System and method for providing a reward

A method for providing a reward associated with a reward insurance coverage claim, comprising:

• receiving, via a network, the reward insurance coverage claim from an individual, the reward insurance coverage claim requesting coverage for a loss of a reward that was redeemed for a good or service, the reward insurance coverage claim being associated with reward insurance offered to the individual according to a determination of whether to offer the insurance coverage based on information associated with an account of the individual having an associated reward and according to one of a plurality of options, the options including offering the insurance coverage at no cost to the individual, and the options including offering the insurance coverage in exchange for at least one reward unit,
• determining, on at least one processing unit of a computer, whether the reward is insured;
• determining, on the at least one processing unit, whether the loss is a qualified loss;
• and
• reissuing at least a portion of the reward if the loss is insured and the loss is determined to be qualified, wherein the reissuing includes storing, in a memory unit, the at least a portion of the reward that is reissued in an account associated with the individual.

A system for insuring a reward of an individual, comprising:

• at least one processing unit and at least one memory unit, wherein the processing unit is configured to:
• process information associated with an account of the individual having an associated reward, the reward being redeemable for a good or service;
• and
• determine whether to offer insurance coverage for the reward based upon the information, the insurance coverage operable for reissuing at least a portion of the reward after the reward is redeemed for the good or service and after a qualified loss occurs in relation to the good or service,
• wherein the determining of whether to offer insurance coverage includes determining whether to offer the insurance coverage according to one of a plurality of options, the options including offering the insurance coverage at no cost to the individual, and the options including offering the insurance coverage in exchange for at least one reward unit earned by the individual.