Single premium term life insurance

Abstract

A method for generating a life insurance policy comprises the step of selecting an amount of a death benefit that is payable upon the death of an individual. The method may further comprise the steps of gathering prescription drug history and comparing the prescription drug history of the individual to that of a group having a substantially similar or similar prescription drug history. The method may additionally include the step of correlating a mortality rate from the equivalent prescription drug history of the group. The single premium may be based upon the death benefit amount and the mortality rate. The method may also include the steps of collecting the single premium from the individual and generating the term life insurance policy for the individual. Personal information about the applicant such as age, gender, tobacco use, etc., may also be included in the steps of generating the term life insurance policy.

Dependencies are inferred from the claim text.