Patents by Inventor Seth C. Koppes
Seth C. Koppes has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).
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Publication number: 20240046369Abstract: A system and method for administering an insurance policy in general accounts and in separate accounts including a modified stable value protected investment including an improved surrender payment protocol. The system and method includes tracking the value of investments and an MSVP value in a life insurance contract after a termination of life insurance coverage has occurred. When the system determines that the value of the MSVP equals a predetermined value (e.g., zero) or that a maturity date for the policy or stable value protected investment has occurred, the system causes an amount equal to the value of the MSVP division to be paid to the contractholder. Upon such payment, the MSVP product provider shall have no further liability under the MSVP. The contractholder may have an option to elect at any time to receive a payment amount equal to the value of the underlying assets of the stable value protected investment. In such event, the MSVP product provider shall have no further liability under the MSVP.Type: ApplicationFiled: October 12, 2023Publication date: February 8, 2024Applicant: ADDLE MANAGEMENT, LLCInventors: Seth C. KOPPES, William A. MEIER
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Patent number: 11113764Abstract: A system and method for administering an insurance policy in general accounts and in separate accounts including a modified stable value protected investment including an improved surrender payment protocol. The system and method includes tracking the value of investments and an MSVP value in a life insurance contract after a termination of life insurance coverage has occurred. When the system determines that the value of the MSVP equals a predetermined value (e.g., zero) or that a maturity date for the policy or stable value protected investment has occurred, the system causes an amount equal to the value of the MSVP division to be paid to the contractholder. Upon such payment, the MSVP product provider shall have no further liability under the MSVP. The contractholder may have an option to elect at any time to receive a payment amount equal to the value of the underlying assets of the stable value protected investment. In such event, the MSVP product provider shall have no further liability under the MSVP.Type: GrantFiled: April 12, 2013Date of Patent: September 7, 2021Assignee: Addle Management, LLCInventors: Seth C. Koppes, William A. Meier
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Publication number: 20140136244Abstract: Method and system to track, reconcile and administer the values of life insurance policies in separate accounts, including Stable Value Protected funds. Accordingly, targeted returns are translated into unit values on a daily basis for each fund. Additionally the system tracks restrictions (e.g., timing, amount of withdrawal and amount of reallocations) on a premium-by-premium basis, and tracks the book value, market value, duration and targeted return on a client-by-client basis. The system calculates and tracks the payments and credits applicable to a withdrawal or reallocation request, in addition to the liquidation schedules for each fund based on the payment amounts and credits of specific funds. Additionally, daily unit values are calculated given a periodic targeted return (i.e., a quarterly targeted return).Type: ApplicationFiled: January 16, 2014Publication date: May 15, 2014Applicant: BANCORP SERVICES, LLCInventors: Seth C. Koppes, Edward J. Lanigan, William A. Meier, Richard M. Hurwitz, Chris J. Garlich, Mark A. Gilje, Scott L. Fargo
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Patent number: 8639537Abstract: Method and system to track, reconcile and administer the values of life insurance policies in separate accounts, including Stable Value Protected funds. Accordingly, targeted returns are translated into unit values on a daily basis for each fund. Additionally the system tracks restrictions (e.g., timing, amount of withdrawal and amount of reallocations) on a premium-by-premium basis, and tracks the book value, market value, duration and targeted return on a client-by-client basis. The system calculates and tracks the payments and credits applicable to a withdrawal or reallocation request, in addition to the liquidation schedules for each fund based on the payment amounts and credits of specific funds. Additionally, daily unit values are calculated given a periodic targeted return (i.e., a quarterly targeted return).Type: GrantFiled: October 12, 2011Date of Patent: January 28, 2014Assignee: Bancorp Services LLCInventors: Seth C. Koppes, Edward J. Lanigan, William A. Meier, Richard M. Hurwitz, Chris J. Garlich, Mark A. Gilje, Scott L. Fargo
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Publication number: 20120029953Abstract: Method and system to track, reconcile and administer the values of life insurance policies in separate accounts, including Stable Value Protected funds. Accordingly, targeted returns are translated into unit values on a daily basis for each fund. Additionally the system tracks restrictions (e.g., timing, amount of withdrawal and amount of reallocations) on a premium-by-premium basis, and tracks the book value, market value, duration and targeted return on a client-by-client basis. The system calculates and tracks the payments and credits applicable to a withdrawal or reallocation request, in addition to the liquidation schedules for each fund based on the payment amounts and credits of specific funds. Additionally, daily unit values are calculated given a periodic targeted return (i.e., a quarterly targeted return).Type: ApplicationFiled: October 12, 2011Publication date: February 2, 2012Applicant: Bancorp Services, L.L.C.Inventors: Seth C. Koppes, Edward J. Lanigan, William A. Meier, Richard M. Hurwitz, Chris J. Garlich, Mark A. Gilje, Scott L. Fargo
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Publication number: 20110131069Abstract: Method and system to track, reconcile and administer the values of life insurance policies in separate accounts, including Stable Value Protected funds. Accordingly, targeted returns are translated into unit values on a daily basis for each fund. Additionally the system tracks restrictions (e.g., timing, amount of withdrawal and amount of reallocations) on a premium-by-premium basis, and tracks the book value, market value, duration and targeted return on a client-by-client basis. The system calculates and tracks the payments and credits applicable to a withdrawal or reallocation request, in addition to the liquidation schedules for each fund based on the payment amounts and credits of specific funds. Additionally, daily unit values are calculated given a periodic targeted return (i.e., a quarterly targeted return).Type: ApplicationFiled: February 4, 2011Publication date: June 2, 2011Applicant: Bancorp Services, L.L.C.Inventors: Seth C. Koppes, Edward J. Lanigan, William A. Meier, Richard M. Hurwitz, Chris J. Garlich, Mark A. Gilje, Scott L. Fargo
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Patent number: 7249037Abstract: Method and system to track, reconcile and administer the values of life insurance policies in separate accounts, including Stable Value Protected funds. Accordingly, targeted returns are translated into unit values on a daily basis for each fund. Additionally the system tracks restrictions (e.g., timing, amount of withdrawal and amount of reallocations) on a premium-by-premium basis, and tracks the book value, market value, duration and targeted return on a client-by-client basis. The system calculates and tracks the payments and credits applicable to a withdrawal or reallocation request, in addition to the liquidation schedules for each fund based on the payment amounts and credits of specific funds. Additionally, daily unit values are calculated given a periodic targeted return (i.e., a quarterly targeted return).Type: GrantFiled: September 9, 1996Date of Patent: July 24, 2007Assignee: Bancorp Services L.L.P.Inventors: Seth C. Koppes, Edward J. Lanigan, William A. Meier, Richard M. Hurwitz, Chris J. Garlich, Mark A. Gilje, Scott L. Fargo
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Publication number: 20040215493Abstract: Method and system to track, reconcile and administer the values of life insurance policies in separate accounts, including Stable Value Protected funds. Accordingly, targeted returns are translated into unit values on a daily basis for each fund. Additionally the system tracks restrictions (e.g., timing, amount of withdrawal and amount of reallocations) on a premium-by-premium basis, and tracks the book value, market value, duration and targeted return on a client-by-client basis. The system calculates and tracks the payments and credits applicable to a withdrawal or reallocation request, in addition to the liquidation schedules for each fund based on the payment amounts and credits of specific funds. Additionally, daily unit values are calculated given a periodic targeted return (i.e., a quarterly targeted return).Type: ApplicationFiled: September 9, 1996Publication date: October 28, 2004Inventors: SETH C. KOPPES, EDWARD J. LANIGAN, WILLIAM A. MEIER, RICHARD M. HURWITZ, CHRIS J. GARLICH, MARK A. GILJE, SCOTT L. FARGO
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Patent number: 5926792Abstract: Method and system to track, reconcile and administer the values of life insurance policies in separate accounts, including Stable Value Protected funds. Accordingly, targeted returns are translated into unit values on a daily basis for each fund. Additionally the system tracks restrictions (e.g., timing, amount of withdrawal and amount of reallocations) on a premium-by-premium basis, and tracks the book value, market value, duration and targeted return on a client-by-client basis. The system calculates and tracks the payments and credits applicable to a withdrawal or reallocation request, in addition to the liquidation schedules for each fund based on the payment amounts and credits of specific funds. Additionally, daily unit values are calculated given a periodic targeted return (i.e., a quarterly targeted return).Type: GrantFiled: September 18, 1998Date of Patent: July 20, 1999Assignee: Bancorp Services, Inc.Inventors: Seth C. Koppes, Edward J. Lanigan, William A. Meier, Richard M. Hurwitz, Chris J. Garlich, Mark A. Gilje, Scott L. Fargo