Flexible varying premium option for combination products including long term care insurance

At least one non-transitory computer readable medium storing a computer program product for calculating a flexible, varying long term care insurance program as a part of a combination long term care product, the computer program product comprising:

• program code for receiving, by a computer, a plurality of input variables, comprising at least an issue age, a targeted present value and a year-to-year premium relationship;
• program code for receiving, by the computer, a plurality of process variables;
• program code for calculating, by the computer, a non-received process variable, based on received variables;
• program code for calculating, by the computer, a set of benefits and a corresponding charge schedule based on the received variables and the calculated process variable such that the calculated charge schedule varies over time but comprises at least one period during which premiums raise to a leveling point according to the year-to-year premium relationship, the calculated set of benefits and the calculated charge schedule being informed by prefunding during the at least one period during which premiums raise to a leveling point;
• and
• program code for producing a combination long term care product by coupling the calculated set of benefits and the calculated charge schedule with a life insurance program or an annuity.