Automatic Crediting for Long Term Care Insurance Based on Interest Credits and Insurance Credits

摘要

Excess returns on a portfolio that funds an LTC insurance policy may be shared with policyholders by determining an excess return for the portfolio, automatically determining interest credits for a policyholder based on the excess return, automatically determining insurance credits for the policyholder based on previous period gains or losses of the long-term care insurance policy and apportioned to individual policyholders, automatically determining potential earnings credits for the policyholder based on the determined interest credits and insurance credits, and automatically providing a benefit to the policyholder and updating a policyholder record maintained in a tangible non-transitory computer-readable storage based on the determined potential earnings credits.

主权项

1. A long-term care insurance system for automatic crediting for a long-term care insurance policy, the long-term care insurance policy associated with a portfolio having a portfolio rate of return in a given plan period and/or gains/losses arising from insurance experience such as morbidity, mortality, and lapse, the system comprising:
a policyholder records storage; a plan parameters storage; and a LTC insurance policy processor coupled to the policyholder records storage and the plan parameters storage, the LTC insurance policy processor configured to determine an excess return based on the portfolio rate of return, automatically determine interest credits for a policyholder based on the excess return and information from the policyholder records storage and the plan parameters storage, automatically determine insurance credits for the policyholder based on apportioning previous period insurance gains or losses of the long-term care insurance policy, automatically determine potential earnings credits for the policyholder based on the determined interest credits and insurance credits, and automatically provide a benefit to the policyholder and update a policyholder record in the policyholder records storage based on the determined potential earnings credits.