All these benefits come with a guarantee that your premium won’t change. The basic premium you agree to now will remain the same throughout the life of your policy.
So umm… yeah. That’s how life insurance usually works.
ETA: This is the first time I’ve heard, “life insurance doesn’t work” as an objection to cryonics.
If you don’t mind my asking, how much goes in, and how much comes out? taw’s math that no policy is going to pay out more than fifty times the annual pay-in seems like it has to be right.
Remember that a lot of people who get life insurance policies cancel them before they die, or fall on hard times and can’t pay the premiums. I’m 24 and healthy. I went the more expensive route and got whole life insurance, so my premiums are $64/month. With Alcor dues I end up spending about a grand per year on cryonics. Did I mention I picked what is basically the most expensive option? (Alcor whole body preservation with whole life insurance). You could easily cut that down to $300/year if you went with CI and term life insurance.
$64 * 12 * 50 = $38,400, which is a bit less than the policy of $200k. If that money were invested every month, it would end up being significantly more than the policy amount.
I have a policy with Kansas City Life Insurance:
So umm… yeah. That’s how life insurance usually works.
ETA: This is the first time I’ve heard, “life insurance doesn’t work” as an objection to cryonics.
If you don’t mind my asking, how much goes in, and how much comes out? taw’s math that no policy is going to pay out more than fifty times the annual pay-in seems like it has to be right.
Remember that a lot of people who get life insurance policies cancel them before they die, or fall on hard times and can’t pay the premiums. I’m 24 and healthy. I went the more expensive route and got whole life insurance, so my premiums are $64/month. With Alcor dues I end up spending about a grand per year on cryonics. Did I mention I picked what is basically the most expensive option? (Alcor whole body preservation with whole life insurance). You could easily cut that down to $300/year if you went with CI and term life insurance.
$64 * 12 * 50 = $38,400, which is a bit less than the policy of $200k. If that money were invested every month, it would end up being significantly more than the policy amount.