= 27d567bc2d48d9f40e9ccc20ea370b15)
gwern comments on How to get cryocrastinators to actually sign up for cryonics - Less Wrong
You are viewing a comment permalink. View the original post to see all comments and the full post content.
= 783df68a0f980790206b9ea87794c5b6)
Loading…= b715d02e85f7b3b4ae65ca3d3e450868)
Subscribe to RSS Feed
Powered by Reddit
= f037147d6e6c911a85753b9abdedda8d)
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (94)
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.
Actually, isn't there at least one respect signing up early does sort of subsidize yourself? The people who die after paying some premiums but lapsing and so never collect - the earlier you sign up, the more those lapsers subsidize the rest of their cohort who manage to keep up their premiums to the point of self-funding.
Yes, this also makes signing up early a better deal, provided you think you are less likely than average to lapse and lose coverage.