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.
|
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 |
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.
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
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.
Just go to that site and follow instructions. The CI email address to use isCIHQ@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