Hybrid life insurance product with an improved total return

US8180656B2 · kind B2 · utility

Assignee

• HARTFORD FIRE INSURANCE COMPANY · US

Inventors

• Edwin C. Barron · Suffield, US
• Thomas Kalmbach · Stuttgart, DE
• Michael J. Roscoe · South Windsor, US

Key dates

• Filing date: Apr 8, 2008
• Grant date: May 15, 2012
• Expiry date: Jan 13, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Disclosed is a novel life insurance product that provides an improved return to a purchaser. The life insurance product contains a benefit payment, and has a fixed benefit amount and a variable benefit amount. A policy protection benefit prevents a purchaser's life insurance product from lapsing, and a minimum death benefit ensures that the purchaser receives the greater of the face value of the product and a predetermined percentage of the account value.