Unusual Risks are the UK’s leading financial advisers at helping Cryonics people to find Insurance to fund their agreements, with either Alcor Life Extension Foundation or The Cryonics Institute. Occasionally we meet clients who require advice on an Insurance policy that they already have in place as part of their existing funding arrangements.
Over the last five years we have encountered a number of interesting scenario’s, that we would like to share with the Cryonics Community and our reasons why we feel it could effect your ability to pay for your Cryonics in the future. If you would like advice on either an existing Life Insurance or which is the best Life Insurance for Cryonics we are always happy to assist.
Decreasing Term Assurance
This form of Life Insurance reduces over time and is most suitable for protecting a Mortgage or Loan with a set term attached. We have encountered Cryonics clients who have this type of insurance and were under the impression they had a different type of cover that would give them a lump sum benefit at the end. This policy is definitely unsuitable for Cryonics.
Endowment Policies
An Endowment Policy could provide a suitable amount of Life Insurance that may effectively be used for Cryonics. However, we have met a number of Cryonics clients who have policies that have dramatically under performed, making their final lump sum benefits doubtful. Therefore this type of policy needs to be reviewed and checked regularly if used for cryonics.
Level Life Assurance
We have met a number of Cryonics members, that have taken Life Insurance several years ago, but were advised to take a policy that does not increase in line with inflation. The effect is that their sum assured is not keeping pace with the cost of their Cryonics services and at some point it is likely they will need to take additional Insurance to close any funding gaps.
Low Start Life Assurance
Over the years there have been a number of “Low Start” Insurance plans launched into the UK Insurance market. Low Start Endowments were terrible performers and something to be avoided at all costs. If an Insurance is claiming to offer discounts in the early years, be sure to seek advice as this could seriously cost you in the later years of the plan. Approach with caution!
Level Term Assurance
This type of Insurance can be suitable for cryonics members who already have cash in background, or an asset they plan to use to fund their agreement like shares or a property. For people that do not have the assets already, then this once again is an unsuitable type of Insurance because it has a set term and potentially could finish before the benefits are needed.
Let us help you find the right Life Insurance for Cryonics …
Unusual Risks are experts at finding Insurance for Cryonics members and regularly advise people on the effects of inflation, currency fluctuations and trust planning issues which effect members of Alcor and the Cryonics Institute. On many occasions we have met clients who’s policies are unsuitable for Cryonics and would urge people who have doubt about their policy to seek specialist advice.
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