X-Message-Number: 1218
Subject: CRYONICS - Life Insurance for the Terminally Ill
From:  (Edgar W. Swank)
Date: Tue, 22 Sep 92 12:04:31 PDT

In msg 1208, Thomas Donaldson asks:
 
"This is a question to Ralph Merkle re his comment that people who are
terminal can get life insurance. I would be very interested indeed to know
where to go for that purpose..."
 
I just talked to Jim Yount, the ACS insurance expert, about this.
He mentioned two possibilities. 1)Guaranteed Issue insurance: Anyone
can get this insurance, but it only refunds your premium + interest
if you die in the first two years.  2)Annuity or Single-Premium
insurance.
 
Single-premium whole life is where you pay a single (large) premium
and you buy a paid-up life insurance policy.  The premium is
calculated as a percentage of the face value or death benefit.  At the
limit, the premium will approach the death benefit the older you are
and the poorer your health.  In the limit case, you're just giving the
insurance company your money to hold for a short time.  But unlike
term insurance, if you survive you still have a paid-up policy.
 
Like other whole life policies, single-premium has a cash value which
starts out at (nearly) equal to the cash paid in and which accumulates
tax-deferred dividends based on the insurance company investments
which are usually significantly higher than insured bank deposit
interest rates.
 
Like other insurance, it's free from probate, can be made somewhat
judgement proof, etc.
 
Jim Yount is an insurance agent, and something of an expert on
cryonics insurance. I bought some Jackson National
single-premium insurance from him a few years ago. I suggest you
contact him either at the ACS office (408)734-4200 or his home
(408)996-8710.

--
 (Edgar W. Swank)
SPECTROX SYSTEMS +1.408.252.1005  Silicon Valley, Ca

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