Method for determining insurance benefits and premiums from dynamic credit information
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United States of America Patent
Stats
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Oct 16, 2012
Grant Date -
Sep 25, 2008
app pub date -
May 8, 2008
filing date -
Nov 27, 2002
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Methods for obtaining credit life insurance for an individual via a service organization are provided. In one embodiment, the method includes the steps of: 1) registering the individual with the service organization via a computer system in a computer network; 2) accessing credit information on the individual via the computer system in the computer network and determining the total debt of the individual; 3) determining the amount of debt to be covered by credit life insurance benefits; 4) creating a data base including insurance companies that provide credit life insurance benefits, the data base further including the premiums that the insurance companies charge for issuing their credit life insurance; 5) selecting specific coverage with required specific premiums; 6) obtaining the individual's approval of the required specific premiums via the computer system in the computer network; and 7) obtaining credit life insurance benefits for the individual.
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Family
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