Method for determining insurance benefits and premiums from credit information
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United States of America Patent
Stats
-
Oct 16, 2012
Grant Date -
N/A
app pub date -
Nov 26, 2003
filing date -
Nov 27, 2002
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
The invention is a method of obtaining credit life insurance for an individual by means of a service organization. In detail, the steps include: 1) registering the individual with the service organization via a computer system in a computer network; 2) accessing credit information on the individual by means of 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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