Patent ID: 8650049

Claim:
A computer-implemented method for online processing of a life insurance application, comprising: under control of instructions executed by one or more computing devices in a computer system: receiving information via an electronic data communications link that identifies an individual to be insured and describes the insurability of the individual, wherein the information includes health information of the individual; obtaining a commitment for purchase of a life insurance policy to be issued by an insurance provider in accordance with parameters of the life insurance application; evaluating the health information of the individual; determining whether to extend temporary insurance coverage to the individual based on the evaluation of the health information of the individual; if it is determined to extend temporary insurance coverage to the individual, then issuing via an electronic data communications link a temporary insurance certificate that is personalized for the individual according to the life insurance policy to be issued by the insurance provider, accompanied by a temporary life insurance agreement specifying terms of legally binding temporary life insurance that is extended to the individual pending issuance of the life insurance policy, wherein the personalized temporary insurance certificate includes, in a single document, information identifying the individual, information identifying the life insurance policy to be issued to the individual, and the amount of insurance coverage provided by the temporary life insurance agreement; and if it is determined to not extend temporary insurance coverage to the individual, then refusing to collect a premium for the life insurance policy and not extending temporary insurance coverage to the individual.