CREDIT CARD PROVIDING ENHANCED BENEFITS, METHOD AND SYSTEM FOR USING SAME
First Claim
1. A credit card used pursuant to a contract between the card issuer and a card-holder to pay for an insurance product covering the card-holder, wherein the contract permits the card-holder to pay for premiums on the insurance product using the credit card, and wherein the contract permits the card issuer to waive any requirement that the card-holder pay any deductible that might otherwise be required on the insurance product.
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Accused Products
Abstract
A credit card that enables card-holders to pay for premiums on the insurance product using the credit card, while avoiding the need to pay deductibles on the insurance product (which may be used to cover auto, home, liability or health). Entities such as those underwriting the insurance product, self-insuring credit card issuers, or third-party financial institutions, may pay the deductibles. A method for using the credit card also forms a part of the invention. A website may be provided to enable card-holders to select among various insurance products, and to facilitate credit card payments by the card-holders. Computers may be used by the various involved parties to compute break-even profit points, deductibles, lowered credit card interchange fees, etc.
31 Citations
21 Claims
- 1. A credit card used pursuant to a contract between the card issuer and a card-holder to pay for an insurance product covering the card-holder, wherein the contract permits the card-holder to pay for premiums on the insurance product using the credit card, and wherein the contract permits the card issuer to waive any requirement that the card-holder pay any deductible that might otherwise be required on the insurance product.
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5. A method for obtaining insurance using a credit card, comprising the steps of:
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a credit card-holder purchasing one or more insurance products by using the credit card, wherein the issuer of the credit card has earlier agreed that as an inducement for such transaction, the deductible on the one or more insurance products need not be paid by the card-holder; and an entity other than the card-holder paying the deductible on the one or more insurance products. - View Dependent Claims (6, 7, 8, 9)
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10. A method for obtaining insurance using a credit card, comprising the steps of:
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a credit card-holder or its agent using one or more computers to perform an analysis to confirm the profitability of supplying the credit cards for use by card-holders; purchasing an insurance product by using the credit card, wherein the issuer of the credit card has earlier agreed that as an inducement for such transaction, the deductible on the insurance product need not be paid by the card-holder; and an entity other than the card-holder paying the deductible on the insurance product. - View Dependent Claims (11, 12)
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13. A method for obtaining insurance using a credit card, comprising the steps of:
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a credit card issuer reaching agreement with an underwriter of insurance or its agent concerning terms and conditions for the use of the credit card to purchase one or more insurance products; a credit card-holder or its agent using one or more computers to compute deductible amounts to be waived for the one or more insurance products; and the card-holders purchasing the one or more insurance products using the credit card, wherein the issuer of the credit card has earlier agreed that the deductible on the insurance product need not be paid by the card-holder. - View Dependent Claims (14, 15)
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16. A method for obtaining insurance using a credit card, comprising the steps of:
providing a website enabling card-holders of the credit card to pay for the purchase of one or more insurance products by using the credit card, wherein the issuer of the credit card has earlier agreed that as an inducement for such transactions, the deductibles on the one or more insurance products need not be paid by the card-holders. - View Dependent Claims (17, 18, 19, 20, 21)
Specification