Method and apparatus for insuring the funding of a future liabil

Details Method and apparatus for insuring the funding of a future liabil Method and apparatus for insuring the funding of a future liabil

1986-12-30

1989-06-13

MacDonald, Allen

Boots, shoes, and leggings

364300, G06F 1521

Patent

active

048398047

ABSTRACT:
A method and apparatus are provided to insure a means of purchasing a floating rate zero coupon note that is designed to fund a certain future liability of uncertain value and thereby defease fully its future cost. The method is a one-year renewable term insurance program that fully funds the purchase of a certain floating rate zero coupon note upon the occurrence of some catastrophic event, such as the death of the insured. The system projects the expected death benefit payment and then calculates the annual insurance premium based on the expected death benefit payment, type of policy, and personal and risk characteristics of the insured.

REFERENCES:
patent: 4642768 (1987-02-01), Roberts
patent: 4722055 (1988-01-01), Roberts

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