Patent ID: 8165902

Claim:
Is allowed because the best prior art of record alone or in combination, neither discloses nor fairly suggests the limitations: A method of operating an insurance computing system to set up an investment-type whole life insurance contract at autonomous interest rates, the method comprising: inputting an application, by a proposer, to the insurance computing system for an investment-type whole life insurance at autonomous interest rates; generating an instruction, for collecting basic information through a user terminal, by an online policy processing and issuing processor of the insurance computing system; auditing the basic information by the online policy processing and issuing processor; analyzing a policy condition of the investment-type whole life insurance at autonomous interest rates; providing an insurance scale combination of the investment-type whole life insurance at autonomous interest rates according to the basic information; inputting a selection of the insurance scale combination; determining an approval of the application by the online policy processing and issuing processor; collecting a premium and issuing a policy by the insurance computing system; logging in to the insurance computing system and participating in a competitive bidding process performed by the insurance computing system; entering a bidding amount into the insurance computing system; calculating an average deposit interest rate and a borrowing interest rate according to the entered bidding amount by a deposit and borrowing competitive bidding processor; determining a successful bidding amount and successful bidders according to a fund balance; clearing a total successful bidding amount of the successful bidders by the deposit and borrowing competitive bidding processor; clearing a deposit amount of an unsuccessful bidder according to an average borrowing interest rate and a deposit bid bond of the successful bidders, a highest bidding amount of the unsuccessful bidder, or a benchmark interest rate; settling and depositing the total successful bidding amount in an investment sub-account of the successful bidders by the deposit and borrowing competitive bidding processor; settling and depositing the deposit amount in a savings sub-account of the unsuccessful bidder; and determining, by an accident identification and fund appropriation processor, whether an accident occurs before or after a whole life insurance payment period expires, so as to appropriate insurance proceeds and a balance of the investment sub-account or the savings sub-account to a beneficiary or appropriate the balance of the investment sub-account or the savings sub-account to the proposer.