Life insurance products under a single approved form
AssigneeM Financial Group
InventorGabriel R. Schiminovich
Life of this patent
Estimating the term…
Abstract
A system and method for generating life insurance products under a single approved form. In one aspect, a system and method are provided for determining a premium schedule by selecting a death benefit; targeting a projected balance of an account associated with the product; designating at least one premium band; generating, in response to a deferral determination for at least one premium-based charge for at least one premium band, factors for allocating charges associated with the product; and calculating the premium schedule. In another aspect, a system and method are provided for determining a death benefit, and in another aspect, a system and method are provided for determining a projected balance of an account associated with a life insurance product.
Claims3
A method for determining a premium schedule for a life insurance product under a single regulatory-approved form comprising:
- (a) selecting a death benefit;
- (b) targeting a projected balance of an account associated with the product;
- (c) designating at least one premium band;
- (d) generating, in response to a deferral determination for at least one premium-based charge for at least one premium band, factors for allocating charges associated with the product;
- and
- (e) calculating, responsive to steps (a) through (d), the premium schedule.
A method for determining a death benefit for a life insurance product under a single regulatory-approved form comprising:
- (a) selecting a premium;
- (b) targeting a projected balance of an account associated with the product;
- (c) designating at least one premium band;
- (d) generating, in response to a deferral determination for at least one premium-based charge for at least one premium band, factors for allocating charges associated with the product;
- and
A method for determining a projected balance of an account associated with a life insurance product under a single regulatory-approved form comprising:
- (a) choosing a death benefit;
- (b) selected a premium;
- (c) designating at least one premium band;
- (d) generating, in response to a deferral determination for at least one premium-based charge for at least one premium band, factors for allocating charges associated with the product;
- and
Dependencies are inferred from the claim text.