How Europeans Can Sign Up for Cryonics

Click here for the Cryonics Institute contents page. Scroll down to How to Become a Member and read the articles, and then download the forms from Cryonics Institute Paperwork.

The purpose of this article is to show you how to maximise the use of your money used for cryopreservation. Many cryonics organisations are unaware of financial efficiency and will tell you to do something that gets the money to them fast but you do need the advice of an independant financial advisor to get the best possible choice for your personal circumstances. No one can be experts at everything, and the cryonicists are improving their financial expertise, but they have rather more to think about than maximising their members' investment performance. Although $28k seems a lot, I plan to show in this message that it is attainable by virtually anyone with a job, and indeed there were rumours of someone trying who was on the DHS.

If you are interested in signing up yourself, you may be interested to know that the Cryonics Institute offers a service in the UK and Europe through London funeral directors Barry Albin & Co, who have been trained in CI methods. You can contact Albin's at Arthur Stanley House, Culling Road, London SE16 2TN. They will fly personnel to the site of a deanimation anywhere in Europe by light aircraft and make all the necessary arrangements. They can be paid by the CI if you allow the CI the necessary funds in your trust (see below) This arrangement is most likely to be the most effective from the point of bview of both the patient and the cryonics organiasaton.

CI charges $28k plus about $15k for transport (both payable on death) and a joining fee of $1,250, for a whole body cryopreservation. The CI fee has never been increased, and is very much lower than other organisations. Despite this, Russian research on their protocol shows it to be as effective as we know how. Its president has written in 2004 that CI hopes to be able to offer, at the same cost, vitrification to patients who die near its Michigan facility.

Cryonics Europe has aquired the service of some Independent Financial Advisors. They can offer advice on direct investment, life insurance and indeed all forms of investment or insurance that best suits each specific individual. They are aware of the needs of the cryonics organisations and can match these to the best possible investment performance for the individual concerned.


 
Philip Baxter <Philip@415.co.uk> has been receiving enquiries from people who have been referred to his company, 415 Independent Financial Planners,  by Cryonics Europe. The company has identified the prime objective of cryonicists as being to ensure that a lump sum is provided on their deaths to pay for the provision of cryonic preservation services.

Having dealt with these first few enquiries, Mr Baxter has identified where the company can improve on its process in order to improve the speed of delivery of the service.

He has spent time with Graham Holliday and Simon Marshall (the designated adviser) looking at various issues. The brief comments that follow will hopefully cover all the areas that need to be addressed.
 
Please contact the company via any of the following:
Email
send an email to cryonics@415.co.uk
Fax to fax number 01235 763337
Letter addressed to 415's Freepost address:
415 IFP
FREEPOST
Wantage
Oxon
OX12 9BR
Telephone
call 0845 1300 415
stating that the enquiry relates to cryonics

Enquirers will be expected to be clear from outset on the amount of cover they require - this knowledge resulting from prior conversations and/or meetings between the prospect and the cryonics group. The company will limit the information they request at this point to only that needed to obtain illustrations.  Should the company receive an enquiry from someone who is unclear on the amount of cover they require he will be directed to Cryonics Europe for further advice.
 
The company's ongoing service standard would be to respond to all enquiries within 2 working days. They will supply a report to the enquirer with the options open to them, an explanation of the relative merits of each option and illustrations of the cost of each option.  A recommendation for the favoured option, with reasons for the recommendation will be included.  The enquirer will also be directed as to the next steps they need to take including how to raise any questions they may like answered.  The company believes they will be able to supply this report in each case within 5 working days of receiving the enquiry.

On receipt of confirmation from the enquirer as to how they wish to proceed the company will provide them with the appropriate forms, partially completed wherever they are able to, with instructions on what to do or who to telephone for assistance.  These will be sent or e-mailed within two working days of the enquirer providing confirmation to proceed.

Underwriting of cases is mostly out of the company's hands but they will chase the various life offices through to policy production.  Policy documents received will be checked and sent out within three working days of  their arrival in the company's offices.

As far as trusts are concerned they can advise clients if any particular policy can be put into trust and supply copies of standard trust documentation. Prospects would however need to be aware that - understandably - the company would be unable to advise if the wording of any trust document met the requirements of either the cryonics providers or their own family circumstances.  They have discussed the trust side with a local solicitor who would be happy to provide a service for putting these policies in to an appropriate trust, [which service would be charged (+VAT) separately by the solicitor.]

Sadly they are unable to assist anyone who is not resident in the UK on a permanent basis at the present time.

415 Independent Financial Planners is a trading name of 415 Financial Management Ltd registered in England, Company Registration number 3019348,  which is a member of DBS Financial Management PLC, which is regulated by the Financial Services Authority, Independence House, Holly Bank Road, Huddersfield, HD3 3HN, telephone 0870 0401983, member number 1794. DBS is  part of the MISYS group of companies.

Cryonics need not cost you very much beyond ordinary investment practise. If you are young and start these practises now, and if something better than cryonics comes along, you will still be able to afford it. Indeed, if you decide that cryonics is not for you, then you will still have the funds for other purposes. For most people, the order of magnitude of costs is only a few pounds a month, but obviously this can vary widely according to individual circumstances.


LIFE INSURANCE: UK OK

To prospective members of CI in the UK:

Our attorneys, in consultation with UK solicitors experienced in insurance law, have completed our review of the possible risks in accepting UK life assurance (life insurance) policies as funding for a CI contract. We are glad to say that we are prepared to continue to accept UK insurance as adequate proof of payment.

I won't go into all the details, but the gist is as follows. In the UK, as in the US, a beneficiary must have an "insurable interest" in the life of the insured. If the beneficiary is a corporation, the generally recognized types of insurable interest include the case where the insured owes a debt to the beneficiary, or the case where the insured is an important employee of the beneficiary.

In our case, there is only a "contingent debt," since the debt is not actually incurred under our contract until death of the insured. The contingency is only one of time, not of uncertainty, but whenever there is any vagueness in the law there is always a chance that a court might rule based on political or ideological considerations, and a judge hostile to cryonics might rule based on that hostility. Under the UK law (two centuries old, and intended to discourage gambling or fraud), the insurable interest requirement is broader than in the US.

Incidentally, we understand that relatives cannot challenge under the statute nor benefit from nonpayment to CI; and if the company pays, no one can then force a return of the payment. It is theoretically possible for the company to understand the situation, promise to honor CI's status as beneficiary, and still later refuse to pay by claiming lack of insurable interest.

The bottom line is that we believe the risk of nonpayment by the insurance company is small but not negligible. Consideration of this issue convinced us to make a small change in our standard contract, to clarify what we believe to be already set forth therein.

The contract already provides that CI must be satisfied with the funding arrangements, and that the patient or patient's estate is responsible for payment. But our change in language will make this clearer. (The new wording--for members or prospective members who have not yet executed a contract--should be on our web site in the next day or two. Those with contracts already executed do not need to do anything.)

Again, this will apply to the standard contract and all new members, not just in the UK. Thus, if it were to appear that insurers in a particular jurisdiction would not honor the designation of CI as beneficiary, then CI could decide that--in that jurisdiction, UK or elsewhere--life insurance is not acceptable, and notify affected members accordingly. At present, we have no reason to do so.

We will continue to seek out insurance companies and agents who will offer the best and most convenient service.


Addendum June 2001


For those planning to fund CI suspensions through UK life insurance, using a deed of trust to name CI as beneficiary (or as the new beneficiary), we recommend also naming CI as the trustee, to minimize risk.

Robert Ettinger Cryonics Institute


Credit Card Payments

Cryonics Institute is now able to accept credit card payments not only through PayPal but directly from VISA, MASTERCARD and AMERICAN EXPRESS -- on the telephone or by mail.

www.paypal.com

Just go to that site and follow instructions. The CI email address to use is

CIHQ@aol.com

If you sign up with Paypal (no charge), you can remit money via credit card to anyone registered with Paypal, including Cryonics Institute. Paypal collects a small fee, but CI absorbs that, so it costs you nothing.

PayPal can also be used to send remittances to the Immortalist Society, for subscriptions for The Immortalist, and tax-deductible gifts to the Immortalist Society research fund. Please use account name immsoc@aol.com

Paypal does not give us your credit card number, or even the name of your credit card company, for enhanced security. It is available any time, any day, with quick confirmation. This should be a convenience for some of our members and prospective members, especially outside the U.S.

If you are considering a donation to the James Swayze Fund, but have not yet made it, Paypal offers another easy way to handle it. Please don't delay.

If you have questions, please send them to our coordinator for member relations and public relations, Andy Zawacki, at

CIHQ@aol.com

Robert Ettinger
Cryonics Institute
Immortalist Society
http://www.cryonics.org