Patent ID: 8660863

Claim:
A method of providing a variable universal life insurance product having a product life and including a death benefit and at least one associated investment vehicle to be managed, comprising: combining, by a computer system, a life insurance policy chassis from an insurance company with the at least one associated investment vehicle to form the variable universal life insurance product; determining, by the computer system, a cash value of investment assets of a policy holder within the at least one associated investment vehicle; determining, by the computer system, a cost of insurance rate, the cost of insurance rate being a percentage of the cash value of the investment assets of the policy holder, the percentage being guaranteed for the product life of the variable universal life insurance product; determining, by the computer system, an insurance charge by multiplying the cash value of the investment assets of the policy holder by the cost of insurance rate; charging the policy holder, by the computer system, the insurance charge; determining, by the computer system, the death benefit by multiplying the cash value of the investment assets by a death benefit percentage, the death benefit percentage being a percentage that decreases over time during the product life; and servicing, by the computer system, the variable universal life insurance product and the at least one associated investment vehicle.