I’ve had Turtleneck life insurance for 2 years now. The pros are: Squarelife is a regulated life insurance company (in Liechtenstein). You can call and talk to real people, or even drop by their office. The cost is obviously hard to beat. The concept seems sound.
That said, I really can’t say that I have complete confidence in the insurance. The company doesn’t fall under Swiss consumer protection laws. Squarelife is such a small and niche company that there aren’t many (if any) real consumer experiences with filing claims out there. The “policy” is far too basic with too much room for possible litigation. The use of the terms “member” and “membership” rather than policyholder and insurance could cause one to question whether it falls under (FL) insurance laws. I spoke to them on the phone several times and recommended that they provide a policy with detailed T&Cs which customers can download and print, but as of yet there is still just the somewhat vague “membership card.”
I do expect that my beneficiaries will be able to claim the benefit BUT I don’t know if I would bet my life on it, which is kind of the idea with life insurance. I have contemplated getting basic low coverage from a solid Swiss insurer for the crucial coverage and keeping Turtleneck for the non-crucial portion of coverage.