Patent ID: 8296208

Claim:
A computer system for processing data related to a life insurance policy issued by an issuer and having a death benefit payable to a beneficiary upon a death of an insured, comprising: a data storage device for storing data related to the life insurance policy, including a current value of the death benefit, a current amount of indebtedness on the policy, and availability of periodic payments to an owner of the policy that reduce the death benefit, the periodic payments being available during a lifetime of the insured responsive to a request including data indicative of a medical condition of the insured; and a processor, in communication with said data storage device, the processor configured to: receive data indicative of a request for periodic payments to an owner of the policy including data indicative of the medical condition of the insured; determine a reduction of the current value of the death benefit and a proportional reduction of the current amount of indebtedness on the policy based on one of the periodic payments and without reduction of an amount of each of the periodic payments, and provide an output signal having data indicative of the determined current value of the death benefit and the determined current amount of indebtedness on the policy.