Universal payment protection
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United States of America Patent
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May 21, 2013
Grant Date -
N/A
app pub date -
Dec 23, 2009
filing date -
May 27, 2005
priority date (Note) -
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status (Latency Note)
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Abstract
A system for and method of providing payment protection upon the occurrence of trigger events. The system and method include an account, which may be associated with a credit card or other financial product. An accountholder may select trigger events and associated benefits. Upon the occurrence of a trigger event, the issuing entity will evaluate whether the accountholder is entitled to receive an associated benefit. Each benefit is intended to address at least one payment obligation. For example, an account may include payment protection in the form of automatic payment of minimum monthly credit card fees should the accountholder involuntarily become unemployed.
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