Yes, that set of choices is irrational. If a 1% chance of irreversible death is worth more than $1000 for you to prevent, that's true regardless of your base chance
Why does that make it irrational? Why is it irrational that the amount of risk you are already facing can and should affect the amount you are willing to pay to avoid further risk?
Or to put it in more formal terms, why is it irrational to have a non-linear utility function?
Hello,
one question that I don't see answered is what is the duration of your life insurance? Should I buy life insurance for 20,30 years or unlimited?
I could pay more for a longer life insurance or pay less for an insurance that will cover 20 years and invest the difference and then some so that by the end of 20 years I will *hopefully* have enough money to pay for cryonics out of my own pocket.
Has anyone done an analysis on that?