Patent ID: 8271301

Claim:
A processor-implemented method for providing life method comprising: receiving a client application for a universal life insurance policy, the client application including at least a client eligibility criteria profile corresponding to a client; receiving a level cost of insurance duration specification; determining by the processor a level cost of insurance charge for a time period specified by the level cost of insurance duration specification, the level cost of insurance charge based at least in part on the level cost of insurance duration specification and a cost of insurance rate for a term life insurance policy available to the client based on the client application; generating a level cost of insurance universal life insurance policy having the level cost of insurance charge provided for the level cost of insurance duration specification, wherein an amount equal to the level cost of insurance charge is extractable at least in part from a cash value of the policy, the cash value of the policy being funded at least in part by premium payments, wherein the level cost of insurance charge is distinguishable from a premium; and providing the level cost of insurance universal life insurance policy to the client.