Method for determining insurance benefits and premiums from credit information
US8290856B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Nov 26, 2003 |
| Grant date | Oct 16, 2012 |
| Priority date | — |
| Expiry date | Nov 26, 2029 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The invention is a method of obtaining credit life insurance for an individual by means of a service organization. In detail, the steps include: 1) registering the individual with the service organization via a computer system in a computer network; 2) accessing credit information on the individual by means of the computer system in the computer network and determining the total debt of the individual; 3) determining the amount of debt to be covered by credit life insurance benefits; 4) creating a data base including insurance companies that provide credit life insurance benefits, the data base further including the premiums that the insurance companies charge for issuing their credit life insurance; 5) selecting specific coverage with required specific premiums; 6) obtaining the individual's approval of the required specific premiums via the computer system in the computer network; and 7) obtaining credit life insurance benefits for the individual.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.