X-Message-Number: 16430
From: "Tim Freeman" <>
Date: Mon,  4 Jun 2001 21:35:47 -0700
Subject: Blank checks, wiring money, life insurance
References:  <>

>The checks are made out to CI. Only the date and amount can be filled
>in. Or if necessary only the date need to be filled in. Not really
>blank checks. One of these checks can be used to wire money to CI
>because anything through the mail can get lost. 

I see.  If you want to do this, you'd better check out the mechanics
carefully.  I've been surprised by hold periods on large checks, and
these hold periods are different for different sizes of checks and
different institutions.  I don't clearly recall the mechanics of
wiring money because I haven't done it for a few years, but I'd be
surprised if a bank would be willing to do anything when person A with
a large check in their hand allegedly from person B to person C shows
up and wants the money to be wired immediately and person B isn't

One obvious thing to do is to go to the bank and ask the teller or
manager what they would do.  Better reverify this every year or so,
since policies can change.

>The reason why I will
>not just give the money is because I may live another twenty years and
>I want the best option available for the money. 

That's reasonable.

>I think there are problems with life insurance. That is why Alcor
>pulled the plug on the UK. In any case what if you suffer clinical
>death on Friday. The state of your insurance can only be verified the
>next Monday.

In theory, what's supposed to happen is that Alcor is the beneficiary
of the policy and the life insurance company is supposed to
proactively tell them when the policy is about to go dead.  This
hasn't happened reliably, so Alcor has tried to rearrange things so
that Alcor is the owner of the life insurance policies, hoping that
this will allow Alcor to have notice when the policies go dead.  After
taking these precautions, they assume that if they haven't been told a
policy is dead, then it's in effect and they should go freeze the guy
even if it's Saturday.  Occasionally they have been stung.

Tim Freeman       
; formerly 

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