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DeRivas and the insurance policy transfer - cryonet msg

December 24 2010 at 10:13 AM
Rick  (Login recreation)
Owner
from IP address 98.165.81.74


Response to LATER YEARS - not the same as earlier years.

 
Derivas wrote
http://www.cryonet.org/cgi-bin/dsp.cgi?msg=33128

My response.

It certainly IS transferrable... after I get the ownership of it back from Alcor which required ownership of it to process it quickly in the event of my deanimation. However... I'm not quite at that point. It's a 50K policy...

I talked with Rudi Hoffman a short time ago and he suggested cashing out of that policy (Lincoln Life -was Jefferson Pilot)... and with the $3000 or so current cash value, buy a new policy-- a 100K policy that would cover a CI + SA plan... I've never really understood the CI 28K plan that Matt referred to-- in that there is no provision for standby and transport... but with the CI + SA plan there would be...

I wrote Rudi to see why 50K doesn't cover CI 28K plan + 22K for SA standby and transport... apparently I need another 50K... which at age 53 and in my "weak economic position"... would probably not be something I'm likely to be interested in.

Max More just took over Alcor as CEO as of jan 1... so his policies may influence what I do. I originally paid $350 a year for Alcor membership but it's now $800/yr and has been jumping signifigantly every year for the past few years... I don't like that at all... over my NEXT 20 years... that would be 20K I could use for my later years... and I haven't "planned" "retirement" very well at all....

In addition to all of this... we see the recent expose via CPlatt and others about the grandfathering problem... inflation and higher tech.. .which all increase the price of cryonics over time making the 50K I bought years ago... worth less and less so that by 2057 when I'm 100... assuming I live that long... the 50K will no longer buy an Alcor washout and M22 anti-freeze. We're all scratching our heads trying to figure out why we didn't think of that.

Part of it has to do with the assumption that economy of scale would kick in which it hasn't. And probably won't. So I'm going to be "underfunded" no matter what. Even if I go with CI-- which to make it viable requires SA-- I'll need 100K... which in my case will cost me $110 a month at this point... .according to Rudi... including CI's lower membership fee.

DeRivas' idea repeats Matt's idea of going with CI but both ideas ignore that CI has no standby and transport... without CI... and even if one "moves close to CI", I'd still be "underfunded" with CI not being able to hold 28K over the next 30-50 years... my life expectency.

Cryonics might just "cost too much" in the "economic crash" we're seeing... and that'll be the end of it. At least that's the way it looks to me today.



 
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