Patent ID: 8335699

Claim:
A method comprising: providing, a server operable to receive and transmit electronic data, the server including a processor module and a computer readable electronic storage module; receiving, by the server, a population data set including demographic data for each member of a predetermined population; generating, by the server a plurality of mortality data sets, each mortality data set being defined by a group of members of the population data set having a common set of demographic data and each mortality data set including a mortality rate for that defined group of members; generating, by the server, a financial target data set including the population data set and indicating, for each mortality data set, a per member average required life insurance benefit; transmitting, by the server the financial target data set to a plurality of life insurance vendors; receiving, by the server, from each of at least two life insurance vendors a rate table including the vendor's per member life insurance premium rate for each mortality data set; generating, by the server, a proportional rating for each insurance vendor; and generating, by the server, a final rate table having a per member life insurance premium rate for each mortality data set, the life insurance premium rate selected for each mortality data set being the lowest vendor rate, as adjusted by the proportional rating for that vendor, for that mortality data set.