Automatic Crediting for Long Term Care Insurance Based on Interest Credits and Insurance Credits

Automatic Crediting for Long Term Care Insurance Based on Interest Credits and Insurance Credits

Excess returns on a portfolio that funds an LTC insurance policy may be shared with policyholders by determining an excess return for the portfolio, automatically determining interest credits for a policyholder based on the excess return, automatically determining insurance credits for the policyhol...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: O'SULLIVAN DARAGH M, ROKOSH BRADLEY SCOTT, GITTINS GEOFF, SILVA A. ALEX, PLUMB DAVID RAY
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:Excess returns on a portfolio that funds an LTC insurance policy may be shared with policyholders by determining an excess return for the portfolio, automatically determining interest credits for a policyholder based on the excess return, automatically determining insurance credits for the policyholder based on previous period gains or losses of the long-term care insurance policy and apportioned to individual policyholders, automatically determining potential earnings credits for the policyholder based on the determined interest credits and insurance credits, and automatically providing a benefit to the policyholder and updating a policyholder record maintained in a tangible non-transitory computer-readable storage based on the determined potential earnings credits.