Patent ID: 8108308
Filing Date: 2012-01-31
Classification: G06Q

Abstract:
1. A computer-implemented method for conducting a life settlement transaction with a policyholder, comprising: receiving by a buyer, in exchange for consideration given to a policyholder, an assignment by the policyholder of life insurance having a first death benefit value on a life of an insured, the consideration having an estimated economic value approximately equivalent to a life settlement value of the life insurance at the time of the assignment; the life settlement value of the life insurance being determined on a computer and stored in a computer memory; selecting, by a computer, a second death benefit value for life insurance on the life of the insured calculated using the life settlement value, the second death benefit value being a portion of the first death benefit value; and at least part of the consideration being payment on premiums for the life insurance having the second death benefit, wherein the life insurance having the second death benefit is provided by a second life insurance policy purchased by the buyer, the second life insurance policy being issued by someone other than the buyer, and the life insurance having the second death benefit being issued by someone other than the buyer.