Process for comprehensive financial and estate planning with life insurance product

• US 8,433,639 B2
• Filed: 03/14/2007
• Issued: 04/30/2013
• Est. Priority Date: 11/23/1999
• Status: Expired due to Fees

• Current Assignee: Future System Advisors LLC
• Original Assignee: Future System Advisors LLC
• Inventors: Desemar, Jack J Jr., Wolzenski, Bernard H
• Primary Examiner(s): Shrestha, Bijendra K
• Application Number:
  US11/686,086
• Publication Number:
  US 20070156558A1
• Time in Patent Office: 2,239 Days
• Field of Search: 705 35- 38
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A process for generating a financial and liquidity estate plan for a client and a life insurance product for use therewith. The process includes determining the client'"'"'s assets and defining a plurality of asset categories based on type and purpose of asset. The process also includes categorizing the client'"'"'s assets in the defined categories. By performing liquidity analyzes of the categorized assets, the process determines current estate liquidity and projected future estate liquidity of the client. The process further includes generating a plan for re-allocating the client'"'"'s assets among the defined categories based on the liquidity analyzes. The product defined by the process is a pre-paid, variable life insurance product having a death benefit that varies daily as a function of gains and losses on the invested cash value of the product.

Claims

1. A non-transitory computer readable storage medium having

programming instructions stored thereon, the instructions for establishing and maintaining a financial product as a life insurance product for an insured party, the programming instructions comprising:

processing an initial funding premium for said life insurance financial product;

subtracting funding charges from said initial funding premium and determining an initial cash surrender value for said life insurance financial product thereafter;

allocating said initial funding premium to one or more sub-accounts of different financial investment funds or accounts;

on a daily basis, determining account values for said different funds and accounts and calculating a corresponding cash surrender value for said life insurance financial product;

determining a life insurance base death benefit amount for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status under a net single premium method based on age declining ratio to cash value amount for said life insurance financial product and age of the insured and his/her risk classification and smoking status, said life insurance base death benefit amount increasing and decreasing based upon said corresponding cash surrender value;

deducting a cost of an at-risk insurance amount corresponding to said death benefit amount from said corresponding cash surrender value sufficient to retain life insurance status for said life insurance financial product;

maximizing the cash surrender value for said life insurance financial product by minimizing said cost of said at-risk insurance amount;

funding said life insurance financial product with additional funding premiums when payments are made and setting forth, in a schedule, said additional funding premiums, said schedule set forth in a policy established at the time said life insurance financial product is issued; and

processing said additional funding premiums set forth in said schedule without establishing insurability upon acceptance of said additional funding premiums such that each funding for said life insurance product acquires an amount of life insurance that varies with investment results over time.

2. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 1 wherein the instructions define funding of said life insurance financial product therein, effect subtraction of said funding charges and effect deduction of said cost of said at-risk insurance amount.

3. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 1 wherein determining said life insurance base death benefit amount sufficient to retain said life insurance status is correlated with retaining the tax status of life insurance under current law.

4. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 1 wherein said different financial investment funds or accounts provide earnings and including deducting, from said earnings, the cost of said at-risk insurance amount.

5. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 1 wherein subtracting said funding charges involves subtracting funding charges from the group of funding charges including a premium sales charge, a premium federal tax charge, a premium state tax charge, and premium administrative charge.

6. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 5 wherein said funding charges are subtracted prior to determining account values and calculating said corresponding cash surrender value.

7. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 1 wherein said cost of at risk insurance amount is calculated daily as a pro-rated portion of a monthly charge for the at risk amount and said cost of at risk insurance amount is deducted monthly.

8. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 1 including re-allocating said corresponding cash surrender value into other financial investment funds or accounts and thereafter determining account values and the corresponding cash surrender value.

9. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 2 wherein determining said life insurance base death benefit amount sufficient to retain said life insurance status is correlated with retaining the tax status of life insurance under current law.

10. A non-transitory computer readable storage medium having stored thereon programming instructions for establishing and maintaining a financial product as a life insurance product for an insured party, the programming instructions comprising:

processing an initial funding premium for said life insurance financial product;

determining an initial cash surrender value for said life insurance financial product by accounting for said initial funding premium allocated in one or more investment accounts;

on a daily basis, determining daily account values for said investment accounts and calculating a corresponding cash surrender value for said life insurance financial product;

determining a death benefit amount for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status under a premium method based on age declining ratio to cash value amount for said life insurance financial product, said death benefit amount increasing and decreasing based upon said corresponding cash surrender value;

deducting a cost of an at-risk insurance amount corresponding to said death benefit amount from said corresponding cash surrender value sufficient to retain said life insurance status;

maximizing the cash surrender value for said life insurance financial product by minimizing said cost of said at-risk insurance amount;

funding said life insurance financial product with additional funding premiums when payment is made and setting forth, in a schedule, said additional funding premiums, said schedule set forth in a policy established at the time said life insurance financial product is issued; and

processing said additional funding premiums set forth in said schedule without establishing insurability upon acceptance of said additional funding premiums such that each funding for said life insurance product acquires an amount of life insurance that varies with investment results over time.

11. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 10 including deducting monthly said cost of said at-risk insurance amount.

12. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 10 including determining said initial cash surrender value after accounting for initial funding charges.

13. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 12 including accounting for initial funding charges, said initial funding charges being one or more charges from the group of charges including a premium sales charge, a premium federal tax charge, a premium state tax charge, and premium administrative charge.

14. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 13 wherein said funding charges are subtracted from said initial cash surrender value prior to determining account values and calculating said corresponding cash surrender value.

15. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 10 including investing the cash surrender value of the life insurance financial product in one or more financial investment accounts, including different investment funds, and calculating the cash surrender value of the life insurance financial product as a function of gains and losses on said investment accounts and funds.

16. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 10 wherein determining said death benefit amount is determining a life insurance base death benefit amount sufficient to retain said life insurance status which status correlated with retaining the tax status of life insurance under current law.

17. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 10 wherein said investment accounts provide earnings and including deducting, from said earnings, the cost of said at-risk insurance amount.

18. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 10 wherein said cost of at risk insurance amount is calculated daily as a pro-rated portion of a monthly charge for the at risk amount and said cost of at risk insurance amount is deducted monthly.

19. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 10 including re-allocating said corresponding cash surrender value into other financial investment funds or accounts and thereafter determining account values and the corresponding cash surrender value.

20. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 10 including determining said initial cash surrender value after accounting for initial funding charges.

21. A non-transitory computer readable storage medium having programming instructions stored thereon for establishing and maintaining a financial product as a life insurance product for an insured party, the programming instructions comprising:

processing an funding initial funding premium for said life insurance financial product;

determining an initial cash surrender value for said life insurance financial product by accounting for said initial funding premium allocated in one or more investment accounts;

on a daily basis and upon fluctuation of said investment accounts, determining account values for said investment accounts and calculating a corresponding cash surrender value for said life insurance financial product;

determining a death benefit amount for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status for said life insurance financial product, an age declining ratio to cash value amount for said product, an age of the insured and his/her risk classification and smoking status, said death benefit amount increasing and decreasing based upon said corresponding cash surrender value;

deducting a cost of an at-risk insurance amount corresponding to said death benefit amount from said corresponding cash surrender value sufficient to retain said life insurance status;

maximizing the cash surrender value for said life insurance financial product by minimizing said cost of said at-risk insurance amount;

funding said life insurance financial product with additional funding premiums when payments are made and setting forth, in a schedule, said additional funding premiums, said schedule set forth in a policy established at the time said life insurance financial product is issued; and

processing said additional funding premiums set forth in said schedule without establishing insurability upon acceptance of said additional funding premiums such that each funding for said life insurance product acquires an amount of life insurance that varies with investment results over time.

22. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 21 wherein determining said death benefit amount involves determining a life insurance base death benefit amount for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status under a net single premium method based on age declining ratio to cash value amount for said life insurance financial product and age of the insured and his/her risk classification and smoking status, said life insurance base death benefit amount increasing and decreasing based upon said corresponding cash surrender value.

23. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 21 including deducting monthly said cost of said at-risk insurance amount.

24. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 23 including determining said initial cash surrender value after accounting for initial funding charges.

25. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 24 including accounting for initial funding charges, said initial funding charges being one or more charges from the group of charges including a premium sales charge, a premium federal tax charge, a premium state tax charge, and premium administrative charge.

26. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 25 wherein said funding charges are subtracted from said initial cash surrender value prior to determining account values and calculating said corresponding cash surrender value.

27. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 21 including investing the cash surrender value of the life insurance financial product in one or more financial investment accounts, including different investment funds, and calculating the cash surrender value of the life insurance financial product as a function of gains and losses on said investment accounts and funds.

28. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 21 wherein determining said death benefit amount is determining a life insurance base death benefit amount sufficient to retain said life insurance status which status correlated with retaining the tax status of life insurance under current law.

29. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 21 wherein said investment accounts provide earnings and including deducting, from said earnings, the cost of said at-risk insurance amount.

30. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 21 wherein said cost of at risk insurance amount is calculated daily as a pro-rated portion of a monthly charge for the at risk amount and said cost of at risk insurance amount is deducted monthly.

31. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 21 including re-allocating said corresponding cash surrender value into other financial investment funds or accounts and thereafter determining account values and the corresponding cash surrender value.

32. A non-transitory computer readable medium containing programming instructions for establishing and maintaining a financial product as a life insurance product for an insured party, the programming instructions comprising:

processing an initial funding premium for said life insurance financial product with;

determining an initial cash surrender value for said life insurance financial product by accounting for said initial funding premium allocated in one or more investment accounts;

minimizing life insurance costs by;

on a daily basis, determining daily account values for said investment accounts and calculating a corresponding cash surrender value for said life insurance financial product;

determining daily a minimum amount of life insurance death benefit for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status under a premium method based upon on age of the insured and his/her risk classification, said minimum life insurance with death benefit being that minimum required to maintain said life insurance financial product as life insurance and said death benefit amount increasing and decreasing based upon said corresponding cash surrender value;

deducting a cost of an at-risk insurance amount corresponding to said death benefit amount from said corresponding cash surrender value sufficient to retain life insurance status for said life insurance financial product;

maximizing the cash surrender value for said life insurance financial product by minimizing said cost of said at-risk insurance amount;

funding said life insurance financial product with additional funding premiums when payments are made and setting forth, in a schedule, said additional funding premiums, said schedule set forth in a policy established at the time said life insurance financial product is issued; and

processing said additional funding premiums set forth in said schedule without establishing insurability upon acceptance of said additional funding premiums such that each funding for said life insurance product acquires an amount of life insurance that varies with investment results over time.

33. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 32 wherein said minimum life with death benefit being that minimum required to maintain said life insurance financial product as life insurance is based upon said daily cash surrender value and an age declining ratio to cash value amount for said life insurance financial product.

34. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 32 including deducting monthly said cost of said at-risk insurance amount.

35. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 32 including determining said initial cash surrender value after accounting for initial funding charges.

36. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 35 including accounting for initial funding charges, said initial funding charges being one or more charges from the group of charges including a premium sales charge, a premium federal tax charge, a premium state tax charge, and premium administrative charge.

37. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 36 wherein said funding charges are subtracted from said initial cash surrender value prior to determining account values and calculating said corresponding cash surrender value.

38. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 32 including investing the cash surrender value of the life insurance financial product in one or more financial investment accounts, including different investment funds, and calculating the cash surrender value of the life insurance financial product as a function of gains and losses on said investment accounts and funds.

39. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 32 wherein determining said life insurance death benefit amount is determining a life insurance base death benefit amount sufficient to retain said life insurance status which status correlated with retaining the tax status of life insurance under current law.

40. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 32 wherein said investment accounts provide earnings and including deducting, from said earnings, the cost of said at-risk insurance amount.

41. A non-transitory computer readable medium with programming instructions for a life insurance product as claimed in claim 32 including re-allocating said corresponding cash surrender value into other financial investment funds or accounts and thereafter determining account values and the corresponding cash surrender value.

42. A computer system with functional modules for establishing and maintaining a financial product as a life insurance product for an insured party comprising:

means for processing an initial funding premium for said life insurance financial product;

means, coupled to said means for processing, for subtracting funding charges from said initial funding premium and determining an initial cash surrender value for said life insurance financial product thereafter;

means for allocating said initial funding premium to one or more sub-accounts of different financial investment funds or accounts;

means for determining account values, on a daily basis, for said different funds and accounts and calculating a corresponding cash surrender value for said life insurance financial product;

means for determining a life insurance base death benefit amount for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status under a net single premium method based on age declining ratio to cash value amount for said life insurance financial product and age of the insured and his/her risk classification and smoking status, said life insurance base death benefit amount increasing and decreasing based upon said corresponding cash surrender value;

means for deducting a cost of an at-risk insurance amount corresponding to said death benefit amount from said corresponding cash surrender value sufficient to retain life insurance status for said life insurance financial product;

means for maximizing the cash surrender value for said life insurance financial product by minimizing said cost of said at-risk insurance amount;

means for processing additional funding premiums for said life insurance financial product when payment is made and based upon a schedule set forth in a policy established at the time said life insurance financial product is issued; and

said means for processing said additional funding premiums effected without establishing insurability such that each funding for said life insurance product acquires an amount of life insurance that varies with investment results over time.

43. A computer system with functional modules for a life insurance product as claimed in claim 42 wherein said means for determining said life insurance base death benefit amount sufficient to retain said life insurance status is correlated with means for retaining the tax status of life insurance under current law.

44. A computer system with functional modules as claimed in claim 42 wherein said different financial investment funds or accounts provide earnings and the system including means for deducting, from said earnings, the cost of said at-risk insurance amount.

45. A computer system with functional modules as claimed in claim 42 wherein said means for subtracting said funding charges involves subtracting funding charges from the group of funding charges including a premium sales charge, a premium federal tax charge, a premium state tax charge, and premium administrative charge.

46. A computer system with functional modules as claimed in claim 45 wherein said means for subtracting subtracts funding charges prior to determining account values and calculating said corresponding cash surrender value.

47. A computer system with functional modules as claimed in claim 42 including means for re-allocating said corresponding cash surrender value into other financial investment funds or accounts and said means for determining account values thereafter determining account values and the corresponding cash surrender value.

48. A computer system with functional modules as claimed in claim 42 wherein said means for determining said life insurance base death benefit amount sufficient to retain said life insurance status is correlated with means for retaining the tax status of life insurance under current law.

49. A computer system with functional modules for establishing and maintaining a financial product as a life insurance product for an insured party comprising:

means for processing an initial funding premium for said life insurance financial product;

means, coupled to said means for processing, for determining an initial cash surrender value for said life insurance financial product by accounting for said initial funding premium allocated in one or more investment accounts;

means for determining daily account values, on a daily basis, for said investment accounts and calculating a corresponding cash surrender value for said life insurance financial product;

means for determining a death benefit amount for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status for said life insurance financial product accounting for age of the insured and his/her risk classification and smoking status, said death benefit amount increasing and decreasing based upon said corresponding cash surrender value;

means for deducting a cost of an at-risk insurance amount corresponding to said death benefit amount from said corresponding cash surrender value sufficient to retain said life insurance status;

means for maximizing the cash surrender value for said life insurance financial product by minimizing said cost of said at-risk insurance amount;

means for processing additional funding premiums for said life insurance financial product when payment is made and based upon a schedule set forth in a policy established at the time said life insurance financial product is issued; and

said means for processing said additional funding premiums effected without establishing insurability such that each funding for said life insurance product acquires an amount of life insurance that varies with investment results over time.

50. A computer system with functional modules as claimed in claim 49 wherein said means for deducting calculates daily said cost of at risk insurance amount as a pro-rated portion of a monthly charge for the at risk amount and said cost of at risk insurance amount is deducted monthly.

51. A computer system with functional modules for a life insurance product as claimed in claim 49 wherein said means for determining determines said initial cash surrender value after accounting for initial funding charges.

52. A computer system with functional modules for a life insurance product as claimed in claim 49 including means for accounting for initial funding charges, said initial funding charges being one or more charges from the group of charges including a premium sales charge, a premium federal tax charge, a premium state tax charge, and premium administrative charge.

53. A computer system with functional modules for a life insurance product as claimed in claim 52 wherein said funding charges are subtracted from said initial cash surrender value prior to determining account values and calculating said corresponding cash surrender value.

54. A computer system with functional modules for a life insurance product as claimed in claim 51 including means for investing the cash surrender value of the life insurance financial product in one or more financial investment accounts, including different investment funds, and means for calculating the cash surrender value of the life insurance financial product as a function of gains and losses on said investment accounts and funds.

55. A computer system with functional modules for a life insurance product as claimed in claim 51 wherein said means for determining said death benefit amount determines a life insurance base death benefit amount sufficient to retain said life insurance status which status is correlated with retaining the tax status of life insurance under current law.

56. A computer system with functional modules for a life insurance product as claimed in claim 49 including means for accounting for earnings provided by said investment accounts and the system includes means for deducting, from said earnings, the cost of said at-risk insurance amount.

57. A computer system with functional modules for a life insurance product as claimed in claim 49 including means for re-allocating said corresponding cash surrender value into other financial investment funds or accounts and said means for determining account values thereafter determines said account values and the corresponding cash surrender value.

58. A computer system with functional modules for a life insurance product as claimed in claim 49 wherein said means for determining said initial cash surrender value determines said initial cash surrender value after accounting for initial funding charges.

59. A computer system with functional modules for establishing and maintaining a financial product as a life insurance product for an insured party comprising:

means for processing an funding initial funding premium for said life insurance financial product;

means, coupled to said means for processing, for determining an initial cash surrender value for said life insurance financial product by accounting for said initial funding premium allocated in one or more investment accounts;

means for determining account values, on a daily basis and upon fluctuation of said investment accounts, for said investment accounts and for calculating a corresponding cash surrender value for said life insurance financial product;

means for determining a death benefit amount for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status under a premium method based on age declining ratio to cash value amount for said life insurance financial product, said death benefit amount increasing and decreasing based upon said corresponding cash surrender value;

means for deducting a cost of an at-risk insurance amount corresponding to said death benefit amount from said corresponding cash surrender value sufficient to retain said life insurance status;

means for maximizing the cash surrender value for said life insurance financial product by minimizing said cost of said at-risk insurance amount;

means for processing additional funding premiums for said life insurance financial product when payment is made and based upon a schedule set forth in a policy established at the time said life insurance financial product is issued; and

said means for processing said additional funding premiums effected without establishing insurability such that each funding for said life insurance product acquires an amount of life insurance that varies with investment results over time.

60. A computer system with functional modules for a life insurance product as claimed in claim 59 wherein said means for determining said death benefit amount involves determining a life insurance base death benefit amount for said insured as a function of said corresponding cash surrender value sufficient to retain life insurance status under a net single premium method based on age declining ratio to cash value amount for said life insurance financial product and age of the insured and his/her risk classification and smoking status, said life insurance base death benefit amount increasing and decreasing based upon said corresponding cash surrender value.

61. A computer system with functional modules for a life insurance product as claimed in claim 59 wherein said means for determining account values, includes means for deducting calculates daily said cost of at risk insurance amount as a pro-rated portion of a monthly charge for the at risk amount and said cost of at risk insurance amount is deducted monthly.

62. A computer system with functional modules for a life insurance product as claimed in claim 61 including means for determining said initial cash surrender value after accounting for initial funding charges.

63. A computer system with functional modules for a life insurance product as claimed in claim 62 including means for accounting for initial funding charges, said initial funding charges being one or more charges from the group of charges including a premium sales charge, a premium federal tax charge, a premium state tax charge, and premium administrative charge.

64. A computer system with functional modules for a life insurance product as claimed in claim 63 including means, coupled to said means for determining account values, for subtracting said funding charges from said initial cash surrender value prior to determining account values and calculating said corresponding cash surrender value.

65. A computer system with functional modules for a life insurance product as claimed in claim 59 including means for investing the cash surrender value of the life insurance financial product in one or more financial investment accounts, including different investment funds, and means for calculating the cash surrender value of the life insurance financial product as a function of gains and losses on said investment accounts and funds.

66. A computer system with functional modules for a life insurance product as claimed in claim 59 wherein said means for determining said death benefit amount determines a life insurance base death benefit amount sufficient to retain said life insurance status which status is correlated with retaining the tax status of life insurance under current law.

67. A computer system with functional modules for a life insurance product as claimed in claim 59 wherein said investment accounts provide earnings, the system including means for accounting for said earnings and including means for deducting, from said earnings, the cost of said at-risk insurance amount.

68. A computer system with functional modules for a life insurance product as claimed in claim 59 including means for re-allocating said corresponding cash surrender value into other financial investment funds or accounts and said means for determining account values thereafter determines account values and the corresponding cash surrender value.

69. A computer system with functional modules for establishing and maintaining a financial product as a life insurance product for an insured party comprising:

means for processing an initial funding premium for said life insurance financial product with;

means, coupled to said means for processing, for determining an initial cash surrender value for said life insurance financial product by accounting for said initial funding premium allocated in one or more investment accounts;

means for minimizing life insurance costs with;

means for determining daily account values for said investment accounts on a daily basis and for calculating a corresponding cash surrender value for said life insurance financial product;

means for determining daily a minimum amount of life insurance death benefit for said insured as a function of said corresponding cash surrender value under a premium method accounting for the age of the insured, a risk classification and a smoking status, said minimum life insurance with death benefit being that minimum required to maintain said life insurance financial product as life insurance and said death benefit amount increasing and decreasing based upon said corresponding cash surrender value;

means for deducting a cost of an at-risk insurance amount corresponding to said death benefit amount from said corresponding cash surrender value sufficient to retain life insurance status for said life insurance financial product;

means maximizing the cash surrender value for said life insurance financial product by minimizing said cost of said at-risk insurance amount;

means for processing additional funding premiums for said life insurance financial product when payment is made and based upon a schedule set forth in a policy established at the time said life insurance financial product is issued; and

said means for processing said additional funding premiums effected without establishing insurability such that each funding for said life insurance product acquires an amount of life insurance that varies with investment results over time.

70. A computer system with functional modules for a life insurance product as claimed in claim 69 wherein said means for determining said minimum amount of life insurance death benefit determining a minimum death benefit required to maintain said life insurance financial product as life insurance based upon said daily cash surrender value and an age declining ratio to cash value amount for said life insurance financial product.

71. A computer system with functional modules for a life insurance product as claimed in claim 69 wherein said means for deducting calculates daily said cost of at risk insurance amount as a pro-rated portion of a monthly charge for the at risk amount and said cost of at risk insurance amount is deducted monthly.

72. A computer system with functional modules for a life insurance product as claimed in claim 69 including means for determining said initial cash surrender value after accounting for initial funding charges.

73. A computer system with functional modules for a life insurance product as claimed in claim 72 including means for accounting for initial funding charges, said initial funding charges being one or more charges from the group of charges including a premium sales charge, a premium federal tax charge, a premium state tax charge, and premium administrative charge.

74. A computer system with functional modules for a life insurance product as claimed in claim 73 including means for subtracting said funding charges from said initial cash surrender value prior to determining account values and calculating said corresponding cash surrender value.

75. A computer system with functional modules for a life insurance product as claimed in claim 69 including means for investing the cash surrender value of the life insurance financial product in one or more financial investment accounts, including different investment funds, and means for calculating the cash surrender value of the life insurance financial product as a function of gains and losses on said investment accounts and funds.

76. A computer system with functional modules for a life insurance product as claimed in claim 69 wherein said means for determining said life insurance death benefit amount determines a life insurance base death benefit amount sufficient to retain said life insurance status which status is correlated with retaining the tax status of life insurance under current law.

77. A computer system with functional modules for a life insurance product as claimed in claim 69 wherein said investment accounts provide earnings, said means for determining account values including means for accounting for said earnings, and the system including means for deducting, from said earnings, the cost of said at-risk insurance amount.

78. A computer system with functional modules for a life insurance product as claimed in claim 69 including means for re-allocating said corresponding cash surrender value into other financial investment funds or accounts and thereafter determining account values and the corresponding cash surrender value.