At this stage we have 9 investors and are talking to 2 more people.
We’ve incorporated but disciplined ourselves to having at least the first 10 before we start spending significant amounts of money on development. Looking for land and construction are therefore set to start very soon but we will continue to accept investors through the construction period until the facility becomes operational.
We recognise that there is a risk factor involved with signing up for a cryonics organisation that is completely new (so new it isn’t even operating yet). That’s why the pioneering investors are given increased voting rights and involvement in the project along with a number of other benefits.
Once we start construction we will continue to accept investors but with less voting rights. The main advantage for this group will be the discounted cost of a suspension. ($50,000 final and complete cost, as opposed to the cost of suspension at the time the client deanimates).
After the facility is operational we anticipate charging more than $50,000 for a suspension but this cost may increase over time as a result of inflationary pressures. Obviously we will be aiming to keep costs as low as possible because we want to make the service accessible to as many people as possible but we also need to ensure the organization remains financially viable.
Any rough figures yet about how the cost will break down into life insurance payout vs ongoing fees?
As a young and fairly healthy adult I’m not really concerned about final costs (life insurance is cheap!) but as a low-income earner (at the moment) I am concerned about annual fees.
I’m afraid we don’t at this point Maelin. We probably wont have a good idea of fee structure until about a year from now.
I can say that the investors who pay $50,000 are exempt and will always be exempt from annual fees. (Though that doesn’t really answer you question).
We anticipate that most clients will finance their suspension through life insurance policies as you plan to and our aim is to make any ongoing fees as low as possible. This is partly because of an ideology of making Cryonics affordable to as many people as possible but, given the relatively small size of Australia’s population, it will be especially important to make make our services accessible to as large a cross-section of the community as we can.
When we have a better idea of the fee structure we’ll certainly let you and others know.