The issue isn't really that the phone stops working, it's that the apps do.

My primary reason for not jailbreaking or rooting my phone is that my banking apps detect it and fail to run.

One of those banking apps (Called BankID) is basically mandatory for living in the Sweden (Similarly in Norway & Denmark).

It's basically an identity verification system that keeps some kind of signed private key in your phone, meaning you can identify yourself for basically everything.

Without that App, the other apps that control my life (my Digital mailbox, my electric company, my phone company, my bank, even paying for things online) do not work.