X-Message-Number: 8466
Date: Fri, 15 Aug 1997 10:31:53 +0100
From: John de Rivaz <>
Subject: Re: CryoNet #8463 - Insurance
In article: <>
writes:
> I would also suggest that cryonics groups accepting advertising from
> insurance people recognize that there *is* an implicit endorsement of
> their ability to process the application successfully, and that if nothing
> else they should do some kind of Consumer's Report analysis of success and
> failure of insurance companies/representatives and publish it next to the
> ads.
What an excellent idea - I hope that the people concerned follow it up.
Personally I think that insurance people are about on a level with lawyers
and should be avoided if at all possible. If you chose a CI suspension it
ought to be possible to build up a big enough trust fund by paying in the
cost of life insurance into a savings medium that is linked to both
technology and equities. Consider a 15% average annual growth (if you had
taken the last decade as a guideline and the fund managers had chosen wisely,
45% would have been more to the point, but this is unlikely to continue
unless we are near the technological event horizon than we though.) and the
investment of $20/week (ie $1000/yr).
Growth Rate Average = 15 %
start of
Year Capital
1 1040.00
2 2236.00
3 3611.40
4 5193.11
5 7012.08
6 9103.89
7 11509.47
8 14275.89
9 17457.28
10 21115.87
11 25323.25
12 30161.74
Bear in mind that if you start with any existing lump sum of savings and make
bigger payments in the early years, the result is achived much faster.
Also remember
* unlike life insurance, you need make no more payments once you have reached
the target, and, very importantly,
* the money goes on growing once you stop making payments.
* with life insurance, the first year and a half's premiums go in fees. With the
above scheme these years earn you interest. In fact the payment you made in
year 1 has contributed 1040 x 1.15^12 = $5,350 of the final capital sum.
* if cryonics is to succeed, there will be technological advances not in current
stock market quotations. A well managed technology based mutual fund will do
very well in a world where cryonics succeeds. If technology does badly, then
cryonics won't work either, so you will have nothing to spend your funds on.
To save anyone else saying it, you do of course run the risk of dying before the
$28k is reached. If you really must buy life insurance, then get a reducing
term policy and invest the rest.
--
*****************************************
Sincerely, * Longevity Report *
* http://www.longevb.demon.co.uk/lr.htm *
John de Rivaz * Fractal Report *
* http://www.longevb.demon.co.uk/fr.htm *
* Music I like - see homepage *
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