Method and apparatus for a lifetime security and protection scheme

Apparatus to facilitate managing a dual purpose profit sharing plan cooperating with a pension plan as a lifetime security and protection scheme, the apparatus including:

• a computer system comprising a digital computer processor to process input data into output data, the processor in communication with an input device, to receive the input data, and to an output device, to output the output data, said processor programmed so as to facilitate managing a lifetime security and protection scheme where such scheme is implemented by a cooperating entity to enable the use of a dual purpose profit sharing plan cooperating with a pension plan such that money in the dual purpose profit sharing plan funds lifetime benefits for a cooperative member and a sharing arrangement provides the cooperative member with lifetime security and protection, by operations including:
• receiving, as some of the input data at the input device, the value in an account of the dual purpose profit sharing plan for the support of retirement income and the value in another account of the dual purpose profit sharing plan for the support of health care;
• receiving, as some of the input data at the input device, demographic, health status, and payout selections for the cooperative member;
• receiving, as some of the input data at the input device, risk factors to provide security and protection preretirement to cover one or more risks such as death, disability, or hardship;
• calculating a lifetime retirement income amount and a pension health account amount from the input data that is provided by the cooperating entity;
• producing, as some of said output data at said output device, the lifetime retirement income amount and the pension health account amount.

A method of using an apparatus, the method including the steps of:

• controlling a computer system comprising a digital computer processor to process input data into output data, the processor in communication with an input device, to receive the input data, and to an output device, to output the output data, said processor programmed so as to facilitate managing a dual purpose profit sharing plan cooperating with an accountable care organization where money in a cooperative member's incidental account of a dual purpose profit sharing plan purchases life insurance with such insurance provided as collateral to an accountable care organization, by operations including:
• receiving, as some of the input data at the input device, a health care treatment plan option, a fee for service amount payable for the treatment option and a projected health status;
• calculating projected assumptions for the projected health status;
• under the projected assumptions calculating a series, consisting of at least one compensation fee amount, that is actuarially equivalent to the received fee for service amount;
• producing, as some of said output data at said output device, the series.