What is Turtleneck in one sentence
Turtleneck is an annually renewable term life insurance policy issued by Squarelife Insurance AG, an insurance company headquartered in Liechtenstein and supervised by the FMA (Financial Market Authority) and in Italy also by IVASS. It covers exclusively the risk of death and pays a capital to your beneficiaries if you die during the coverage period.It is not a whole life policy, not an investment, and has no savings component. It does one thing only: it protects your loved ones if you pass away.The two variants: Instant and Classic
Turtleneck comes in two versions, designed for different needs.Turtleneck Instant - covers exclusively accidental death. The maximum insurable capital is 100,000 EUR/CHF and the premium is constant over the years. You can subscribe in one minute, with no health questionnaire.
Turtleneck Classic - covers death from any cause, meaning both accidental death and death from illness. The maximum insurable capital is 400,000 EUR/CHF and the premium varies based on age and collective claims history. It requires a brief online health questionnaire, no medical examination.
Good to knowThe difference between Instant and Classic is not "better or worse". Instant is for those who want immediate basic protection with zero bureaucracy. Classic is for those who want comprehensive coverage for any cause of death. Many clients start with Instant and then switch to Classic when they decide to increase their protection.
How the annual renewal works
The policy lasts one year and renews automatically at expiry. You do not need to do anything except make sure your payment method is still valid: if you do not cancel, the coverage continues.With Turtleneck you are not locked in. If your needs change, if you no longer need the coverage, or if you simply found something better and want to switch to another product, you can cancel at any time without paying any penalty.How long does a Turtleneck policy last
Turtleneck's renewable model is different from fixed-term policies (10, 20, 30 years) where the premium is locked but you are bound to the duration. With Turtleneck you have total flexibility. You decide how long to keep the policy and when you no longer need it you can cancel at any time, and you receive the pro-rata refund of the premium without having to wait for the renewal date.The premium refund mechanism
This is the point that sets Turtleneck apart from most life insurance policies on the market. At the end of the year, the entire portion of premiums collected from policyholders that did not need to be used to pay claims (because there were fewer than expected) is returned proportionally to the policyholders themselves. We call this mechanism the "premium cashback", which we explained in detail in a dedicated article.No medical examination
Neither Instant nor Classic requires a medical examination. For Instant, you do not even need a health questionnaire: you pay and you are covered from the policy activation date, which is the 1st day of the month following the day you subscribe.For Classic, there is an online health questionnaire with a few questions about your health. It takes 2-3 minutes to complete. If based on your answers we can insure you, you can finalize the subscription and coverage starts from the 1st activation day. If for some reason based on your answers you cannot proceed with the policy, you can always contact us at info@turtleneck.com and we will assess your case individually, communicating the outcome within a few days, sometimes even a few hours.How to subscribe
Everything happens online at www.turtleneck.com. The process is:Choose the capital - that you want to insure (from a minimum to a maximum that depends on the variant and your age at the time of subscription).
Enter your details - (name, surname, year of birth, email).
Complete the health questionnaire - (Classic only).
Choose your payment method - (direct debit, credit card or bank transfer).
Confirm - and the coverage is active from the first day of the following month.
What happens in case of a claim
If the insured person dies during the coverage, the beneficiaries named in the policy receive the insured capital. The procedure involves reporting the death to the company with the necessary documentation (death certificate, identity documents of the beneficiaries).The capital is paid directly to the beneficiaries, outside of the estate, and is therefore not subject to inheritance tax.Where Turtleneck is available
Turtleneck is active in four markets: Italy, Germany, Switzerland and Liechtenstein. The company is Squarelife Insurance AG, headquartered in Ruggell (Liechtenstein), supervised by the financial supervisory authority of Liechtenstein (FMA). The product complies with European insurance regulations.Frequently asked questions
Do I need a medical examination to get Turtleneck?
No. Neither Turtleneck Instant nor Turtleneck Classic requires a medical examination. Instant does not even require a health questionnaire. Classic requires only a brief online questionnaire that takes 2-3 minutes to complete.Can I cancel my Turtleneck policy at any time?
Yes. You can cancel at any time without penalties. You will receive a pro-rata refund of the premium for the remaining period. You do not need to wait for the renewal date.What is the difference between Turtleneck Instant and Classic?
Instant covers only accidental death, with a maximum capital of 100,000 EUR/CHF, a constant premium, and no health questionnaire. Classic covers death from any cause, with a maximum capital of 400,000 EUR/CHF, a premium that varies with age, and a brief online health questionnaire.