System and method for pricing and issuing level pay death benefit policies

US8433589B2 · kind B2 · utility

Assignee

• The Prudential Insurance Company of America · US

Inventors

• Paul M. Fischer · Apple Valley, US
• Stephen Roche · Simsbury, US
• Michael J. Roscoe · South Windsor, US
• Mary Katherine Weise · Bloomfield, US

Key dates

• Filing date: Dec 17, 2009
• Grant date: Apr 30, 2013
• Expiry date: Nov 7, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Pursuant to some embodiments, a computer system for pricing a paycheck term policy is provided which includes a processor, a communication device in communication with the processor the communication device configured to receive an input data set, the input data set including at least an issue age of an insured associated with the policy, a desired death benefit payment amount, an underwriting class associated with the insured, and an interest rate factor.