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SYSTEM AND METHOD FOR ADMINISTRATION OF LIFE INSURANCE POLICY WITH ACCELERATED BENEFITS
SYSTEM AND METHOD FOR ADMINISTRATION OF LIFE INSURANCE POLICY WITH ACCELERATED BENEFITS
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机译:具有提高利益的人寿保险政策的管理系统和方法
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摘要
A computer system for administering a life insurance policy is configured to, responsive to receipt of certification that the insured has either loss of ability to perform two activities of daily living or cognitive impairment, provide instructions to pay an owner of the policy, in periodic payments, an accelerated benefit, the accelerated benefit being in an amount less than the death benefit, a first of the periodic payments being for a time period commencing on a date of receipt of the certification, and continuing until the insured no longer has the loss of ability to perform two activities of daily living or cognitive impairment. The system is further configured to, responsive to each of the periodic payments, determine a reduction of the amount of the death benefit by an amount of each of the periodic payments.
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