X-Message-Number: 3266
Date: Fri, 14 Oct 1994 08:40:36 -0400
From: 
Subject: CRYONICS financing cryostasis

Concerning Yvan Bozzonetti's posting on financing cryonics:

If I read him correctly, he suggests  that someone could buy rental real
estate with a small down payment and mortgage (or possibly even borrow the
down payment?) and use the value of the property, when the mortgage has been
paid down years later, to fund suspension; and in case of early death the
life insurance accompanying the mortgage would accomplish the same thing.

This seems to have at least one serious drawback, and probably two:

The first drawback is that you would have to be in, or go into, the real
estate business. Not everyone is successful in this, or in any other
business; and not everyone is suited for this, or for any other business. I
have been in the real estate business--when I was much younger and even more
foolish than now, and I made a living at it for a while--but I wouldn't wish
it on anyone except a few unusual people.

The second puzzle concerns the mortgage insurance. Unless mortgage insurance,
or French insurance, is somehow much cheaper than life insurance here, why
buy life insurance in this roundabout  way? If you are going to buy life
insurance, why not just do it? Or is there something I haven't understood?

More generally, there is in a majority of  cases no serious obstacle to
funding cryostasis. Young people can usually afford life insurance. Old
people usually have estates.  Middle aged people have several approaches. All
of the organizations will gradually become more flexible and imaginative in
devising options. 

In particular, the Cryonics Institute and Alcor are fairly close to becoming
strong enough, financially, to take a few reasonably small risks for the sake
of more business. This might eventually extend to allowing a bequest as the
primary funding. 

No one will presently accept bequests for PRIMARY funding, because of the
delays and risks of probate; yet there are many people who hate to spend ANY
money now but are willing to pledge anything for posthumous use. With
appropriate risk/reward ratio, this could be turned to our advantage a little
bit down the road.

Robert Ettinger
Cryonics Institute

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