X-Message-Number: 29785
From: 
Date: Sun, 26 Aug 2007 13:31:33 EDT
Subject: Small apology to cryonet, some details on life insurance 

In a message dated 8/26/2007 5:02:08 A.M. Eastern Daylight Time,  
 writes:

This is  Rudi Hoffman writing from Florida.
 
I want to provide a small, but semi-sincere apology if my posting  to David 
Stodolski yesterday was innappropriate.
 
This does not mean I back down from my observations.
 
But, it is probably not generally a good idea to use  colloquial language.  
Even if it sometimes may seem like this is the most  pithy and succinct way of 
describing a given situation or individual's  actions.
 
Flavanoid asked in his posting if and when I recommend term  insurance.
 
The answer, Flav, is that I almost invariably provide a spreadsheet  of 

coverage choices, in at least three amounts, and each of these amounts in  three
coverage types.  
These include a twenty year and thirty year  level term, as well as the most 
evolved, consumer oriented, well backed, and  guaranteed universal life 
options.  
 
And, yes, actually, Flav, about 57% of younger, healthy clients  choose to 
start with a term policy.  The carrier I generally use, BTW, is  invariably in 
the top five of the most innexpensive and cost effective rates as  measured by 
internet spreadsheet capabilities, and websites like insure.com and  
quotesmith.com.
 
However, it is important to note that the carrier is also one of  literally 
less than five companies in the world who have put IN WRITING that  they have 
NO problem with cryonics organizations as OWNERS and  beneficiaries.
 
The term rates are not only competitive with quotesmith, but  have locked in 
renewal rates, an "accelerated benefit rider" allowing  access to up to 75% of 
the face amount while alive, and UPGRADABILITY built  in.
 
Most folks know term rates increase upon renewal, but don't  understand 
exactly the EXTENT of the premium increase.  
 
I have on my desk as I write this a policy I will be delivering  this week to 
a good client.  We internet spreadsheeted the initial  application to get the 
best realistic rate for this nice guy, and wound up with  "Genworth" as the 
lowest cost vendor.  His rate will be 977 a year for ten  years.  Then, his 

rate goes to $14,578 a year for the next year!  And  15,789 the year after, and
continuing to increase.  
 
I got in the insurance business 28 years ago to show people exactly  the 

concept you referred to, Flav, called "Buy term and invest the  difference."  I
was and remain securities licensed, and have the equivalent  of two PhDs in 
financial planning, securities risk and return, and retirement  planning, and 

actuarial science.  So I think I get the question, and  share your concern about
the low return on traditional whole life  policies.
 
I replaced old fashioned "whole life" policies with this concept,  and 

understand it, and the real world application of it, I suspect, a bit better  
even 
than you do.  I have been securities licensed as well as insurance  licensed 

for 28 years, and agree that old fashioned "whole life" policies are  indeed bad
deals for the consumer, and I do not sell them. 
 
Instead, modern "universal life" policies are actually a "buy term  and 
invest the difference" concept in a single contract, with a decent and  market 

based return on the cash accumulation, and lower cost internal cost of  
insurance 
(coi) than is available to individuals.
 
So, "Flavanoid" why I have never quite understood the seeming  antipathy that 
comes across in your posts about business, life insurance sales,  making 
money, or for some strange reason apparently me personally, I think I  have 
responded to some of your more pertinent questions  adequately.
 
As an interesting point of information which you may find  satisfying, I have 
been working harder and longer this year and making about  half the income I 
have in years past, BECAUSE I have focused on the very labor  intensive field 
of cryonics life insurance.
 
Unfortunately, and as a bit of personal self-disclosure, I am  working harder 
and having less fun at it than at any time I can remember in my  career.  The 
general slowness of the economy, people's lack of  discretionary income, and 
continually and increasingly challenging underwriting  have made this year a 
bit of a hard "slog".  And, because there are those  who may be curious, even 
envious, of the fact that I have above 80% of the world  market share in 

cryonics, please know that we are just barely making a living,  and a heck of a 
way 
from getting rich.  Save your envy for folks more  successful than myself in 
2007.  
 
This post may look badly labled, because it hasn't contained much  of an 

apology, and none of this apology directed to Stodolski, who I still  maintain 
is 
unreasonably argumentative, arrogant, and condescending in much of  his 
postings.  But I probably shouldn't have called him an a**hole.  
 
The level of vitriol and mean-spiritedness on the part of a few of  our 

cryonics posters is surprising to me.  And I want to part of the  solution, not 
the 
problem.
 
 I remain ideologically committed to the ideals and potential  of cryonics. 
These would include the sanctity and worth of individual human  lives, the 

possibility that technology and education and genuinely TRYING very  hard can 
make 
us better humans, and the secular values of creating the best  world we can 
on this earth instead of an unlikely afterlife  scenario.
 
And, having just completed a wonderful  bike ride in a beautiful world, I 
reiterate my  suggestion,

"Let's be happy while we're here."

Respectfully, (and somewhat  nicer than yesterday) submitted,
 
Rudi


 
Rudi  Richard Hoffman CFP CLU ChFC

Board Member Financial Planning Association  fpafla.org
Board Member Salvation Army salvationarmy.org
Member Alcor Life  Extension Foundation alcor.org
Certified Financial Planner(TM) CFP Board of  Standards 
Member Libertarian Party libertarianparty.org
Member National  Rifle Association nra.org
Member World Transhumanist Association  http://transhumanism.org/
World's Leading Cryonics Insurance Provider  rudihoffman.com



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