SYSTEM AND METHOD FOR FLEXIBLE TERM RIDERS FOR RISK MANAGEMENT PRODUCTS
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United States of America Patent
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Issued Date -
Jul 4, 2013
app pub date -
Dec 21, 2012
filing date -
Dec 29, 2011
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Abstract
The present disclosure comprises a method implemented on a program-controlled computer processor and a system for generating and processing life insurance policies with a whole life component and a term life component. In one embodiment, the system will provide a rider (or “flex term rider”) for whole life policies that allows the initial policy to be blended with term life insurance. The percentage of the term life coverage may vary; for example, 50% of the coverage can be term life insurance. The lower the percentage of term life in the product blend, the higher the premiums will be.
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