I have $150k in what is termed a universal life insurance plan but it actually looks more like whole life when I look at the terms. I use this to fund neuropreservation with Alcor. For what it’s worth, this is 2 times the amount Alcor was charging for neuropreservation at the time I purchased it.
I chose a whole/universal plan since it covers me until death (or technically until I turn 120, at which point it will pay out regardless as I understand it) and I purchased it when I was near the age with the lowest premiums. I think using term life insurance is cheaper but riskier, since you might outlive the term and be too old to purchase additional life insurance at a reasonable rate when you need it, effectively canceling your ability to pay for cryonics unless you have in the intervening time managed to do financially well enough to self-fund.
I didn’t self-fund because I couldn’t at the time, and even though I expect to later be able to, life insurance offers some legal protections that makes it a nice funding vehicle (I can go bankrupt without risk of losing my life insurance or having it pay out to my creditors rather than the designated beneficiary). Even if you can self fund, unless you pay in advance, you’ll want to make sure you use a mechanism that protects the funds and makes sure they go to their intended use.
I have $150k in what is termed a universal life insurance plan but it actually looks more like whole life when I look at the terms. I use this to fund neuropreservation with Alcor. For what it’s worth, this is 2 times the amount Alcor was charging for neuropreservation at the time I purchased it.
I chose a whole/universal plan since it covers me until death (or technically until I turn 120, at which point it will pay out regardless as I understand it) and I purchased it when I was near the age with the lowest premiums. I think using term life insurance is cheaper but riskier, since you might outlive the term and be too old to purchase additional life insurance at a reasonable rate when you need it, effectively canceling your ability to pay for cryonics unless you have in the intervening time managed to do financially well enough to self-fund.
I didn’t self-fund because I couldn’t at the time, and even though I expect to later be able to, life insurance offers some legal protections that makes it a nice funding vehicle (I can go bankrupt without risk of losing my life insurance or having it pay out to my creditors rather than the designated beneficiary). Even if you can self fund, unless you pay in advance, you’ll want to make sure you use a mechanism that protects the funds and makes sure they go to their intended use.