Patent ID: 8027852

Claim:
A system for providing an insurance product for at least one insured customer, comprising: a) a communication device for receiving at least one application, each application associated with an applicant and including personal, medical and financial information about the applicant; b) a processor coupled to the communication device and configured to determine for each application if the applicant qualifies as an insured customer based on the personal, medical and financial information; and c) a memory accessible to the processor and configured for storing an account record associated with each insured customer, each account record having: i. at least one insured event associated with that insured customer; ii. a benefit amount payable in association with the at least one insured event; iii. an insurance cost to be received from that insured customer; and iv. a cash value based on predetermined account record factors; d) wherein the memory stores program code executable by the processor for: i. defining a reserve fund based on a sum of the benefit amounts for each of the insured customers; ii. determining an investment performance associated with the reserve fund during at least one period of time; and iii. calculating a performance credit amount for each insured customer based on the investment performance of the reserve fund and the cash value in the account record for that insured customer.