“Spotlight On Trusts” – Unusual Risks have saved Cryonics Members thousands of pounds in solicitors costs, by providing trust documentation free of charge alongside their Life Insurance policies. We will be attending the Cryonics UK training day Saturday 13th January in Sheffield for a Q&A Session, with a special focus on absolute trusts, which is open to both existing and new Cryonics Members.
PRESS RELEASE – SUMMER 2017
Unusual Risks, the Cryonics Insurance advisers are today announcing the results of their latest Cryonics and Insurance Survey. After conducting research into the UK’s leading insurance providers, they can now confirm that 25% now offer Absolute Trusts, 58% Bare Trusts and 17% Fixed Trusts alongside their Insurance policies, potentially making their products suitable for funding Cryonics.
The survey was conducted to confirm the compatibility of UK Insurance policies, alongside the membership requirements of both Alcor Life Extension Foundation and The Cryonics Institute. Both organisations accept Insurance as a form of payment for Cryopreservation. Also in this year’s survey it was confirmed that the current average sum assured taken out was £110,343 with a minimum taken £60,000 and maximum taken £270,000.
Speaking about their survey, Chris Morgan, Lead Financial Adviser of Unusual Risks Said;
‘In this year’s survey we have researched the suitability of various companies trust documentation and established that Absolute, Bare and Fixed Trusts all are very similar with the eventual beneficiary nominated at outset. Once nominated the beneficiary cannot be changed on any of these trust arrangements.
‘Both Alcor and Cryonics Institute require members to place their Insurance into a Trust to make sure funding is completed in a timely manner at the point of suspension. We have established that most insurance providers provide suitable Trust Documentation in some form, but potential Cryonics members should seek specialist advice before applying for Life Insurance and completing these forms.
In theory Cryonics members could use any insurance policy to fund their agreement, with a solicitor writing an irrevocable trust deed alongside. However, we have met a number people who have found this method to be very expensive, with solicitors known to charge thousands of pounds for creating trust documents for clients.
Unusual Risks have conducted research and are able to use Insurance providers that offer an “Absolute”, “Bare” or “Fixed” Trust documents alongside their policies free of charge. Chris Morgan and Unusual Risks have been helping the UK Cryonics community for the last six years to arrange all types of insurance policies for their needs.
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 Institute www.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