Comment on Open thread, 14-20 July 2014

Wed, 16 Jul 2014 13:21:19 GMT

The main flaw I can think of is that insurance is a money-loser on average - otherwise the people selling it wouldn't make any money, so they wouldn't offer it at that price. I can't immediately find average ratios for life insurance, but typical payouts for medical insurance are 80% of premiums while the figure for property insurance is more like 50%.

In other words, the expected net cost of taking out the insurance policy, if you never decide to redirect it to cryonics or loved ones, is going to be somewhere between 20% and 50% of the premiums. Is that worth it for the extra flexibility it gives you? That's something only you can decide.

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