Patents Assigned to Bankers Insurance Group, Inc.
  • Method and system for converting an annuity fund to a life insurance policy
    Patent number: 8112336
    Abstract: A method and system for converting an annuity fund to a life insurance policy at a predetermined conversion date comprising the following steps: establishing an annuity fund of a predetermined value and purchasing a fixed or variable annuity for the annuity fund, establishing an irrevocable life insurance conversion plan including selecting the predetermined conversion date, selecting a predetermined mortality death benefit at the predetermined conversion date and purchasing a guaranteed insurability option to guarantee the availability of the predetermined mortality death benefit at the predetermined conversion date, accruing investment income within the annuity fund on a tax deferred basis until the predetermined conversion date, converting the annuity fund to the life insurance policy with the predetermined mortality death benefit at the predetermined conversion date, accruing income within the life insurance policy until the death of the insured under the life insurance policy and disbursing the death ben
    Type: Grant
    Filed: May 15, 2008
    Date of Patent: February 7, 2012
    Assignee: Bankers Insurance Group, Inc.
    Inventor: Robert Menke
  • Method and system for converting an annuity fund to a life insurance policy
    Patent number: 8112334
    Abstract: A method and system for converting an annuity fund to a life insurance policy at a predetermined conversion date comprising the following steps: establishing an annuity fund of a predetermined and purchasing a fixed annuity for the annuity fund, establishing an irrevocable life insurance conversion plan including selecting the predetermined conversion date, selecting a predetermined mortality death benefit at the predetermined conversion date and purchasing a guaranteed insurability option to guarantee the availability of the predetermined mortality death benefit at the predetermined conversion date, accruing fixed investment income within the annuity fund on a tax deferred basis until the predetermined conversion date, converting the annuity fund to the life insurance policy with the predetermined mortality death benefit at the predetermined conversion date, accruing income within the life insurance policy until the death of the insured under the life insurance policy and disbursing the death benefit consist
    Type: Grant
    Filed: October 22, 2007
    Date of Patent: February 7, 2012
    Assignee: Bankers Insurance Group, Inc.
    Inventor: Robert Menke
  • Method and system for converting an annuity fund to a life insurance policy
    Patent number: 7343333
    Abstract: A method and system for converting an annuity fund to a life insurance policy at a predetermined conversion date comprising the following steps: establishing an annuity fund including selecting an initial predetermined value and purchasing an annuity for the initial predetermined value, establishing an irrevocable life insurance conversion plan including selecting the predetermined conversion date, selecting a predetermined mortality death benefit at the predetermined conversion date and purchasing a guaranteed insurability option to guarantee the availability of the predetermined mortality death benefit at the predetermined conversion date, accruing investment income within the annuity fund on a tax deferred basis until the predetermined conversion date, converting the annuity fund to the life insurance policy with the predetermined mortality death benefit at the predetermined conversion date, accruing income within the life insurance policy until the death of the owner of the life insurance policy and disbu
    Type: Grant
    Filed: August 10, 2001
    Date of Patent: March 11, 2008
    Assignee: Bankers Insurance Group, Inc.
    Inventor: Robert Menke