Family protection insurance method and system

A computer implemented method of providing life insurance relating to family planning, the method comprising:

• underwriting a term life insurance policy for two adults for a first policy amount, where the policy is written for a range between a minimum limit and a maximum limit and insures each of a plurality of children at no additional cost;
• a plurality of predefined time intervals from the writing of the policy, increasing the policy amount by incremental units without any additional underwriting, increasing the term life insurance policy to an upper limit;
• and
• at one or more times during the term of the policy, converting at least a portion of the policy amount to permanent insurance.

A computer program product for use in a computer system that executes program steps recorded on one or more computer readable media to perform a method for providing a stream of future benefit payments to a designated beneficiary, the computer program product comprising:

• one or more computer readable media;
• one or more computer programs of computer readable instructions executable by the computer system to perform method steps comprising:
• underwriting a term life insurance policy for two adults for a first policy amount;
• at a predefined time interval, increasing the policy amount by at least one of a plurality of incremental unit without any additional underwriting, wherein the increase is to an upper limit;
• and
• during the during the term of the policy, converting at least a portion of the policy amount to permanent insurance.