Most of our members will live past the end of their term life insurance, so they will need to provide a funding method that can take over once the term ends. Here are some of the options:
1) Extend the term life insurance:
Term life insurance can be extended until the age of 85. Of course this would make the monthly fee more expensive. Additionally, the insurance would reevaluate your health before extending the coverage. If you have major medical problems the insurance can deny the extension.
2) Fund the standby and storage directly:
Most people have accumulated significantly more wealth by the time they are 60-70 as opposed to 30-40. This means that when your term life insurance coverage ends, you should be in a much better position to fund your cryopreservation plan directly than you were when you first signed up for the plan. Additionally, we are actively working towards decreasing the costs of cryopreservation. It is likely that paying for a cryopreservation plan directly will be significantly cheaper when you age out of term life insurance than it is now.
3) Whole life insurance or other savings plan:
Read more about this option below.
For more information we recommend scheduling a consultation
with our team.