X-Message-Number: 9846 Date: Tue, 2 Jun 1998 20:16:12 -0800 From: American Cryonics Society <> Subject: Prepaid Suspension Costs and "Grandfather" guarantees In a previous post I gave the reasons ACS does not offer guarantees against future suspension cost increases to members. I will make three additional points: Adverse Government Regulation Thus far, cryonics is small enough that we have been largely ignored by the regulators. But does anyone really believe we can escape regulation? If so, we will be the first "industry" that has. Is there anyone who thinks regulation won't bring with it higher costs? Maybe double? (By the way, today I had the first opportunity I can recall to vote for a cryonicist on my California primary ballot. I voted for Libertarian Kennita Watson. Pretty much a vote FOR cryonics and AGAINST regulation!) Guarantees on Life Insurance ACS does not guarantee future prices, even if people pre-pay suspensions (except on a very short term basis). The actuaries for life insurance companies have a hard enough time guaranteeing that the insurance company will pay in 50 or 100 years. They assume very low interest rates, have a couple hundred years experience with such forecasting, own half the money in the world, and have a network of mutual assistance from other insurance companies. Still there are occasions of the system failing, and are a very highly regulated industry. Now WE are going to make similar guarantees given all the uncertainties we argue about daily? Guarantees through Grandfather Provisions People often misunderstand the programs of other organizations, so will those in Alcor who know this situation please correct me if I am wrong about the following? A few years ago, as part of a recruitment drive, Alcor grandfathered in its (then) present members, guaranteeing that they would not be subject to any further price increase for suspension. New people would have to pay an increased cost for suspension, the "Grandfathers" would not. I shudder to think of the possible problems ACS could have were it to gamble on such guarantees. The risks would be unacceptable. Of course, if a society grows at a leap-frog rate, then the percentage of people paying the low price would be so small that there would be little added cost to new people. I would be interested in learning the basis for Alcor making this decision. What the assumptions were? Was this a guarantee only under certain circumstances? What percentage of Alcor members are covered under this grandfather provision? Is there a similar guarantee of present suspension costs (assuming the same technology) for people enrolling now? If not, is similar grandfathering planned for the future? Is the fact of the lower price guaranteed to "Grandfathers" disclosed to new members? In hindsight, was it a good idea? Long life, Jim Yount =+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+American Cryonics Society (650)254-2001 FAX (650)967-4444 P.O. Box 1509 Cupertino, CA 95015 =+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+ Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=9846