System and method for life insurance investment vehicle
US008346648B1
(12) United States Patent
(10) Patent N0.: (45) Date of Patent:
Kosmos (54)
2008/0065425 A1*
SYSTEM AND METHOD FOR LIFE INSURANCE INVESTMENT VEHICLE
3/2008
US 8,346,648 B1 Jan. 1, 2013 Giuffre et al. ................... .. 705/4
2008/0294566 A1* 11/2008 Hendrix et al. 2009/0037226 A1*
2/2009
705/36 R
Radin ............................. .. 705/4
OTHER PUBLICATIONS
(75) Inventor: George Chris Kosmos, Seattle, WA (Us) (73) Assignee: Aiolian LLP, Seattle, WA (US)
Sondergeld, Eric T. “In Search of the Perfect In?ation hedge” Winter 2004 LIMRA’s MarketFacts Quarterly v23n1 pp: 68-71.* Milevsky, Moshe “The Implied Longevity Yield: A Note on Devel
(*)
oping an Index for Life Annuities” Jun. 2005 Journal of Risk & Insurance v72n2 pp: 301-320.*
Notice:
Subject to any disclaimer, the term of this patent is extended or adjusted under 35
U.S.C. 154(b) by 77 days.
(21) Appl. No.: 12/905,640
Eisbruck et al., “Rating Action: Legacy Bene?ts Life Insurance Settlement 2004-1 LLC iMoody’s Rates Legacy Life Settlement SecuritiZation A-1 and Baa2”, Moody’s Investors Service, Global Credit Research, Mar. 16, 2004, 2 pages.
* cited by examiner
(22)
Filed:
Oct. 15, 2010 Primary Examiner * Kelly Campen (74) Attorney, Agent, or Firm * K&L Gates LLP
Related US. Application Data
(60)
Provisional application No. 61/279,030, ?led on Oct.
15, 2009.
(51)
Int. Cl.
related to an investment program for an investment vehicle,
G06Q 40/00
(52) (58)
(57) ABSTRACT Computer systems and computer-implemented methods
(2012.01)
US. Cl. ........................................ .. 705/36 R; 705/4
Field of Classi?cation Search ................ .. 705/4, 2,
705/1.1, 35, 36 R, 36 T, 38, 39, 37, 80 See application ?le for complete search history. (56)
such as a private placement fund, a limited liability partner ship, or a limited liability company, for example, that pur chases a life insurance policy and pair it With one or more annuity contracts on the same donor’s life. The aggregate sum
of the annuity premiums for the annuity contracts may equal, approximately equal, the death bene?t payment amount of the
purchased life insurance policy. Alternatively, the death ben
References Cited U.S. PATENT DOCUMENTS 7,640,202 B2 *
12/2009
Foti et al. .
. 705/36 R
2001/0011223 A1*
8/2001
Burke .... ..
705/4
2002/0087365 A1*
7/2002 Kavanaugh
705/4
2003/0074233 A1*
4/2003
705/4
2003/0105701 A1*
6/2003 Brown et al.
2004/0181436 A1*
9/2004
Lange .... ..
705/4
2005/0216316 A1*
9/2005
Brisbois et
. ................. .. 705/4
Lee ............ ..
.. 705/36
e?t payment amount of the purchased life insurance policy may exceed, or greatly exceed, the annuity premiums for the annuity contracts. In addition, the ongoing annuity payments preferably are greater than the life insurance premiums, thereby providing investment vehicle and its investors With a positive rate of return that can be much higher than conven tional ?xed income investments.
16 Claims, 13 Drawing Sheets 62
64
Find Suitab‘e
Gather insurance
Transmit Medical
Donor
Info and Medical
Records to Annuity
Records
Contract Providers 66
60
70
68
Determine
Determine Policy Modi?cations
Expected Cash Flows 72
Accept
74
YES
Donation?
Receive Annuity Contract Quotes
Change Ownership of Life Ins Policy 78
Purchase Annuity Contracts 80
Setup
Obtain Appraisal 82
Ongoing Through Life of Donor
Upon Death of Donor
Receive Death Noti?cation
Obtain Death
Certi?cate
Apply for Death Bene?t
US. Patent
Jan. 1, 2013
Sheet 1 0f 13
US 8,346,648 B1
5 :54 pumbco $25K
w?mpcgu coBmNELO
VldS
5 E BE S 625E
@F/ wp/
‘7%
£55:8.2:6E5 oP\1\
a:.8.E
5 c < Umbcou 625E
w~%
US. Patent
Jan. 1, 2013
Sheet 2 0f 13
US 8,346,648 B1
s\\
QSCEU cosmNEk 2:.8.2
Loc s
91AU1.8m.WUrAuEV
d
5:c243 info and Medical
Donor
US 8,346,648 B1
> Records to Annuity .
Records
70 Determine
Contract Providers
H68 .
nsure
Transmit Medical
info and
> Records to Annuity
Medical Records
f4 2 i 2 Determine Expected 4 Cash Flows
H2i O Determine Policy 4 Modifications
2i4
No
Contract Providers
v 208 Receive Annuity Contract Quotes
2i 8
Yes
Cong
Pure-h8g9
P rchage/Liezo
> Funds From
POI'CY'
; insurance Polic
investors
y
2 2 2 \x v Borrow Funds
/2l 6 .
Setup
2 24
v
.
Purchase Annuity
Obtain Appraisal
Contracts
____________________ 3-2-56_““f“_““““““"n"
Pay insurance
(12) United States Patent
(10) Patent N0.: (45) Date of Patent:
Kosmos (54)
2008/0065425 A1*
SYSTEM AND METHOD FOR LIFE INSURANCE INVESTMENT VEHICLE
3/2008
US 8,346,648 B1 Jan. 1, 2013 Giuffre et al. ................... .. 705/4
2008/0294566 A1* 11/2008 Hendrix et al. 2009/0037226 A1*
2/2009
705/36 R
Radin ............................. .. 705/4
OTHER PUBLICATIONS
(75) Inventor: George Chris Kosmos, Seattle, WA (Us) (73) Assignee: Aiolian LLP, Seattle, WA (US)
Sondergeld, Eric T. “In Search of the Perfect In?ation hedge” Winter 2004 LIMRA’s MarketFacts Quarterly v23n1 pp: 68-71.* Milevsky, Moshe “The Implied Longevity Yield: A Note on Devel
(*)
oping an Index for Life Annuities” Jun. 2005 Journal of Risk & Insurance v72n2 pp: 301-320.*
Notice:
Subject to any disclaimer, the term of this patent is extended or adjusted under 35
U.S.C. 154(b) by 77 days.
(21) Appl. No.: 12/905,640
Eisbruck et al., “Rating Action: Legacy Bene?ts Life Insurance Settlement 2004-1 LLC iMoody’s Rates Legacy Life Settlement SecuritiZation A-1 and Baa2”, Moody’s Investors Service, Global Credit Research, Mar. 16, 2004, 2 pages.
* cited by examiner
(22)
Filed:
Oct. 15, 2010 Primary Examiner * Kelly Campen (74) Attorney, Agent, or Firm * K&L Gates LLP
Related US. Application Data
(60)
Provisional application No. 61/279,030, ?led on Oct.
15, 2009.
(51)
Int. Cl.
related to an investment program for an investment vehicle,
G06Q 40/00
(52) (58)
(57) ABSTRACT Computer systems and computer-implemented methods
(2012.01)
US. Cl. ........................................ .. 705/36 R; 705/4
Field of Classi?cation Search ................ .. 705/4, 2,
705/1.1, 35, 36 R, 36 T, 38, 39, 37, 80 See application ?le for complete search history. (56)
such as a private placement fund, a limited liability partner ship, or a limited liability company, for example, that pur chases a life insurance policy and pair it With one or more annuity contracts on the same donor’s life. The aggregate sum
of the annuity premiums for the annuity contracts may equal, approximately equal, the death bene?t payment amount of the
purchased life insurance policy. Alternatively, the death ben
References Cited U.S. PATENT DOCUMENTS 7,640,202 B2 *
12/2009
Foti et al. .
. 705/36 R
2001/0011223 A1*
8/2001
Burke .... ..
705/4
2002/0087365 A1*
7/2002 Kavanaugh
705/4
2003/0074233 A1*
4/2003
705/4
2003/0105701 A1*
6/2003 Brown et al.
2004/0181436 A1*
9/2004
Lange .... ..
705/4
2005/0216316 A1*
9/2005
Brisbois et
. ................. .. 705/4
Lee ............ ..
.. 705/36
e?t payment amount of the purchased life insurance policy may exceed, or greatly exceed, the annuity premiums for the annuity contracts. In addition, the ongoing annuity payments preferably are greater than the life insurance premiums, thereby providing investment vehicle and its investors With a positive rate of return that can be much higher than conven tional ?xed income investments.
16 Claims, 13 Drawing Sheets 62
64
Find Suitab‘e
Gather insurance
Transmit Medical
Donor
Info and Medical
Records to Annuity
Records
Contract Providers 66
60
70
68
Determine
Determine Policy Modi?cations
Expected Cash Flows 72
Accept
74
YES
Donation?
Receive Annuity Contract Quotes
Change Ownership of Life Ins Policy 78
Purchase Annuity Contracts 80
Setup
Obtain Appraisal 82
Ongoing Through Life of Donor
Upon Death of Donor
Receive Death Noti?cation
Obtain Death
Certi?cate
Apply for Death Bene?t
US. Patent
Jan. 1, 2013
Sheet 1 0f 13
US 8,346,648 B1
5 :54 pumbco $25K
w?mpcgu coBmNELO
VldS
5 E BE S 625E
@F/ wp/
‘7%
£55:8.2:6E5 oP\1\
a:.8.E
5 c < Umbcou 625E
w~%
US. Patent
Jan. 1, 2013
Sheet 2 0f 13
US 8,346,648 B1
s\\
QSCEU cosmNEk 2:.8.2
Loc s
91AU1.8m.WUrAuEV
d
5:c243 info and Medical
Donor
US 8,346,648 B1
> Records to Annuity .
Records
70 Determine
Contract Providers
H68 .
nsure
Transmit Medical
info and
> Records to Annuity
Medical Records
f4 2 i 2 Determine Expected 4 Cash Flows
H2i O Determine Policy 4 Modifications
2i4
No
Contract Providers
v 208 Receive Annuity Contract Quotes
2i 8
Yes
Cong
Pure-h8g9
P rchage/Liezo
> Funds From
POI'CY'
; insurance Polic
investors
y
2 2 2 \x v Borrow Funds
/2l 6 .
Setup
2 24
v
.
Purchase Annuity
Obtain Appraisal
Contracts
____________________ 3-2-56_““f“_““““““"n"
Pay insurance
