In\u00a0a\u00a0previous article we shared with you some of the types of Insurance that may be unsuitable for people funding their Cryonics agreement with Alcor Life Extension Foundation or The Cryonics Institute. Occasionally we are asked to comment on policies that people have in place already, or are considering taking with other financial advisers.<\/p>\n
We have recently encountered a few interesting situations where clients had received financial advice from a mainstream financial advisers, with zero knowledge about Cryonics. These are some of issues that I thought it would be relevant to share with the wider Cryonics Community.<\/p>\n
Whole of Life Assurance<\/strong><\/p>\n Whole of Life Assurance is definitely the best type of Insurance for funding Cryonics and as you have seem in the previous article, there are a number of \u00a0different types of Insurance that people have tried to use unsuccessfully. Whole of Life Assurance is Life Insurance that will offer a guaranteed payout at the appropriate time. We have met a number of Clients who has been offered Insurance that in our opinion was unsuitable for their needs.<\/p>\n Low Start Premiums<\/strong><\/p>\n We have met a number of people recently who have been attracted to the discounted \u00a0premiums of Low Start Whole of Life Assurance plans. Although these “Skimmed” plans start out lower than their “Full Fat” alternatives, they almost always end up with higher premiums later in their term. When selecting a Life Insurance to fund your Cryonics it is essential to consider your future affordability, particularly in retirement.<\/p>\n Inflation Linking<\/strong><\/p>\n On a number of occasions we have met people who have not been advised to inflation link their Whole of Life Assurance. For some people this will mean that the original purpose to fund cryonics will not be met, because the cost associated with standby, transportation and membership agreements tend to increase in time. \u00a0It is essential that you take out an amount of Life Insurance that keeps pace with inflation.<\/p>\n Currency Fluctuations<\/strong><\/p>\n There have also been a few people that we have met, who have taken Life Insurance and not considered that there is normally a difference between the US Dollar and UK Pound sterling exchange rates. If you are considering taking either a Cryonics Institute or Alcor Life Extension Foundation membership, then their services will need to be paid for in US Dollars. It is essential that your planning takes into account the possibility of currently fluctuations in the future.<\/p>\n Trust Documentation<\/strong><\/p>\n We recently met someone who’s Financial Adviser had advised them not to place their Whole of Life Insurance into an Absolute Trust to their Cryonics provider, because it would be final. They were advised to complete a Discretionary Flexible Trust, which is not accepted by cryonics providers. It is essential that your financial adviser understands the requirements of the service provider and helps you to complete Trust documentation correctly.<\/p>\n Let us help you find the right Life Insurance for Cryonics \u2026\u00a0<\/strong><\/p>\n We hope you find this information helpful! Sometimes we are left wondering why anyone would try to fo this themselves or use a mainstream financial adviser to arrange their Life Insurance for Cryonic? 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.<\/p>\n Unusual Risks are the UK\u2019s leading financial advisers offering specialist advice on Life Insurance for the purpose of funding Cryonics. \u00a0<\/strong><\/em><\/p>\n For more information on Cryonics and Insurance in the UK you can contact Unusual Risks by phone on 0845 474 3075. Email at <\/strong><\/em><\/strong>Enquiries@unusualrisks.co.uk<\/strong><\/a> or visit us online at<\/strong><\/em>\u00a0<\/em>www.cryonicsinsurance.co.uk<\/em><\/a>\u00a0<\/em><\/strong><\/p>\n Unusual Risks are the approved Insurance agents in the United Kingdom for both Alcor Life Extension Foundation <\/strong><\/em>www.alcor.org<\/em><\/strong><\/a>\u00a0<\/a> and The Cryonics Institute<\/strong><\/em>www.cryonics.org<\/em><\/a><\/strong><\/p>\n