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CronoDAS comments on How to get cryocrastinators to actually sign up for cryonics - Less Wrong
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The premiums do go up as the age at which you start a whole life insurance policy increases. Unless when you are delaying you are saving the money you would have paid in premiums (and investing it as well as the insurance issuer would) to subsidize the higher premiums later (no one is actually doing that), getting life insurance is going to get increasingly expensive as you age. Unless you are increasing your income to match, this makes it less affordable.
It's not that the insurance provider is giving a good deal for signing up early, it's that life insurance is like an investment with risk management added on, and starting early gives your investment more time to grow.
Whole life insurance, yes. Term life insurance (which pays nothing unless you die during the specified time period), no. And the "cheap" premiums cited by cryonics people are for term life insurance.
I was explicitly talking about whole life insurance, which I advocate using for cryonics, and which I use myself. It is more expensive initially, but it lets you lock in your premiums when you are young and healthy.
If you do use term life insurance, it is cheaper when you are young because you are less likely to die during the term. But, unless you have a plan for how to fund your cryonic suspension after you survive the term, using it to fund cryonics is crazy.
I do not endorse citing the premiums for term life insurance as the cost of cryonics.