US 7,890,359

Method for 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 health insurance is purchased, during which the health status of the insured is maintained or improved, the insured may link the health insurance policy with one or more other types of insurance policies, such as; life, disability, nursing home, etc. Throughout the life of the policy, portions of the premiums may be deposited in an escrow account, provided that the health of the insured is maintained or improved, which may be utilized to pay or help pay for the linked insurance and may also be utilized for retirement benefits.

Independent Claims:

1. A method capable of providing a health insurance program, comprising
   1. receiving a request from an individual for insurance coverage
   2. for a first time period, calculating, with a computer, a first premium for providing insurance coverage to the individual during the first time period based on a first health examination of the individual
   3. charging the individual the first premium and providing insurance coverage to the individual during the first time period
   4. for a second time period subsequent to the first time period, calculating, with the computer, a second premium for providing insurance coverage to the individual during the second time period based on a second health examination of the individual
   5. determining, with the computer, that the second premium is less the first premium
   6. charging the individual the first premium and providing insurance to the individual during the second time period
   7. depositing the difference between the first premium and the second premium in an account crediting the individual, thereby providing a health maintenance incentive for the individual
   8. establishing a predetermined time period after which the individual may elect one or more other insurance coverages comprising guaranteed issue life insurance, credit life insurance, second to die life insurance, children’s life insurance, critical illness insurance, burial insurance, dental insurance, health maintenance organization insurance (HMO’s), preferred provider insurance (PPO’s), medical savings accounts, catastrophic insurance and annuities
   9. calculating, with a computer, a premium for the elected one or more other insurance coverage and:
   10. linking the elected one or more other insurance coverage with the insurance coverage upon payment of the premium for the one or more other insurance coverage
2. A method capable of providing a life insurance program, comprising:
   1. receiving a request from an individual for insurance coverage
   2. for a first time period, calculating, with a computer, a first premium for providing insurance coverage to the individual during the first time period based on a first health examination of the individual
   3. charging the individual the first premium and providing insurance coverage to the individual during the first time period
   4. for a second time period subsequent to the first time period, calculating, with the computer, a second premium for providing insurance coverage to the individual during the second time period based on a second health examination of the individual
   5. determining, with the computer, that the second premium is less the first premium
   6. charging the individual the first premium and providing insurance to the individual during the second time period
   7. depositing the difference between the first premium and the second premium in an account crediting the individual, thereby providing a health maintenance incentive for the individual
   8. establishing a predetermined time period after which the individual may elect one or more other insurance coverages comprising:
      guaranteed issue life insurance, credit life insurance, second to die life insurance, children’s life insurance, critical illness insurance, burial insurance, dental insurance, health maintenance organization insurance (HMO), preferred provider insurance (PPO’s), medical savings accounts, catastrophic insurance and annuities
   9. calculating, with a computer, a premium for the elected one or more other insurance coverage; and
   10. linking the elected one or more other insurance coverage with the insurance coverage upon payment of the premium for the one or more other insurance coverage
3. A method for providing insurance establishing a life benefit for the insured utilizing data coupled to a computer programmed to compute premiums to be paid for the insurance, the data derived from an examination comprising the steps of:
   1. examining an individual for a first time to establish first health factor data
   2. providing the first health factor data to the computer for a calculation of a first premium
   3. examining the individual for a second time, after a predetermined interval from the first time, to provide a second health factor data
   4. providing the second health factor data to the computer for the calculation of a second premium
   5. determining, with the computer, that the second premium is less than the first premium
   6. the insured paying the first premium for insurance
   7. depositing the difference between the first and second premiums into an account crediting the insured, thereby linking health and wealth and establishing a life benefit for the insured
4. A method for providing insurance establishing a reverse viatical for an insured utilizing data coupled to a computer programmed to compute premiums to be paid for the insurance, the data derived from an examination comprising the steps of:
   1. examining an individual for a first time to establish first health factor data
   2. providing the first health factor data to the computer for a calculation of a first premium
   3. examining the individual for a second time, after a predetermined interval from the first time, to provide a second health factor data
   4. providing the second health factor data to the computer for the calculation of a second premium
   5. determining, with the computer, that the second premium is less than the first premium
   6. the insured paying the first premium for insurance
   7. depositing the difference between the first and second premiums into an account crediting the insured
   8. establishing a guaranteed maturity value for the insurance
   9. achieving the guaranteed maturity value in the account
   10. providing an option for the insured to request the maturity value, or purchase an annuity with the monies in the account, thereby providing a reverse viatical for the insured
5. A method for providing insurance establishing a reverse viatical for an insured utilizing data coupled to a computer programmed to compute premiums to be paid for the insurance, the data derived from an examination comprising the steps of:
   1. examining an individual for a first time to establish first health factor data
   2. providing the first health factor data to the computer for a calculation of a first premium
   3. examining the individual for a second time, after a predetermined interval from the first time, to provide a second health factor data
   4. providing the second health factor data to the computer for the calculation of a second premium
   5. determining, with the computer, that the second premium is less than the first premium
   6. the insured paying the first premium for insurance
   7. depositing the difference between the first and second premiums into an account crediting the insured
   8. providing an option for the insured including a request for credit in the account, applying the credit in the account to pay premiums for other insurance policies, purchasing other insurance policies and linking insurance policies, thereby providing a reverse viatical for the insured