Apparatus, systems and methods for providing investment performance enhanced life insurance products

A method of providing an insurance product, comprising:

• a) receiving at least one application, each application associated with an applicant and including personal, medical and financial information about the applicant;
• b) determining for each application if the applicant qualifies as an insured customer based on the personal, medical and financial information;
• c) defining an account record associated with each insured customer, each account record having:
• i. at least one insured event associated with that insured customer;
• ii. a benefit amount payable in association with the at least one insured event;
• iii. an insurance cost;
• and
• iv. a cash value based on predetermined account record factors;
• d) defining a reserve fund based on a sum of the benefit amounts for each of the insured customers;
• e) determining an investment performance associated with the reserve fund during at least one period of time;
• and
• f) calculating a performance credit amount for each insured customer based on the investment performance of the reserve fund and the cash value in the account record for that insured customer.

A physical computer readable medium including computer executable instructions which, when executed on a computing device, cause the computing device to:

• a) receive at least one application, each application associated with an applicant and including personal, medical and financial information about the applicant;
• b) for each application, determine if the applicant qualifies as an insured customer based on the personal, medical and financial information;
• c) define an account record associated with each insured customer, each account record having:
• i. at least one insured event associated with that insured customer;
• ii. a benefit amount payable in association with the at least one insured event;
• iii. an insurance cost to be received from that insured customer;
• and
• iv. a cash value based on predetermined account record factors;
• d) define a reserve fund based on a sum of the benefit amounts for each of the insured customers;
• e) determine an investment performance associated with the reserve fund during at least one period of time;
• and
• f) calculate a performance credit amount for each insured customer based on the investment performance of the reserve fund and the cash value in the account record for that insured customer.