US Patent:
20080288298, Nov 20, 2008
Inventors:
Eswarahalli S. Dattatreya - Summit NJ, US
International Classification:
G06Q 40/00
Abstract:
The invention generally concerns systems and methods for providing low-cost insurance to a group of individuals seeking insurance. The system and method may determine a group of individuals to be insured. The individuals may be pooled into a collective entity. The entity may be provided with one or more financing instruments. The financing instruments may be used to purchase insurance policies for the individuals in the pool. In some cases the pool may hold the policies as a custodian, paying maintenance fees on the policies and distributing cash flows from the maturity of the policies.