Patent ID: 8340987
Filing Date: 2012-12-25
Classification: G06Q

Abstract:
1. A non-transitory computer readable medium storing computer readable instructions thereon which when executed, perform a method comprising: evaluating an alternative benefits funding arrangement in which funds are contributed by an employer to a Voluntary Employee Beneficiary Association (VEBA) trust and at least a portion of the funding is used to purchase at least one life insurance contract from a captive insurance company or a non-captive insurance company and then reinsuring at least a portion of the life insurance contract if purchased from said non-captive insurance company by the captive insurance company by: calculating what portion of said funding to use to purchase said at least one life insurance contract; determining, based at least on benefits liability of said employer and assets of said employer, whether to purchase said at least one life insurance contract from a non-captive insurance company or a captive insurance company; and determining what portion of said at least one life insurance contract purchased from said non-captive insurance company should be reinsured by said captive insurance company; wherein said VEBA trust is the beneficiary of said at least one life insurance contract; and wherein said captive insurance company is an insurance company that insures a risk of said employer who is not solely in the business of insurance.