Patent ID: 8239221

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 underwriting information, said at least one database query producing a query result; causing the at least one host device to determine, based on the query result, that the person qualifies for the life insurance; providing the life insurance, the life insurance having a first face amount, a first premium amount, and a term; providing life insurance coverage at the first face amount for the first premium amount without requiring medical test results associated with the person any time during the term; and modifying the life insurance during the term if the medical test results associated with the person are received and are satisfactory, wherein modifying the life insurance includes at least one of increasing the face amount, decreasing the premium amount, and extending the term.