# US 8,788,294 B2 · Products and processes for indicating documents for a life based product

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- Number: US 8,788,294 B2
- Document ID: US8788294B2
- Status: Granted
- Kind: B2
- Application number: 11/847,982
- Filed: 2007-08-30
- Published: 2008-07-31
- Granted: 2014-07-22
- Earliest claimed: 2006-08-30
- Assignees: Cfph, LLC
- Applicants: Howard W. Lutnick; Stuart A. Hersch; Laurence Rose
- Inventors: Howard W. Lutnick; Stuart A. Hersch; Laurence Rose
- Web page: https://patentgrep.com/patent/US8788294B2

## CPC

- G06Q 40/08: Insurance
- G06Q 50/18: Legal services
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR

## Abstract

A method comprising receiving at least one document that is associated with a life insurance policy; assigning a respective value to each of the at least one document, in which the value indicates a level of importance; determining a summation of the at least one document; determining an indication for the life insurance policy, in which the indication is based on the summation of the at least one document and at least one of the values; and displaying the indication.

## Claims

### Claim 1

A method comprising
receiving via a processor an indication that an insured intends to sell a life insurance policy in exchange for a settlement amount;
transmitting to a remote device a request for at least one document that supports that the life insurance policy, in which the remote device and the processor are in communication over a network;
receiving via the processor, in response to the request, the at least one document that supports the life insurance policy;
determining a respective quality for each received document based on at least one of: a source of the document, a type of the document, and a pre-determined level of importance of the document;
determining via the processor a quantity of documents received in response to the request;
assigning via the processor, based on the quantity of documents received and the quality of each received document, a rating to the life insurance policy, in which the rating affects the settlement amount; and
displaying the rating that is assigned to the life insurance policy.

### Claim 2 (depends on 1)

The method of claim 1 further comprising:
transmitting a request to authenticate at least one received document; and
receiving an authentication of the at least one received document.

### Claim 3 (depends on 1)

The method of claim 1, in which the act of determining the respective quality of each received document further comprising:
determining the quality based on a decision tree.

### Claim 4 (depends on 1)

The method of claim 1, in which the act of displaying the rating further comprises:
displaying a color that is based on the rating.

### Claim 5 (depends on 4)

The method of claim 4, in which the act of displaying a color further comprises:
assigning a respective color based on each rating, in which a first color corresponds to a first rating and a second color corresponds to a second rating, in which the first rating and the second rating are different.

### Claim 6 (depends on 4)

The method of claim 4, in which the color corresponds to the quantity of documents received.

### Claim 7 (depends on 4)

The method of claim 4, in which the color corresponds to a marketability of the life insurance policy.

### Claim 8 (depends on 1)

The method of claim 1, further comprising:
storing the received documents, the determined quality and the rating into a database that comprises policy information for a plurality of available life insurance policies.

### Claim 9 (depends on 8)

The method of claim 8 further comprising:
receiving at least one search criterion from a purchaser;
searching the database for at least one life insurance policy that matches the at least one search criterion;
retrieving the at least one life insurance policy that matches the at least one search criterion; and
displaying the at least one retrieved life insurance policy.

### Claim 10 (depends on 1)

The method of claim 1, in which a purchaser of the life insurance policy assumes payment of the life insurance policy until death of the insured.

### Claim 11 (depends on 1)

The method of claim 1, in which a purchaser of the insurance policy is listed as a beneficiary of the life insurance policy in exchange for payment of the settlement amount to the insured.

### Claim 12

An apparatus comprising:
a processor; and
a memory, in which the memory stores instructions which, when executed by the processor, direct the processor to:
receive an indication that an insured intends to sell a life insurance policy in exchange for a settlement amount;
transmit a request for at least one document that supports that the life insurance policy, in which the remote device and the processor are in communication over a network;
receive, in response to the request, the at least one document that supports the life insurance policy;
determine a respective quality for each received document based on at least one of: a source of the document, a type of the document, and a pre-determined level of importance of the document;
determiner a quantity of documents received in response to the request;
assign, based on the quantity of documents received and the quality of each received document, a rating to the life insurance policy, in which the rating affects the settlement amount; and
display the rating that is assigned to the life insurance policy.

### Claim 13 (depends on 12)

The apparatus of claim 12, in which the memory stores instructions which, when executed by the processor, further direct the processor to:
transmit a request to authenticate at least one received document; and
receive an authentication of the at least one received document.

### Claim 14 (depends on 12)

The apparatus of claim 12, in which the act of determining the respective quality of each received document further comprising:
determining the quality based on a decision tree.

### Claim 15 (depends on 12)

The apparatus of claim 12, in which the act of displaying the rating further comprises:
displaying a color that is based on the rating.

### Claim 16 (depends on 15)

The apparatus of claim 15, in which the act of displaying a color further comprises:
assigning a respective color based on each rating, in which a first color corresponds to a first rating and a second color corresponds to a second rating, in which the first rating and the second rating are different.

### Claim 17 (depends on 15)

The apparatus of claim 15, in which the color corresponds to the quantity of documents received.

### Claim 18 (depends on 15)

The apparatus of claim 15, in which the color corresponds to a marketability of the life insurance policy.

### Claim 19 (depends on 12)

The apparatus of claim 12, in which the memory stores instructions which, when executed by the processor, further direct the processor to:
store the received documents, the determined quality and the rating into a database that comprises policy information for a plurality of available life insurance policies.

### Claim 20 (depends on 19)

The apparatus of claim 19, in which the memory stores instructions which, when executed by the processor, further direct the processor to:
receive at least one search criterion from a purchaser;
search the database for at least one life insurance policy that matches the at least one search criterion;
retrieve the at least one life insurance policy that matches the at least one search criterion; and
display the at least one retrieved life insurance policy.

### Claim 21 (depends on 19)

The apparatus of claim 19, in which a purchaser of the life insurance policy assumes payment of the life insurance policy until death of the insured.

### Claim 22 (depends on 19)

The apparatus of claim 19, in which a purchaser of the insurance policy is listed as a beneficiary of the life insurance policy in exchange for payment of the settlement amount to the insured.

### Claim 23

An article of manufacture comprising:
a storage medium, in which the storage medium stores instructions which, when executed by a processor, direct the processor to:
receive an indication that an insured intends to sell a life insurance policy in exchange for a settlement amount;
transmit a request for at least one document that supports that the life insurance policy, in which the remote device and the processor are in communication over a network;
receive, in response to the request, the at least one document that supports the life insurance policy;
determine a respective quality for each received document based on at least one of: a source of the document, a type of the document, and a pre-determined level of importance of the document;
determiner a quantity of documents received in response to the request;
assign, based on the quantity of documents received and the quality of each received document, a rating to the life insurance policy, in which the rating affects the settlement amount; and
display the rating that is assigned to the life insurance policy.

### Claim 24 (depends on 23)

The article of manufacture of claim 23, in which the storage medium stores instructions which, when executed by the processor, further direct the processor to:
transmit a request to authenticate at least one received document; and
receive an authentication of the at least one received document.

### Claim 25 (depends on 23)

The article of manufacture of claim 23, in which the act of determining the respective quality of each received document further comprising:
determining the quality based on a decision tree.

### Claim 26 (depends on 23)

The article of manufacture of claim 23, in which the act of displaying the rating further comprises:
displaying a color that is based on the rating.

### Claim 27 (depends on 26)

The article of manufacture of claim 26, in which the act of displaying a color further comprises:
assigning a respective color based on each rating, in which a first color corresponds to a first rating and a second color corresponds to a second rating, in which the first rating and the second rating are different.

### Claim 28 (depends on 26)

The article of manufacture of claim 26, in which the color corresponds to the quantity of documents received.

### Claim 29 (depends on 26)

The article of manufacture of claim 26, in which the color corresponds to a marketability of the life insurance policy.

### Claim 30 (depends on 23)

The article of manufacture of claim 23, in which the storage medium stores instructions which, when executed by the processor, further direct the processor to:
store the received documents, the determined quality and the rating into a database that comprises policy information for a plurality of available life insurance policies.

### Claim 31 (depends on 30)

The article of manufacture of claim 30, in which the storage medium stores instructions which, when executed by the processor, further direct the processor to:
receive at least one search criterion from a purchaser;
search the database for at least one life insurance policy that matches the at least one search criterion;
retrieve the at least one life insurance policy that matches the at least one search criterion; and
display the at least one retrieved life insurance policy.

### Claim 32 (depends on 23)

The article of manufacture of claim 23, in which a purchaser of the life insurance policy assumes payment of the life insurance policy until death of the insured.

### Claim 33 (depends on 23)

The article of manufacture of claim 23, in which a purchaser of the insurance policy is listed as a beneficiary of the life insurance policy in exchange for payment of the settlement amount to the insured.