Methods and systems for providing life insurance

摘要

Life insurance methods, systems and products are provided that incorporate a fixed account, a separate account, and under specified circumstances a death benefit. One embodiment of a method for providing life insurance policy includes: providing a fixed account for receiving a portion of premiums allocated to the fixed account and providing a separate account for receiving a portion of premiums allocated to the separate account. The separate account allows a policy owner to manage investments in a plurality of investment options. If the policy meets a safety test, the method guarantees the death benefit without withdrawing more than a specified percentage of specified charges from the separate account to fund the guaranteed death benefit.

主权项

1. A computer-implemented method for providing a life insurance policy, the method comprising:
storing by computer memory death benefit data identifying a death benefit provided in exchange for recurring charges associated with the death benefit, wherein the death benefit provides for a payout upon death of a party covered by the life insurance policy; storing by the computer memory allocation data identifying a portion of premiums to allocate to a fixed account associated with the life insurance policy, wherein a rate of return on the fixed account is guaranteed to never be less than a specified rate; storing by the computer memory allocation data identifying a portion of premiums to allocate to a separate account, wherein the separate account allows a policy owner to manage investments in one or more investment options and wherein a rate of return on the separate account depends on performance of the one or more investment options selected by the policy owner; upon receipt of a premium associated with the life insurance policy, allocating by a data processor executing computer program instruction a portion of the premium to the fixed account that is identified by the allocation data for the fixed account and a portion of the premium to the separate account that is identified by the allocation data for the separate account; and upon occurrence of a charge associated with the death benefit on the life insurance policy: determining by the data processor whether a value of the fixed account is has sufficient funds to cover the charge associated with the death benefit; determining by the data processor whether the life insurance policy meets a safety test, where determining whether the life insurance policy meets the safety test comprises confirming by the data processor that: during a no-lapse period, a minimum premium requirement is met; and a guaranteed death benefit (GDB) measure is positive; and when the value of the fixed account does not have sufficient funds to cover the charge associated with the death benefit, and when the policy meets the safety test, maintaining the life insurance policy in force by the data processor and guaranteeing the death benefit without withdrawing more than a specified percentage of the charge from the separate account to fund the guaranteed death benefit, wherein the specified percentage is less than 50%, wherein a monetary value of the separate account does not affect the maintaining of the life insurance policy in force and the guaranteeing of the death benefit.