SYSTEM AND METHOD OF MANAGING AN INSURANCE SCHEME
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United States of America Patent
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N/A
Issued Date -
May 12, 2011
app pub date -
Oct 26, 2010
filing date -
Oct 26, 2009
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
A method of managing an insurance policy includes storing in a memory a policy inception interest rate level which is an interest rate level payable on debt of the insured person. After the policy inception an interest rate level payable on debt of the insured person at that time is determined and compared with the inception interest rate level. If the determined interest rate level is higher than the inception interest rate level then a debt protector amount to be paid to the insured person is calculated and on the occurrence of an insured event the debt protector amount is paid to the insured person or their nominated beneficiary.
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Family
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