Richard Clifford Dutton

US Patent:

7966198, Jun 21, 2011

Filed:

Dec 28, 2005

Appl. No.:

11/320284

Inventors:

James Pickard - Broomall PA, US
Edward Johnston - Malvern PA, US
Richard Dutton - Bala Cynwyd PA, US
Ronald Lafkoski - Quakertown PA, US

Assignee:

Mass Marketing Insurance Group - Wayne PA

International Classification:

G06Q 40/00

US Classification:

705 4, 705 35

Abstract:

A method and system for pricing, designing, and marketing, insurance policy contracts is disclosed. The policy contracts comprise a first period of coverage for a first benefit amount for which a premium is paid to an insurer on behalf of an insured person by a sponsoring organization and a second period of coverage for a second benefit amount for which a premium is paid to the insurer by the insured person, wherein prior to the first period of coverage, the insurer obtains authorization from the insured to have premiums for the second period paid automatically from an account, comprising the steps of charging the sponsoring organization a premium for the first period of coverage upon entering into a policy contract between the insurer and the insured, and automatically charging one or more premiums to the account of the insured at the end of the first period and during the second period of coverage.