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MichaelGR comments on Normal Cryonics - Less Wrong
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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.
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.