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SYSTEM AND METHOD FOR PROCESSING DATA RELATED TO LAST SURVIVOR LIFE INSURANCE POLICIES

  • US 20120330687A1
  • Filed: 06/27/2011
  • Published: 12/27/2012
  • Est. Priority Date: 06/27/2011
  • Status: Active Grant
First Claim
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1. A computer system for processing data related to last survivor life insurance policies having a death benefit payable on a death of a last to die of two or more insureds, one or more associated single life policies on the lives of one or more of the insureds and having one or more ancillary benefits, comprising:

  • a data storage device storing data indicative of rates and corresponding death benefit amounts for last survivor policies and individual life insurance policies based on age and gender of insureds, and rates and available benefit amounts associated with each of the ancillary benefits;

    a user accessible device in communication with the data storage device; and

    a processor in communication with the data storage device and the user accessible device, the processor configured to;

    cause the user accessible device to prompt for face value amounts or a premium amount to be paid, age and gender of the two or more insureds, and user selection of the one or more ancillary benefits;

    receive via the user accessible device data indicative of a user selection of a premium amount or face value amounts, age and gender of the two or more insureds, and the one or more ancillary benefits;

    determine, based on the received data, face value amounts or premium amounts for a last survivor life insurance policy and the one or more individual life policies having the selected one or more ancillary benefits; and

    generate and display on the user accessible device illustrations for each of the policies.

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