Method and computer-readable medium for administering an insurance policy premium payment deferral plan
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United States of America Patent
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Oct 30, 2012
Grant Date -
N/A
app pub date -
Apr 13, 2010
filing date -
Apr 13, 2009
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Method and computer-readable medium for administering an insurance policy premium payment deferral plan are disclosed. According to one embodiment of the disclosure, a method for administering an insurance policy premium payment deferral plan that maintains an insurance policy in effect while permitting deferment of premium payments owed under the policy includes determining whether a policy is eligible for a premium deferral. The method also includes automatically producing a notification for the policy if the policy is eligible for the premium deferral. The method further includes determining whether the premium deferral has been selected if the insurance policy is eligible for the premium deferral. The method also includes automatically deferring an insurance premium payment if the insurance policy is eligible for the premium deferral and the premium deferral is selected.
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