Patent ID: 8209198

Claim:
A method of providing life insurance, the method comprising: receiving identification information and underwriting information associated with a person on an application for life insurance covering the person's life; causing at least one host device to perform at least one database query based on the received identification and based on the received underwriting information to produce a query result; causing the at least one host device to determine that the person qualifies for life insurance based on the query result; if the determination is that the person qualifies for life insurance based on the query result: (a) providing the life insurance to the person, the life insurance having: (i) a first coverage period beginning on a policy issue date and (ii) an extended coverage period, the policy issue date and the first coverage period being chronologically prior to the extended coverage period; (b) providing life insurance coverage beginning on the policy issue date and continuing through the first coverage period without requiring medical test results associated with the person; and (c) if the medical test results associated with the person are (1) satisfactory and (2) are received after the policy issue date and before the end of the first coverage period, altering a value of coverage associated with life insurance coverage provided during the extended coverage period.