SYSTEM AND METHOD OF MANAGING AN INSURANCE SCHEME
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United States of America Patent
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Issued Date -
Dec 3, 2009
app pub date -
Jun 3, 2009
filing date -
Jun 3, 2008
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A system for managing an insurance scheme includes a benefit module to define at least one insured event for an insured person and to define at least one benefit to be paid out on the occurrence of one of the insured events. A monitoring module monitors any interest rate increases or decreases as set by a financial institution. A calculation module alters the at least one benefit based on any monitored change in interest rate, wherein the amount of the altering is related to the amount of the increase or decrease of the interest rate and an awards module, on the occurrence of the at least one insured event, provides the at least one altered benefit to the insured person.
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