System and Method for Managing a Long Term Care Rider for Single Premium Whole Life Insurance Policy
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United States of America Patent
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app pub date -
Mar 14, 2014
filing date -
Dec 21, 2012
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A system and method for managing a single premium whole life insurance policy with a rider for providing an accelerated benefit for covered long term care expenses. The system and method provides for accelerated benefits to be tracked and maintained as a lien against the death benefit of the single premium whole life insurance policy. The lien does not directly affect the face value of the single premium whole life insurance policy and permits dividends to continue to be earned from the whole life insurance policy. The lien is applied against the death benefit and serves to reduce the cash value provided should the policy be surrendered.
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Family
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Cited Art Landscape
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