US 8,185,416

Method for Linking Insurance Policies

Abstract

An insurance program that provides improved health care and longevity by emphasizing health improvement and maintenance for members of a group. After a predetermined waiting period from the time insurance is purchased by the group, during which the health status of the members is maintained or improved, the insured group may link the insurance policy with one or more other types of insurance policies, such as; disability, nursing home, etc. Throughout the life of the policy, portions of the premiums may be deposited in an account for the benefit of the group or for each member of the group, provided that the overall health of the group or the member is maintained or improved. The account 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 for providing a group insurance program, comprising:
    1. receiving a request from a group of individuals for group insurance coverage
    2. calculating, with a computer, a first premium for providing insurance coverage to the group during a first time period based on a first health examination of each individual in the group
    3. charging the group the first premium and providing insurance coverage to the group during the first time period
    4. calculating, with the computer, a second premium for providing insurance coverage to the group for a second time period, the second premium being based on a second health examination of each individual in the group
    5. determining, with the computer, that the second premium is less the first premium
    6. charging the group the first premium and providing insurance to the group during the second time period
    7. depositing the difference between the first premium and the second premium in an account crediting the group, thereby providing a health maintenance incentive for the group
  2. A method for providing insurance for a group of individuals utilizing a computer to compute health factors and premiums to be paid for the insurance, comprising:
    1. examining each 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. the individuals paying the first premium and becoming insured
    4. examining each individual for a second time, after a predetermined interval from the first time, to provide second health factor data
    5. providing the second health factor data to the computer for the calculation of a second premium
    6. determining, by the computer, that the second premiums is less than the first premium
    7. the insureds paying the first premium for insurance
    8. depositing the difference between the first and second premiums into an account crediting the insureds
    9. monies in the account linking health and wealth, thereby establishing a life benefit for the insured's