US 8,527,304

Method of Linking Insurance Policies

Abstract

An insurance program that provides improved health care and longevity by emphasizing health improvement and maintenance. After a predetermined waiting period from the time insurance is purchased, during which the health status of the insured is maintained or improved, the insured may link the insurance policy with one or more other types of insurance policies, such as; health life, disability, nursing home, etc. Throughout the life of the policy, portions of the premiums may be credited to the insured, provided that the health of the insured is maintained or improved, which may be utilized to pay or help pay for the linked insurance coverage and may also be utilized for retirement benefits.

Independent Claims

What is claimed is:

1. A method for providing insurance to one or more individuals, the individuals forming a group, comprising the steps of:
   1. receiving a request from the group for insurance
   2. examining the group, thereby providing a first examination, to determine initial health status data for the one or more individuals in the group
   3. providing the initial health status data to a computer
   4. calculating, with the computer, an initial premium for insurance for each of the one or more individuals utilizing the initial health status data
   5. paying the initial premium by the group and the group becoming insured
   6. providing health examinations after the first health examination for the group
   7. determining updated health status data after each examination for each of the one or more individuals
   8. entering the updated health status data for each of the one or more individuals into the computer and computing an updated premium for each of the one or more individuals in accordance with the updated health status data; and
   9. crediting differences determined by the computer between the initial premium and the updated premium to each of the one or more individuals for whom the initial premium is greater than the updated premium, thereby establishing accumulated credit.
2. A method in accordance with claim 1 further including the steps of:
   1. establishing a predetermined time period after which the one or more individuals in the group may elect one or more other insurance coverage
   2. utilizing health status data in the computer to calculate premiums for the group for the elected one or more other insurance coverage
   3. adding the premium for the elected one or more other insurance coverage to the initial premium, thereby establishing a linked insurance coverage premium, and
   4. linking the elected one or more other insurance coverage with the insurance coverage upon payment of the linked insurance coverage premium