Cryonics - Financial Issues

Financial Issues

Financing storage of a cryonics patient at a cryonics organization by an on-going payment system was done in the early days of cryonics, but this system proved to be unworkable. Cryonics patients are to be stored for many decades, if not a century or two or longer, and a reliable source of outside funding is highly unlikely. Pay-as-you go funding was part of the reason for the CSC Chatsworth financial failure described in the history section. All modern cryonics organizations require full payment for all future costs associated with storage "in perpetuity" before patient cryostorage will be accepted.

Costs of cryonics vary greatly, ranging from the basic fee of $10,000 for neuro (head or brain only) cryopreservation at the European cryonics company KrioRus, to more than $250,000 for whole body cryopreservation by Alcor with overseas and last-minute fees. Alcor's neuropreservation (just the head) is priced at $80,000 while a full body preservation is priced at $200,000. There is an extra $500 annual membership fee during life by Alcor. After payment of an initiation fee, ACS full members pay an annual fee of $300 currently. To some extent these cost differences reflect differences in how fees are quoted. The Cryonics Institute fee of $28,000 or $35,000 does not include “standby” (a team waits for death to occur and begins procedures at bedside), transportation costs, or funeral director expenses outside of Michigan, which must be purchased as extras. CI Members wanting Standby and Transport from cryonics professionals can contract for additional payment to the Florida-based company Suspended Animation, Inc.

While cryonics is sometimes suspected of being greatly profitable, the high expenses of doing cryonics are well documented. The expenses are comparable to major transplant surgeries. The two most expensive things are standby expenses (a team of 5+ people needs to be hired for up to several weeks) and the money that must be set aside to generate interest to pay for storage of the patient in liquid nitrogen in perpetuity (especially for whole body patients).

The most common method of paying for cryonics is life insurance, which spreads the cost over many years. Cryonics advocates are quick to point out that such insurance is especially affordable for young people. Cryonics providers claim that even the most expensive cryonics plans are “affordable for the vast majority” of people in the industrialized world who really want it and plan for it in advance. With the advent of low-cost cryonics provided by companies such as KrioRus (so far in Europe only) cryonics becomes feasible even for last-minute cases.