Cost and Funding
Insurance Funding

Insuring Cryonics Preservation
The potential for big profits in Asia
A new need
A new necessity

Currently in Asia, insurance is a huge and growing market for protection of the family and other contingent liabilities. Saving for a secure retirement, education or passing on a financial legacy to children. Because of the strong cultural bond we see in “Family” here in Asia, it seems that everyone is selling insurance to everyone else.

The prospect of a life extension outcome through the Science of Cryonics will create a new need for many new converts in the Asian market. A new necessity, to include Cryonics preservation and suspension in one’s life plan, will require a broadening of coverage to be funded through financial planning.

We see Thailand as the natural launching pad with its current high participation rate per capita in the purchase of whole life insurance. The rest of South East Asia and China will naturally follow for this new Thailand Insured cryonics offering.

A need to fund our immortality changes our financial Planning needs. So, a perceived need will develop into a new insurance necessity.

The business of Cryonics in Thailand initially, will benefit from the crafting and structuring of a new insurance product specifically designed and branded to assure the proper funding of Cryonics Preservation. With the help of the insurance company, we can tailor a “needs driven” branded product that can become the popular “gold standard” product that is offered through Cryonics Asia, Ltd.

The business of Cryonics in Thailand will benefit from profitable opportunities through monthly insurance premium payments for maintaining these longer term policies, lump sum Annuity purchases or Trust deposits for those individuals of more advanced age and the fact, that under these structures, by necessity, the named beneficiary of life policies and recipient of lump sum trust accounts will be the Cryonics Company itself. Thus, we see at least three “pay points” for Cryonics Asia, Ltd. to earn a profit.

     1) Monthly premium payments
     2) Annuity purchase / trust deposits
     3) Beneficiary end-of-life disbursements

Monthly premium payments could be as low as $10 per month for individuals in the 27 to 31 year old age bracket (currently employed and set up easily via bank debit) with all end-of-life beneficiary payments, upon clinical death, of $200,000 + going directly to the Cryonics service provider.

If this Cryonics concept catches on throughout Asia, and it surly will, this can become a highly profitable business.

Why is insurance so important in the profit picture?

If you ultimately choose Cryonic suspension as your final end of life wish, you must decide how to fund the costs of standby, transportation, profusion and suspension with a Cryonics organization.

If a decision is made by the client to accept and provide for this speculative opportunity, then the question will be asked “Should you take out a life insurance policy to fund your suspension?” For most people, it makes sense to use life insurance to fund these exciting possibilities.

First the Client will be sold on the possibilities (with supporting probabilities).

Second the client must decide on the immediate necessity of the funding.

The choice to use life insurance provides for a guaranteed outcome for your end-of-life wishes and prevents your estate from being unnecessarily reduced in providing for that cost. Estate proceeds will not go to the Cryonics Organization at the expense of your survivors. Once insured, there is an immediate and sure payment upon death to your Cryonics Organization. This will assure your suspension. Also, survivors do not have the opportunity of second guessing your end-of-life choice by delaying or litigating your wishes.

There is an empirical way of determining the optimum funding that will appeal to most rationally minded cryonicists. This can be structure and crafted into the various branded insurance offerings. The provision of branded creative funding will be the vehicle offering that captures the exciting possibilities of Cryonic Suspension and generates the ultimate profit for Cryonics Asia, Ltd.

A sales process offering possibilities and dreams

It all starts with the client exploring the scientific viability of the possibilities Cryonics may hold for the future. There are numerous scientific discussions on its promise as well as what probabilities you would really be dealing with. If the client is convinced of its potential viability, then their dreams and desire for immortality can be included within their current financial planning horizon.

Cryonics is a speculative life support technology that seeks to preserve human life in a state that will be viable and treatable by future medicine. It is expected that future medicine will include mature nanotechnology, and the ability to heal at the cellular and molecular levels.

Cryonics is not an internment method or mortuary practice. Properly applied, Cryonics is an intervention in the dying process as soon as possible, after legal death, to preserve the brain as well as possible. Practitioners of the Cryonics process seek to prevent loss of information within the brain that encodes memory and personal identity, which is the true boundary between life and death.

Cryonics is an attempt to preserve and protect the gift of human life. The purpose of Cryonics is to maintain life, not reverse death. Clients in Cryonic Suspension are referred to as long term Cryonics “patients”.

Other revenue opportunities

There will be other Value Added opportunities for generating company revenue and setting Cryonics Asia, Ltd. apart from other purveyors that are sure to surface in the Asia space.

Cryonics Asia Ltd, intend to offer membership in a Foundation that will offer valuable membership services for an additional yearly dues plus donation opportunities.

Most exciting will be the provision of a viable and legal solution to the need for rapid response and efficient vitrification when end-of-life occurs. Rapid response and the delay between time of “death” and start of procedures, Ischemic injury, transportation, storage as well as immigration issues preclude most Asians from ever considering this potential immortality option. The West being a distant time constrained option.

We intend to establish an End-of-life Hospice Resort in Thailand that will eliminate any patient’s concerns about response time and allow a greater flexibility for a patient’s life ending choice vis-à-vis cryonics preservation. We will eventually draw patients from all other locations in Asia.

Ultimately, this all will require the execution of a complete business plan that moves the business from being a value added reseller (VAR) of services to a full cryonics facility that encompasses marketing, hospice resort services to the provision and maintenance of full cryo-storage facilities; all here in Thailand.

Marketing will be a sizeable start-up budget Item, but will soon be absorbed by an increasing volume of membership and insurance sign-ups. This will provide immediate revenues to the company.

Thai Insurance Market Opportunities

The Thai insurance market is one of the smallest markets in addition to being one of the fastest growing markets in Asia. The industry has recorded strong growth during recent years when the whole economy was facing several crises. This growth is mainly attributed to the increased awareness about insurance products, the tax incentives offered by the government and the strong Thai cultural attachment to family.

The country is relatively underdeveloped in terms of insurance penetration yet the Thai insurance sector is poised for strong growth on the back of increased economic activity. The life insurance segment dominates the insurance industry of Thailand, accounting for 70% of the total market share. AIA is the major life insurer and it was the first foreign-owned insurance company to enter the country.

Thailand is the 2nd largest economy in Southeast Asia, after Indonesia. It ranks midway in the wealth spread in South East Asia and is the 4th richest nation per capita, after Singapore, Brunei, and Malaysia.

The industry is growing in excess of 17% to over $7 billion USD with premiums amounting to THB212.4bn. Despite this recent growth, penetration is still low in Thailand. The value of life insurance premiums is only at 2.7 per cent the value of GDP, compared to 4.3 per cent in Singapore, so there is still room for growth in the country of 70m people.

Thailand has approximately 72 licensed property and casualty insurers and 25 licensed life insurers registered with the OIC.

Some of the top foreign insurance companies in Thailand are ACE, AIG, Allianz, AXA, Generali, ING, Millea Holdings, Manulife, New York Life and Prudential (UK). The market is dominated by AIA, the local name of AIG that accounts for approx. 20% of all of gross premiums. Thai Life (TLI) is considered to be the second largest player overall with a market share of approx. 14%. The next largest group is considered to be a joint venture between non-life insurer Ayudhya, local conglomerate Charoen Pokphand and Allianz (AACP) with a market share of approx. 14%. Other major players in this market are Ocean Life, Finansa, local associates of AXA (Krungthai) and ING.

The Thai insurance industry is highly concentrated due to the presence of foreign insurers with large market shares. The ten leading insurance companies in Thailand account for 90 % of the total written premium.

This high concentration of market share of only 3 major providers, within the second largest SEA economy, show that the market is ripe for other competitive providers to enter this market with new and creative niche branded insurance products and as new offerings seen in the market by younger Thai buyers.

The rising urban population, improving living standards and rising demand for automobiles are anticipated to serve as major growth drivers for the Thai insurance industry. The huge untapped rural population is another growth opportunity for the insurance sector. All these factors, coupled with high saving rates, strong economic growth will continue to boost the Thai insurance industry in near future.

There is a strong need for the whole life insurance product in Thailand as the Thai’s are very family focused and future oriented in wanting the best for their families and children. Protection and savings products fit well for Thais and are particularly keyed to strong cultural needs. Education is highly valued in Thailand and there is a big market amongst young Thais emanating from new family formations and saving for college for their children to attend the better Thai universities. These insurance products fill not only an economic desire but address a strong need within Thai culture to elevate themselves and their families to a higher status (face) in Thai society.

Given Thailand’s leading economic position within the South East Asian region and the relatively low penetration of life insurance in the domestic market coupled with Thailand’s economic rebound following the political crises and recent floods of last year, Thailand now presents a unique opportunity for additional insurance providers to enter this lucrative market.

The Thai equity market has shown recent strong gains over the last 5 years. New insurance products, where returns are linked to long term equity market performance, currently fits well for development of new offering structures

Recent commentary on Insurance industry competitiveness in Thailand

The Thailand Trade Representative (TTR) reports that currently Life insurance premiums in Thailand are too high. TTR member Pruttchai Viriyaroj said he believed that high premiums reflected low competition in an industry that has only 25 life insurers, dominated by a handful of large companies.

High premiums may be one reason that the number of life insurance policyholders in Thailand is still small relative to some countries, acknowledged Chantra Purnariksha, the secretary-general of the Office of the Insurance Commission (OIC).

The time is ripe for entering the Thai life insurance market and creating new and innovative niche life products to bring to market given the young demographic landscape in Thailand and the over concentration of life product providers.

Cryonics Asia, Ltd. expects to create specialty insurance structures that will wrap hospice and terminal care, rapid response, preservation, transport, suspension and storage cost all in with maintenance and eventual resuscitation as well as a follow-on life continuance annuity trust; inclusive in one membership / insurance premium payment. This proposed package, now in development with a prominent Asian insurance provider, will be branded specifically as the new Cryonics Flexible Funding insurance structure.

Exciting ideas are afoot here in Asia! Cryonics is one of them.