There are many things that you can achieve with life insurance, including funding cryonic preservation. Cryonics is an emerging area of science that has gained lots of attention in recent years. An organization called the Alcor Life Extension Foundation now offers full body or head-only cryonic preservation, which can be funded by your life insurance policy (giving a new definition to the term “life insurance”!) That’s precisely what we’ll explore in today’s article from Tenaya Insurance Services.
What is Cryonic Preservation?
In recent decades, scientists discovered that frozen cells and small organisms would emerge from a state of suspended animation when warmed and thawed. This discovery ultimately evolved into the scientific field of cryonic preservation, which focuses on using cold temperatures to achieve a state of suspended animation, which can be reversed at some point in the future.
The Alcor Life Extension Foundation is the world’s front-runner in human cryonic preservation. The organization oversees the cryonic preservation process for its clients, who are then stored in their facility where they will remain until science and medicine progresses to the point where resuscitation is possible.
When this scientific milestone is reached, the organization will oversee the process of resuscitation of its cryonically preserved clients, helping them to re-integrate into society.
The funds that are paid to the organization are placed in a trust; this trust is used to cover the costs of cryonic preservation, storage and ultimately, resuscitation and reintroduction into society. The latter is key because reintroduction could occur hundreds or thousands of years in the future, in a very different world. Since it is so challenging to put aside funds or assets for your future self, the organization is committed to helping its cryonically preserved clients find their way in a very different world in some point in the future. (Notably, the organization has created a Model Revocable Asset Preservation Trust that Alcor members can use as a model to use with their estate and financial planning team.)
According to the organization, many clients opt to be preserved with a loved one so they are not alone in what is certain to be a new and very different world.
At The Alcor Life Extension Foundation, cryonic preservation is available in two basic forms: full body preservation and head-only preservation, also called neuropreservation. Full body preservation is a bit more challenging, as successful resuscitation would require correcting whatever problem led to the individual’s death. Head-only preservation is less challenging from this perspective (unless the head was directly involved in the cause of death, such as a brain tumor). Of course, head-only preservation assumes that at some point in the future, humans will have the ability to generate a new body (organic or perhaps non-organic), which can then be affixed to the head.
The Alcor Life Extension Foundation has a response team that is dispatched in the event that an individual is dying so they can begin the cryonic preservation process immediately, maximizing the chances of a successful resuscitation in the future.
Of course, this chance at a future life does not come cheap. A whole body preservation costs $200,000, whereas with a head-only neuropreservation runs $80,000. This is where life insurance can come into play.
How Can You Use Life Insurance for Funding Cryonic Preservation?
The Alcor Life Extension Foundation offers a number of different payment options for those who wish to be preserved, including trusts, annuities, prepaid cash and life insurance. There is also an annual membership due. Membership is required, as prior arrangements must be made to ensure the preservation process is performed in a prompt manner (as is required to maximize the chances of resuscitation in the future.)
For those who would like to pursue cryonic preservation using life insurance, the process is fairly simple. First, you work with your insurance agent at Tenaya Insurance Services to find the right life insurance plan to suit your needs. This life insurance plan will disburse funds to The Alcor Life Extension Foundation at the time of your death.
Then, you simply provide this and other paperwork to The Alcor Life Extension Foundation and formalize your membership. Once you become a member, your loved ones can notify the organization if your death becomes imminent.
Unfortunately, cryonic preservation is not always possible. In cases where the individual dies and the body is allowed to decompose or in cases involving head trauma, preservation may not be possible. In these cases, the life insurance policy would typically benefit your family members instead.
Visit the Alcor Life Extension Foundation website to learn more about cryonic preservation, including the science of cryonic preservation, the legalities, the spiritual considerations and lots more.
If you’re considering cryonic preservation, Tenaya Insurance Services is available to help you get a suitable life insurance policy. In fact, we recently assisted a 27-year-old client who was seeking this offering!
Turn to Tenaya Insurance Services for Your Life Insurance Solutions
Life insurance isn’t just for leaving money behind for your family after you die. There is so much more that can be achieved with life insurance, including tax benefits, retirement planning and benefits, funding cryonic preservation, saving for college, planning for a special needs child or other loved one, providing disability and income protection and beyond.
But finding the right type of insurance can be a challenge. This is exactly where Tenaya Insurance Solutions can assist, as we’re here for all of your life insurance needs and beyond.
Tenaya Insurance Services is here to meet all of your insurance needs. To schedule a phone consultation or live video chat, click here. You can also get started by completing our new client form. Or, contact Tenaya Insurance Services by clicking here to call 800.387.2567.