Most people pay for cryonics with a life insurance policy, an option that would get very expensive for you if you were diagnosed with a terminal illness.
The danger to you of waiting is that you might get a disease or suffer an accident that doesn’t immediately kill you but drains your income and raises the cost to you of life insurance and so puts cryonics outside of your financial reach. You probably couldn’t count on your family to financially help you in this situation as they probably think cryonics is crazy and after you “died” wouldn’t see any benefit to actually paying for it.
If you think you would want to signup for cryonics if you got a terminal illness I would advise you to soon buy $150,000 in (extra) life insurance, which should be cheap if you are young and healthy.
If I am diagnosed with a terminal illness then I won’t be needing my retirement savings so I’d use those to pay for cryonics if I decided it was the right choice at the time.
This doesn’t work if you have (or will get) a family that is financially dependent on you or you get a financially draining illness.
In the U.S. (I think) if you are less than 65 years old the federal government requires you to spend most of your own money before its starts paying for some kinds of treatments. Even if you have health insurance you can lose it or run into its lifetime cap.
Also, you need to factor in mental illness. Getting depression might cost you your job, drain your savings and make it really expensive for you to get life insurance.
Finally, you could lose your retirement savings due to a civil lawsuit, paternity suit, divorce or criminal conviction.
I don’t currently have any dependents. If I have dependents in the future I think it would likely make more sense to ensure their financial security in case of my untimely death with term life insurance and still defer a decision on paying for cryonics.
I’m a British citizen and a permanent resident in Canada so health insurance issues are less of a concern for me than they might be for a US citizen. I have no family history of mental illness.
You can assume I will take appropriate steps to protect my assets from the threats you describe and others as I judge necessary and prudent.
Most people pay for cryonics with a life insurance policy, an option that would get very expensive for you if you were diagnosed with a terminal illness.
The danger to you of waiting is that you might get a disease or suffer an accident that doesn’t immediately kill you but drains your income and raises the cost to you of life insurance and so puts cryonics outside of your financial reach. You probably couldn’t count on your family to financially help you in this situation as they probably think cryonics is crazy and after you “died” wouldn’t see any benefit to actually paying for it.
If you think you would want to signup for cryonics if you got a terminal illness I would advise you to soon buy $150,000 in (extra) life insurance, which should be cheap if you are young and healthy.
If I am diagnosed with a terminal illness then I won’t be needing my retirement savings so I’d use those to pay for cryonics if I decided it was the right choice at the time.
This doesn’t work if you have (or will get) a family that is financially dependent on you or you get a financially draining illness.
In the U.S. (I think) if you are less than 65 years old the federal government requires you to spend most of your own money before its starts paying for some kinds of treatments. Even if you have health insurance you can lose it or run into its lifetime cap.
Also, you need to factor in mental illness. Getting depression might cost you your job, drain your savings and make it really expensive for you to get life insurance.
Finally, you could lose your retirement savings due to a civil lawsuit, paternity suit, divorce or criminal conviction.
Are you a life insurance salesman?
I don’t currently have any dependents. If I have dependents in the future I think it would likely make more sense to ensure their financial security in case of my untimely death with term life insurance and still defer a decision on paying for cryonics.
I’m a British citizen and a permanent resident in Canada so health insurance issues are less of a concern for me than they might be for a US citizen. I have no family history of mental illness.
You can assume I will take appropriate steps to protect my assets from the threats you describe and others as I judge necessary and prudent.