Longevity insurance

Details Longevity insurance Longevity insurance

2011-08-30

2011-08-30

Patel, Jagdish N (Department: 3693)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Insurance

Reexamination Certificate

active

08010388

ABSTRACT:
The present invention provides a life insurance product known as longevity insurance. Longevity insurance mitigates longevity risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of longevity insurance guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a later date, which may be utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated assets.

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Kravitz, Jodi L, Methods and Systems for Providing Longevity Insurance, Oct. 8, 2004, U.S. Appl. No. 10/960,631.
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