X-Message-Number: 16058 From: Date: Mon, 16 Apr 2001 23:36:59 EDT Subject: Re: Future of Insurance In a message dated 4/13/2001 5:01:02 AM Eastern Daylight Time, writes: Hello, Mark Plus and others. Rudi Hoffman here, writing from Daytona Beach, Florida, Paradise. Thought I'd put my input in regarding the following rather good question by Mark Plus: << From: "Mark Plus" <> Subject: The future of my cryonics insurance Date: Thu, 12 Apr 2001 19:23:40 -0700 Since 1990 I have been using a whole life policy from New York Life to pay for my cryonic suspension arrangements with Alcor, the current death benefit being $116,000 (including paid-up additions). I understand from talking to my insurance agent that after having paid premiums on this policy for eleven years, I can now opt to have all future premiums paid from out of the dividends of the policy. The death benefit would decline, but it would never drop below $100,000. Doing so would free up the $1200 a year that I had been spending on premiums. Would it be better to continue to pay that monthly premium so that the death benefit continues to increase, or should I instead take that money and invest it in some other way that would be beneficial towards my long-term survival, like accumulating a fund for my remote standby fees? I would welcome some suggestions. Trans-millennially yours, Mark Plus, Expansionary "Working to make death obsolescent in the 21st Century." >> Dear Mark, etc. I assume from your question that you are "grandfathered" in at $100,000 or some figure under the current $120,000 for full body suspension. So, if your suspension is indeed "Guaranteed" to be paid for from your current life insurance with no further premiums, you have some great choices. Putting further premiums into your New York Life policy will indeed increase the cash value. However, the increase will most certainly not be as substantial as it could be if you would elect to take your $1200 and consistently place it into an "IRA" or "ROTH IRA" qualified mutual fund. There are often many ways of looking at issues, as the readers of Cryonet attest. People of goodwill and intelligence can differ radically in their views. Fortunately, insurance and investments is in some ways a little more straightforward than some issues, although still far from being "opinion neutral". To give you a bit of my background/ credibility from which you may determine whether to give any credence to the above advice, you may be interested in the following. I am an independent Certified Financial Planner, with my own Financial Planning firm. I have sold and studied life insurance and investments for 24 years. I have become fairly successful by most people's standards following my own advice. I currently write more life insurance to fund cryosuspension than anyone else on the planet. Many of the fine posters and lurkers on this board are my clients and friends. (Sometimes, Steven Lacher, but not often even their wives/girlfriends sign up...but not very often!:)) Hope this helps. Rudi Hoffman Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=16058