Anyone signed up for cord blood banking? Why or why not?

Although it seemed like a good type of insurance to have, we didn't take it up. Firstly because it was not a cure for diseases as we initially thought it was. Secondly the amount of cord blood stored could only be used once. Also there are not a lot of instances where the cord blood can be used. Research and application in this aspect are still fairly shallow. Hence given the benefits and range of coverage and applications, my hubby and I felt that the premium quoted is not worth it. Although CDA account can be used for financing the storage, we felt it could be used for other purposes.