X-Message-Number: 11440
From: 
Date: Sun, 21 Mar 1999 09:15:47 EST
Subject: safely funding suspensions

Thomas Nord writes:

>I havent found anyone who can sign me up for a life insurance in dollars, as
many of us need due to exchange rates, as long as I live outside US. If we
cant we have to oversize the amount in local value a lot and keep it up to
date, since a dollar was 50% lower in my lifetime not so long ago.

He also comments on the difficulty of making absolutely sure that greedy
relatives will not contest your arrangements and try to get the money, and
says that life insurance is more reliable in that respect than a trust.

There are at least two ways in which you can maximize safety while still
retaining the right to change your mind, if, like Mr. Nord, you have the funds
available:

1. With Cryonics Institute, if you prepay your suspension fee (as several have
done), then we already have the money and relatives can't get it and don't
have an incentive to try to interfere with the suspension. You can get the
money back (without interest) on demand on 90 days written notice, if you ever
change your mind. (You also get permanent voting status without paying voting
dues.)

2. You can buy life insurance in the form of a "participating annuity." This
means you buy paid-up life insurance, in one lump sum, with CI or other
organization as beneficiary, and if you wish the funds can be in the form of
an investment portfolio that you manage and control. If the fund grows beyond
what is needed for suspension, you can siphon off the excess from time to time
for your own use, or else designate a secondary beneficiary for the excess.
(You can also leave the excess to strengthen the organization and improve
everyone's chances.) 

Disclaimer: I am not an insurance expert, and everything said above needs to
be verified with your own agent and carrier, or your own attorney, for your
own particular policy. 

Robert Ettinger
Cryonics Institute
Immortalist Society
http://www.cryonics.org

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