X-Message-Number: 1528 Subject: CRYONICS Irrevocable beneficiary Date: Fri, 01 Jan 93 14:37:16 EST From: Alcor requires that Alcor is the irrevocable beneficiary of any life insurance that is used to pay for a suspension contract. I suspect the purpose of this is to protect against the following scenario: as the potential suspendee gets older, he is eventually declared mentally incompetent, and the guardian appointed by the courts decides to cancel the suspension contract. If Alcor is the irrevocable beneficiary, then they can refuse any change of beneficiary request, and in practice they will only accept changes that come from the person who signed the contract while he is still mentally competent. The net result is to prevent the agreement from falling apart when challenged by one of the possible consequences of ageing, specifically mental incompetence. Am I right here? If not, what is the purpose? At one time one could get a written promise that a change of beneficiary would be permitted under certain circumstances. Is there any reason not to get this? What are the circumstances? Will this practice continue after the change in presidents at Alcor? Tim Freeman <> CompuServe ID 71045,2267 checked occasionally. When they took the fourth amendment, I was silent because I don't deal drugs. When they took the sixth amendment, I kept quiet because I know I'm innocent. When they took the second amendment, I said nothing because I don't own a gun. Now they've come for the first amendment, and I can't say anything at all. Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=1528