X-Message-Number: 8500
Date: Thu, 28 Aug 1997 12:20:36 +0100
From: John de Rivaz <>
Subject: Re: insurance or savings

In article: <>  
writes:
> Message #8498
> From: Thomas Donaldson <>
> Subject: Re: CryoNet #8469 - #8470
> Date: Thu, 28 Aug 1997 00:00:55 -0700 (PDT)
> I would suggest that someone wanting suspension take out a
> permanent life insurance policy for the amount required, AND a Disability 
> Insurance Policy which insures them against loss of their ability to work
> at their profession. After that it is time to start saving. Of course, if
> you keep these both in force until you actually HAVE enough to pay for
> suspension, then it's appropriate to think about paying for your
> suspension outright and
> asking for a refund of accumulated contributions from your life insurance
> company. The Disability Policy should be maintained as long as possible.

This is a point I had not considered when advising people to save and take 
the risk themselves or take term insurance. However they could still 
open a savings account themselves and then do the following:

take out a personal accident policy (very cheap and no loss of privacy)
take out a disability policy (I do not know the cost or whether there is
a requirement for medical evidence and lawyer hassle re nature of employment 
hobbies, lifestyle etc.)
take out a term policy for the expected time for saving. (for the young, 
cheap and probably few questions asked.)

maybe others would like to comment on the costs and other responsibilities 
of disability insurance. Also maybe someone could comment on the relative 
importance of these types of insurance to people taking the savings route.

Another point is inflation:

The Cryonics Institute have never put up their suspension minimums from 
their $28k, although they do not guarantee that this will always be the 
case. Changes in management may produce a very different regime over the 
lifetime of people in their 20s now joining, for example.

The other organisations have increased their minima quite substantially. 
Someone taking out a whole life policy for the minium requirement of any of 
the other organisations in 1980 would be seriously underinsured now, not to 
mention the loss of gains he could have achieved had he invested personally 
in the stock markets. 

Hindsight is of little use when discussing investments, but it is amusing to 
note that a *single year's* premiums invested in one of the PC clone 
companies such as Intel or Microsoft in the earlier of 1980 or as soon as 
stock was available would now be worth as much as the whole of the expensive 
cryonics organisation's minimum requirement. Even investment in the so 
called safe and dull pharmaceutical majors would have produced spectacular 
results.

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