[extropy-chat] Article: Who would not seize the chance to live to be 150?

[Keith Henson]

At 09:22 AM 2/11/2006 -0500, Robin Hanson wrote:

>At 12:25 PM 2/9/2006, Keith M. Elis wrote:

> >What evidence is there that the average human lifespan in the
> >developed world is about to suddenly increase at a rate faster than
> >we are experiencing currently?
> >I ask because if I really believed this were true, I would form a
> >company to offer permanent cash value life insurance to healthy
> >applicants at steep discounts to the prevailing market premiums
> >which are based on soon-to-be-proved-incorrect actuarial tables. ...
>
>The fact that no life insurance companies or speculators seem to be
>taking this strategy, even though there are many who could, strongly
>suggests that none of them think this scenario very likely.  Which to
>me suggests that it is in fact not very likely.

Even if it was viewed as likely, and a company wanted to offer such a deal, 
chances are that insurance regulations would not permit it.

The heavy regulation of insurance companies can be traced to a long string 
of criminal acts. In fact, many of the regulations are the result of 
particular frauds resulting in a company's collapse.

Most of this happened well before any of the list members were born 
including me. About 20 years ago I got interested in the subject as an 
example of the historical acceptance rates of new ideas.

Life insurance curves were straight lines on semi log paper, but the US 
lagged the UK by about 20 years and the French lagged the UK by 60 years. 
(From memory, I might be able to find the source if anyone wants it.)

Keith Henson


>Robin Hanson  rhanson at gmu.edu  http://hanson.gmu.edu
>Associate Professor of Economics, George Mason University
>MSN 1D3, Carow Hall, Fairfax VA 22030-4444
>703-993-2326  FAX: 703-993-2323
>
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