X-Message-Number: 30999
Date: Thu, 28 Aug 2008 19:02:44 -0700 (PDT)
From: William O'Rights <>
Subject: Warning for All Cryonicists

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Warning for All Cryonicists
 

David in Message Number: 30885 Wrote, "He just did not get *his* life insurance 
in place before he came down with a terminal illness and became unable to buy 
the insurance now.”
 

David Wrote in Message-Number: 30946 "We have talked about William's mistakes in
not getting his suspension paid for when he was in better health and when he 
had the money to buy life insurance.”
 

The truth is, I never intended to get insurance, my plan was to cash this deal 
out. I did not care to correct Dave because at the time I considered the error 
de minimus. 
 

I never cared for the whole life insurance thing because your life depends on an
insurance company cutting a check, something that doesn't give me a warm fuzzy 
feeling inside as compared with having a fully funded the cash is already in the
bank fund. Dave of course is sill correct when he posts "He screwed up here.  
He knows it.  He admits it.” I did, I delayed in funding that account when the 
cash cost would have been trivial to me at the time.
 

But what position would I be in if I had decided to go with insurance? I would 
be in the same position I am now. I reviewed Mike Darwin letter about Marce 
written March 8, 2007 titled Warning for All Cryonicists. There was a relevant 
passage "Walt and Marce were confronted with spend down in the face of monthly 
nursing home bills of over $5,000. Medicare does not begin to cover these 
expenses until the patient has $2,000 or less in total assets not even enough 
for burial. Marce's and Walt's cryonics insurance policies had been cashed-out 
and used for her nursing home care.” 
 

Recently I was faced with the same situation of having to apply for MaineCare, 
the same thing as Medicare. The paperwork asks you about insurance, and it's 
something you have to liquidate before you qualify. So even if I had a policy it
would be gone today.
 

Both Marce and I demonstrate the flaw in funding through insurance. To anyone 
who dies a sudden death, not a problem, but if you have a terminal illness or 
disability or long term illness that wipes you out, your policy could get wiped 
out also. It's something that everyone who is counting on life insurance should 
carefully think about, or there will be more cryonicist who through no fault of 
their own will not make it.


I believe we need moreknowledge about this subject of insurance and the possible
shortcomings of using it as a funding method. When in doubt, check it out. The 
less knowledge we have about this subject, the more likely we are to pay 
attention to information that really doesn't matter when making decisions that 
really do.
 Live Long and Well
William C. O'Rights
The First Immortal



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