Apparatus, systems and methods for providing investment performance enhanced life insurance products
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United States of America Patent
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Sep 27, 2011
Grant Date -
Feb 4, 2010
app pub date -
Aug 1, 2008
filing date -
Aug 1, 2008
priority date (Note) -
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Abstract
A system for providing an insurance product for at least one insured customer, including a communication device for receiving at least one application, each application associated with an applicant and including information about the applicant, a processor configured to determine for each application if the applicant qualifies as an insured customer, and a memory configured for storing an account record associated with each insured customer having at least one insured event associated with that insured customer, a benefit amount payable in association with the at least one insured event, an insurance cost, and a cash value based on predetermined account record factors, wherein the processor may define a reserve fund, determine an investment performance associated with the reserve fund during at least one period of time, and calculate a performance credit amount based on the investment performance of the reserve fund and the cash value.
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