X-Message-Number: 8472
Date: Mon, 18 Aug 1997 16:05:10 +0100
From: John de Rivaz <>
Subject: Re: insurance

In article: <>  
writes:
> 
> From: The Hitman <>
> Subject: insurance
> 
> I have to agree with John de Rivaz with his idea for investing 
> insurance money instead with the cryonics company of your choice.
(rest del)

This is not what I thought I said. I said that people will have to invest in 
their own names, and only set up the cryonics trust when the sum accrued is 
enough for suspension funding.

I agree as a sensible person with what "The Hitman" suggested, but 
unfortunately this world is run by lawyers not sensible people. They have 
made it so complicated (to set up a scheme such as is proposed), that the 
members of their profession would accrue a fortune in fees to do it, and the 
process would take years, maybe even decades.

What was proposed was tantamount to the cryonics societies having their own 
life insurance company and putting the profits into research etc. This has 
been discussed at length in the magazines, even before the Internet was 
widely used, and the obstacles are insurmountable for reasons of cost.

Someone aged 27 has a very good chance of living ten to twelve years, and 
simply investing the money in his own name seems a good option. It may also 
be possible for a group of friends to get together and run the "DIY life 
insurance" scheme proposed amongst themselves, but they would not be able to
advertise publically for new members (= selling life insurance without being 
in the cartel) and it is unlikely that the group could afford to use the 
courts if there was a disagreement amongst themselves. Lawyers and tax 
accountants could also make trouble if the group did need to pay out for one 
of its members.

The biggest cause of death in this age group is personal accident, and 
policies that pay out in this event can be bought cheaply and with no 
problems with "medical evidence" etc. Such a policy could be used by someone 
saving up the capital.

-- 
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