ViatiCare and Cargill Form Historic $600 Million Funding Alliance for Terminally Ill Americans

Strategic Insights -

A groundbreaking partnership between ViatiCare Financial Services, L.L.C., and Cargill Financial Services Corp. will grant ViatiCare a minimum funding capacity of $600 million over five years, revolutionizing the way terminally ill Americans access financial services. This collaboration has the potential to significantly improve the quality of life for thousands of individuals with limited life expectancies, who often find themselves underserved by the financial services industry.

Key Takeaways:

  • ViatiCare and Cargill have signed a historic agreement, providing ViatiCare with a minimum funding capacity of $600 million over five years.
  • This partnership is unprecedented in the viatical settlement business, with estimates suggesting a potential market size of $4 billion by the year 2000.
  • Viatical settlement converts life insurance policies of individuals with limited life expectancies into cash, providing financial liquidity to those often denied other viable financial choices.
  • Robert Moe, ViatiCare's CEO and CFO, emphasized the importance of this alliance in improving the quality of life for terminally ill Americans.
  • The partnership is led by Adam Tillis, a vice president and PLWA (person living with AIDS), who co-founded ViatiCare in 1993 to provide quality financial services to terminally ill individuals.
  • Cargill Financial Services Corp. is a subsidiary of Cargill, Inc., a 130-year-old, privately held company with revenues exceeding $51 billion for the fiscal year ending May 31, 1995.

Statistics:

  • Market potential for viatical settlement services in the United States: $4 billion by the year 2000 (estimated by the Centers for Disease Control).
  • Funding capacity granted to ViatiCare: $600 million over five years.
  • Revenues of Cargill, Inc. for the fiscal year ending May 31, 1995: over $51 billion.
  • Number of employees at Cargill: 73,000.
  • Countries where Cargill operates: 66.

Sources:

  • Centers for Disease Control
  • ViatiCare Financial Services, L.L.C.
  • Cargill Financial Services Corp.
  • Cargill, Inc.