LIFE INSURANCE FUNDED HEROIC MEDICAL EFFORTS TRUST FEATURE
First Claim
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1. A computer implemented method of providing coverage for life extending expenses in a life insurance policy, the computer implemented method comprising:
- determining a cost of a feature associated with funds for use in paying for life extending expenses of an insured individual related to at least one life-expectancy reducing event, wherein the feature is to be associated with a life insurance policy of the insured individual, wherein the life insurance policy includes a coverage period and a death benefit, and wherein the funds provided by the feature for use in paying for the life extending expenses is greater than any offset of the death benefit under the life insurance policy caused by the feature; and
associating the feature with the life insurance policy, wherein the feature provides encouragement to prolong the life of the insured individual and delay payment of the death benefit.
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Abstract
Provided herein are processes, including a computer implemented process, and an apparatus for making financial resources available for the treatment, medication, and other life extending expenses of life-expectancy reducing situations through life insurance policies. Also provided herein is medical network to provide up to date, accurate, and credible data related to life-expectancy reducing situations when time is of the essence.
59 Citations
39 Claims
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1. A computer implemented method of providing coverage for life extending expenses in a life insurance policy, the computer implemented method comprising:
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determining a cost of a feature associated with funds for use in paying for life extending expenses of an insured individual related to at least one life-expectancy reducing event, wherein the feature is to be associated with a life insurance policy of the insured individual, wherein the life insurance policy includes a coverage period and a death benefit, and wherein the funds provided by the feature for use in paying for the life extending expenses is greater than any offset of the death benefit under the life insurance policy caused by the feature; and associating the feature with the life insurance policy, wherein the feature provides encouragement to prolong the life of the insured individual and delay payment of the death benefit. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. An apparatus, comprising:
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a memory; at least one hardware based processor; and program code resident in the memory and configured to be executed by the at least one processor to provide coverage for life extending expenses in a life insurance policy by determining a cost of a feature associated with funds for use in paying for life extending expenses of an insured individual related to at least one life-expectancy reducing event, wherein the feature is to be associated with a life insurance policy of the insured individual, wherein the life insurance policy includes a coverage period and a death benefit, and wherein the funds provided by the feature for use in paying for the life extending expenses is greater than any offset of the death benefit under the life insurance policy caused by the feature; and associating the feature with the life insurance policy, wherein the feature provides encouragement to prolong the life of the insured individual and delay payment of the death benefit. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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27. A method of providing coverage for life extending expenses in a life insurance policy, the method comprising:
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determining a cost of a feature associated with funds for use in paying for life extending expenses of an insured individual related to at least one life-expectancy reducing event, wherein the feature is to be associated with a life insurance policy of the insured individual, wherein the life insurance policy includes a coverage period and a death benefit, and wherein the funds provided by the feature for use in paying for the life extending expenses is greater than any offset of the death benefit under the life insurance policy caused by the feature; and associating the feature with the life insurance policy, wherein the feature provides encouragement to prolong the life of the insured individual and delay payment of the death benefit. - View Dependent Claims (28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38)
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39. A method of providing coverage for life extending expenses in a life insurance policy, the method comprising:
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associating with a life insurance policy a feature associated with funds for use in paying for life extending expenses of an insured individual related to at least one life-expectancy reducing event, wherein the life insurance policy includes a coverage period and a death benefit, and wherein the funds provided by the feature for use in paying for the life extending expenses is greater than any offset of the death benefit under the life insurance policy caused by the feature; and in response to a life-expectancy reducing event, dispensing funds to the insured individual under the feature and prior to the insured individual'"'"'s death for use in paying for life extending expenses, wherein the feature provides encouragement to prolong the life of the insured individual and delay payment of the death benefit.
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Specification