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ciphergoth comments on Normal Cryonics - Less Wrong
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The estimate is a range with a lower end. I may be able to afford it one day, in which case I don't want to piss him off by mucking him about before then.
There's some evidence other options may be closer to reach; I haven't entirely given up yet. At the very least I'll have cleared a lot of the hurdles that people "cryocrastinate" about, like investigating the options and talking to family, making a later signup more likely.
Let me rephrase. Rudi Hoffman says it costs a minimum of $1500 a year. The quotes I have seen for term life insurance work out to less than $300 a year for a $100K payout and a 30-year period. There is a discrepancy here which is puzzling, and one of the best ways I see to resolve the discrepancy is to ask the man himself, which I have done.
He is taking way more time to respond than I was expecting, which is messing up my feelings about the whole thing. You would help me if you were to contact him yourself and share your info. We don't know each other much, so I won't feel bad if you aren't interested in helping me out. Having said that: will you help me ?
You should be looking at whole life insurance, not term life insurance.
Let me know if he takes more than a week to reply...
Could you elaborate on why you think that?
If I get 40 year term insurance now but live to 78, I'll then be uninsured and unable to afford more insurance, so I won't be covered when I most need it.
The general idea of term insurance is to ensure that your heirs get something if you die during the n years it takes you to build them an inheritance. The cryonics equivalent of this idea is that you don't need whole life insurance if you expect over the term of the insurance to save enough money to pay for cryonics out of pocket.
I think the idea is to ensure an income during the term of childhood; when the term ends, one expects that they are capable of supporting themselves. If it were about inheritance, then it would be comparable to cryonics, but I don't think it is.
From Wikipedia: "Many financial advisors or other experts commonly recommend term life insurance as a means to cover potential expenses until such time that there are sufficient funds available from savings to protect those whom the insurance coverage was intended to protect." That's the idea I meant to convey; the above phrasing nicely covers both the "inheritance" and "funding cryonics" cases.
I suspect you are under-estimating your future earnings ability, unless you plan on going into something that pays poorly, like trying to solve existential risk.
I'm still not sure what to get. I hear that whole life is significantly more expensive than term, so the savings from term could be put aside to later pay for the higher premiums? Hmm, but maybe whole life makes more sense. Or since I'm 27, maybe I could get a 10 year term and then switch to whole life.
Yes. In fact, that's exactly what the insurance company does with your premiums when you buy whole life. Except they take a bunch out for themselves. There's no good reason to buy whole life when you just could buy term and invest the difference until you have enough saved to pay for the cryofund. Except if you don't think you will be disciplined enough to regularly invest the difference, and even then, you can have money automatically taken from a bank account into your cryonics account.
Albeit that if the money is in your name, those who might otherwise be your heirs will have a motive to try and stop your cryonic preservation to get their hands on the money.
It's happened.
True, but you can set up an irrevocable trust to prevent that.
It's a lot easier to just buy a life insurance policy.
Yes, I found whole life to be 4-5 times more expensive than term.
I'm currently contemplating going for 40 year term and betting that either the world will end before then, or if not that the Singularity will take place, or if not that cryopreservation will be much cheaper by then.
Ten days and counting.