Funding Cryonics with Insurance

Life insurance is a financial instrument in which you pay a certain amount monthly or annually to an insurance company, and upon your death, the company pays out a lump sum to your designated beneficiaries. This makes it an ideal funding mechanism for cryonics arrangements. Instead of paying the full amount upfront, you can name your chosen cryonics provider as the beneficiary of a life insurance policy specifically designed to cover these costs.

The economics make much more sense for the average person. For example, a healthy 30-year-old might pay anywhere from $30-100 per month for a $250,000 term life insurance policy. This is much more manageable than a loan for most people.

When setting this up, you'll want to work with an insurance agent who understands cryonics funding. The policy should be irrevocable. I personally recommend taking out a whole life policy, as it won't expire as long as you keep paying, and it can accrue a cash value in case you stop being interested in Cryonics later in life.

It's important to ensure your policy amount accounts for inflation and potential cost increases in cryonics services. I recommend recommend purchasing coverage that exceeds the current price by at least 50% to account for future adjustments.

For those with pre-existing health conditions that might make traditional life insurance difficult to obtain, there are still options. Guaranteed issue policies, while more expensive, don't require medical exams. Some cryonics advocates also establish trusts that they fund over time as an alternative to insurance. One mitigating factor is that not every insurance company will insure cryonics patients. It is essential to find an insurance agent that has reputation in the field so they can guide you. Your preferred cryonics organization will most likely have contacts with agents, so ask them first what they recommend before applying for anything.