keep each certificate separately and flag any correction issued by the insurer. This is especially useful if you moved cantons, changed the contract or surrendered the policy during the year. Retain the dated transaction record if the tax authority needs to clarify what remained in force at year end.