Patent ID: 8224677

Claim:
A computer system for administering applications for life insurance, comprising: a processor; a memory storage device in communication with the processor; the processor configured to: receive data indicative of an application by a proposed insured for life insurance, the data including a rating category, and an initial premium payment; based exclusively on the received data indicative of an application by a proposed insured for life insurance, determine whether the proposed insured is uninsurable; responsive to a determination that the proposed insured is uninsurable, generate an output signal having data indicative of a decision to respond to the application by declining to provide insurance; responsive to a determination that the proposed insured is not uninsurable, generate an output signal having data indicative of a decision to respond to the application by issuing a policy, having the received rating category assigned to the proposed insured, and commencing a comprehensive underwriting process; receive data indicative of a result of the comprehensive underwriting process; based on the result of the comprehensive underwriting process, determine a rating category of the proposed insured; and if the determined rating category is the same as the received rating category, provide an output signal indicative of no change to the policy, and otherwise provide an output signal indicative of a changed premium for the policy and no other change to the policy.