Patent ID: 8768732

Claim:
A method for managing an insurance policy contract for which premiums are paid for a defined benefit, comprising: using at least one computer server, the at least one computer server including software executing from non-transitory media, the software configured to— access category data defining living expenses subsidised under the insurance policy pertaining to at least one of the categories of food, clothing, transport, utilities, and communications; access insured event data defining death, disease, or disability insured events covered under the insurance policy; and on the occurrence of at least one insured event defined within the insured event data, to an insured person of the policy, calculate an at least partial subsidy as a percentage of expenses of the insured or a nominated beneficiary, defined within the at least one category data, as evidenced by historical spending within the at least one category by the insured; and cause, upon the occurrence of the at least one insured event, the at least partial subsidy to be paid to the insured person or a nominated beneficiary, over a predetermined period of time, as said living expenses are incurred by the insured or the nominated beneficiary.