Patent ID: 8204769

Claim:
A computer-implemented method for administering a claim, the method comprising: establishing a pension debt mitigation strategy, wherein the pension debt mitigation strategy covers a balance of a loan to a participant from a retirement account of the participant, wherein the loan is collateralized by assets in the retirement account held by the participant, wherein the pension debt mitigation strategy is subject to an agreement between the participant and a creditor or an insurer, and wherein the debt mitigation strategy is provided in response to a requirement for insurance covering a balance of the loan, imposed as a pre-condition to making the loan; receiving notification, utilizing a computer, of occurrence of a risk event subjecting the loan to potential non-payment default and triggering payment of a benefit under the strategy; upon receipt of the notification, utilizing a computer, presenting to an insurer a claim by the creditor; receiving, from the insurer, value equal to the balance of the loan in response to the claim; and updating a record in a database on a computer to reflect the received value.