Unusual Risks are the UK’s leading financial advisers helping people to find Life Insurance for the purpose of funding Cryonics. Over the last five years we have helped many Cryonicists complete the process of joining Alcor Life Extension Foundation or Cryonics Institute by taking out Life Insurance.
We are the approved Insurance agents in the UK for both organisations and have advised many clients on their Life Insurance requirements. Below are some of the most popular factors to consider when taking out Life Insurance for funding Cryonics …
Benjamin, Aged 40, Computer Scientist.
Benjamin first became interested in Cryonics over 20 years ago and he decided that taking Insurance was the best way to fund the fees involved. At the time he took out a Life Insurance that combined both Insurance and Investment elements, similar to the Endowment plans commonly used for repaying Mortgages.
He has become aware over the last few years that the plan was falling short of the original projections, as the Insurance Company had been sending him review letters. He has also been aware that the price of Full Body services with his Cryonics provider had also increased significantly since taking the Insurance 20 years ago.
Here are some of the Key Issues for Benjamin and other’s looking to fund their Cryonics agreements.
Members Fees
Both Alcor and Cryonics Institute have very different approaches to their pricing policies and we always offer a full range of quotations, for anyone approaching us for advice about Cryonics. The amount of Insurance that you put in place is a very personal individual decision and we are very experienced advising people on the best amounts for them to put in place.
Inflation Costs
It is wise and sensible to make provisions for the possible cost of Cryonics both now and in the future. For example, any Insurance plan you take out should either be large enough to take into account future prices rises, or have some form of inflation strategy built within the plan.
Currency Fluctuations
You should also remember that the majority of the costs involved with Cryonics have to be paid in US Dollars, so any Insurance plan that you take out needs to have provisions for currency fluctuations between the US Dollar and UK Pounds Sterling. We are also experienced at helping Cryonicists make provisions for both Currency fluctuations and Inflation Costs.
Trust Documentation
Both Alcor and Cryonics Institute require that any Life Insurance policy be placed into trust directly to them. In theory any Insurance plan could be used for this purpose, alongside an Irrevocable Trust Deed. However, this method is often expensive when compared to using Insurance companies that offer their clients an “Absolute Trust” document without charge.
And Benjamin?
All of these factors can make taking Insurance for Cryonics very complicated and are always happy to provide help and guidance to anyone concerned with taking Insurance. We helped Benjamin to calculate the potential shortfall in the future and recommended a policy to help bridge the shortfall in his planning.
Unusual Risks are the UK’s leading financial advisers offering specialist advice on Life Insurance for the purpose of funding Cryonics.
For more information on Cryonics and Insurance in the UK you can contact Unusual Risks by phone on 0845 474 3075. Email at Enquiries@unusualrisks.co.uk or visit us online at www.cryonicsinsurance.co.uk
Unusual Risks are the approved Insurance agents in the United Kingdom for both Alcor Life Extension Foundation www.alcor.org and The Cryonics Institutewww.cryonics.org
People in the United Kingdom wanting to know more about the subject of Cryonics should contact Cryonics UK at www.cryonics-uk.org