Benefits Contract Providing a Bundle of Benefits
First Claim
1. A method for providing a benefits contract comprising:
- receiving a tax-free transfer of funds from a tax-deferred retirement account; and
establishing a benefits account in response to the received transfer of funds, the benefits account comprising a plurality of units, each unit associated with three or more benefits from the group of benefits consisting of;
a life insurance;
a health care insurance;
a supplemental health care insurance;
a long-term care insurance;
a short-term disability insurance;
a long-term disability insurance;
a prescription drug insurance;
a plurality of income payments;
a withdrawal benefit; and
a property and casualty benefit;
wherein a person associated with the benefits contract may choose to exercise a particular unit, or fraction thereof, to receive only one of the three or more benefits.
1 Assignment
0 Petitions
Accused Products
Abstract
According to one embodiment of the invention, a benefits contract includes an agreement to provide a plurality of benefits for at least one person. The agreement provides for an account including a plurality of units. Each unit is associated with multiple benefits. For example each unit may be associated with multiple benefits such as life insurance, health insurance, supplemental health insurance, long-term care insurance, short-term disability insurance, long-term disability insurance, prescription drug insurance, a plurality of income payments, a withdrawal benefit, an annuity, a property and casualty benefit, or other similar benefits. The agreement is such that a person associated with the benefits contract may choose to exercise a particular unit, or fraction thereof, to receive only one of the three or more benefits; and such that the benefits account (or plurality of units) may be purchased tax-free using funds from a tax-deferred retirement account.
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Citations
22 Claims
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1. A method for providing a benefits contract comprising:
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receiving a tax-free transfer of funds from a tax-deferred retirement account; and
establishing a benefits account in response to the received transfer of funds, the benefits account comprising a plurality of units, each unit associated with three or more benefits from the group of benefits consisting of;
a life insurance;
a health care insurance;
a supplemental health care insurance;
a long-term care insurance;
a short-term disability insurance;
a long-term disability insurance;
a prescription drug insurance;
a plurality of income payments;
a withdrawal benefit; and
a property and casualty benefit;
wherein a person associated with the benefits contract may choose to exercise a particular unit, or fraction thereof, to receive only one of the three or more benefits. - View Dependent Claims (2)
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3. A benefits contract comprising:
an agreement to provide a plurality of benefits for at least one person, the agreement providing for;
a benefits account comprising a plurality of units, each unit associated with three or more benefits from the group of benefits consisting of;
a life insurance;
a health care insurance;
a supplemental health care insurance;
a long-term care insurance;
a short-term disability insurance;
a long-term disability insurance;
a prescription drug insurance;
a plurality of income payments;
a withdrawal benefit; and
a property and casualty benefit;
wherein a person associated with the benefits contract may choose to exercise a particular unit, or fraction thereof, to receive only one of the three or more benefits; and
wherein the benefits account (or the plurality of units) may be purchased tax-free using funds from a tax-deferred retirement account. - View Dependent Claims (4)
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5. A benefits contract comprising:
an agreement to provide a plurality of benefits for at least one person, the agreement providing for;
an account comprising a plurality of units, wherein at least some of the units (or fractions thereof) may be exercised at the discretion of an account holder according to the terms of the agreement, such that upon exercising the unit (or fraction thereof) a beneficiary will receive one of a plurality of benefits associated with the unit; and
a guarantee that a value will be transferred to a beneficiary designated by the account holder upon the death of the account holder, the value being based upon the units in the account that were not exercised by the account holder before the account holder'"'"'s death;
wherein the plurality of benefits associated with the unit comprises one or more from the first group consisting of;
a plurality of income payments; and
a withdrawal benefit; and
wherein the plurality of benefits associated with the unit further comprises one or more from the second group consisting of;
a disability insurance;
a long-term care insurance;
a prescription drug coverage;
a health care coverage; and
a supplemental health care coverage.
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6. A benefits contract comprising:
an agreement to provide a plurality of benefits for at least one person, the agreement providing for;
a plurality of benefits for an individual, the plurality of benefits comprising three or more from the group consisting of;
a life insurance;
a health care insurance;
a supplemental health care insurance;
a long-term care insurance;
a short-term disability insurance;
a long-term disability insurance;
a prescription drug insurance;
a plurality of income payments;
a withdrawal benefit; and
a property and casualty benefit wherein at least one of the plurality of benefits comprise a coverage period comprising a start date; and
wherein there is a delay between the coverage period start date for the at least one of the plurality of benefits and the coverage period start date for a second one of the plurality of benefits. - View Dependent Claims (7, 8, 9, 10)
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11. A benefits contract comprising:
an agreement to provide a plurality of benefits for an individual, such that;
each of the plurality of benefits comprises a different type of benefit;
at least one of the plurality of benefits comprise a coverage period comprising a start date; and
there is a delay between the coverage period start date for the at least one of the plurality of benefits and the coverage period start date for a second one of the plurality of benefits. - View Dependent Claims (12)
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13. A benefits contract comprising:
an agreement to provide a plurality of benefits for a plurality of individuals, such that;
each of the plurality of benefits comprises a different type of benefit;
at least one of the plurality of benefits comprise a coverage period comprising a start date; and
there is a delay between the coverage period start date for the at least one of the plurality of benefits and the coverage period start date for a second one of the plurality of benefits. - View Dependent Claims (14, 15, 16)
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17. A method for providing a benefits contract, the method comprising:
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receiving a tax-free transfer of funds from a tax-deferred retirement account;
establishing a benefits contract identifier for a benefits contract in response to the received transfer of funds, the benefits contract comprising;
an agreement to provide a plurality of benefits for an individual, the agreement providing for;
a plurality of units, each unit representing three or more benefits from the group of benefits consisting of;
a life insurance;
a health care insurance;
a supplemental health care insurance;
a long-term care insurance;
a short-term disability insurance;
a long-term disability insurance;
a prescription drug insurance;
a plurality of income payments;
a withdrawal benefit; and
a property and casualty benefit;
wherein a person associated with the benefits contract may choose to exercise a particular unit, or fraction thereof, to receive only one of the three or more benefits; and
wherein for each unit, only one of the three or more benefits may be exercised;
determining a quantity of units associated with the benefits contract; and
generating a report comprising the identifier for the benefits contract and the quantity of units associated with the benefits contract;
wherein at least one of the above actions is performed using a computer.
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18. A benefits contract management system, comprising:
- software stored on a computer-readable medium and operable to calculate a fee for a benefits contract, the benefits contract comprising;
an agreement to provide a plurality of benefits for an individual, such that;
each of the plurality of benefits comprises a different type of benefit;
at least one of the plurality of benefits comprise a coverage period comprising a start date; and
there is a delay between the coverage period start date for the at least one of the plurality of benefits and the coverage period start date for a second one of the plurality of benefits.
- software stored on a computer-readable medium and operable to calculate a fee for a benefits contract, the benefits contract comprising;
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19. A benefits contract comprising:
an agreement to provide;
a plurality of electable benefits, such that at least one of the electable benefits may only be elected during an election period; and
an account comprising one or more units, each unit being associated with the plurality of benefits and each unit being exercisable to elect only one of the plurality of benefits per unit. - View Dependent Claims (20, 21, 22)
Specification