Corporate owned life insurance product with death benefits
US8145509B2 · kind B2 · utility
10Cited by
0References
15Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Oct 15, 2009 |
| Grant date | Mar 27, 2012 |
| Priority date | — |
| Expiry date | Sep 12, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A corporate owned life insurance product with death benefits (COLI-DB) that has no cash value and is minimally funded. The policy holder selects an election to mark to market accounting for life insurance. Thus, the COLI-DB has no cash surrender value. The net present value of the COLI-DB can be more than zero (and quite high) so there is no impact to net income and there may even be net income in the first year. The COLI-DB system may optimize returns by using new accounting rules in contrast to the traditional approach of COLI-CV, and returning death benefits through a captive to increase returns.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.