Abstract: A method and system for managing and administering a financial product having a segment. A fixed indexed crediting strategy is allocated between two or more different types of indexed crediting strategies based on an indicator of market volatility or option costs relative to a defined benchmark. The two or more types of indexed crediting strategies are traditional index linked crediting strategies and at least one volatility-controlled index linked crediting strategy. The method includes determining an indicator and setting a benchmark. The value of the indicator is compared to the value of the benchmark. The system allocates the segment to the traditional index linked crediting strategy or strategies if the indicator is below the benchmark and allocates the segment to the volatility-controlled index linked crediting strategy or strategies if the indicator is above the benchmark.

Abstract: A method and system for online processing of life insurance applications includes receiving information that identifies an individual to be insured and describes the insurability of the individual. A certification may be received via an electronic data communications link confirming whether an illustration of a life insurance policy was delivered to the policy applicant. Furthermore, information may be received via an electronic data communications link from a third party confirming the identity of the individual to be insured. When a commitment to purchase the policy is received, a personalized temporary insurance certificate may be issued to the applicant, preferably accompanied by a temporary insurance agreement specifying the terms of temporary life insurance coverage extended to the individual.

Abstract: Calculation of rider charges to form a basis for a guaranty to ensure guaranteed long-life benefit (GLLB) payments is made possible by using calculator machinery to analyze interest rates, mortality, expenses, and capital/reserves. These payments are a separate income stream from a pledged asset, which may be withdrawn anytime by a guarantee. Mathematical calculation is provided to reduce the guaranteed long-life benefit (GLLB) payments if not all of the rider charges are paid by the guarantee. For those rider charges that are paid using qualified funds, calculation for required minimum distribution is also possible.

Abstract: A method and system for online processing of life insurance applications includes receiving information that identifies an individual to be insured and describes the insurability of the individual. A certification may be received via an electronic data communications link confirming whether an illustration of a life insurance policy was delivered to the policy applicant. Furthermore, information may be received via an electronic data communications link from a third party confirming the identity of the individual to be insured. When a commitment to purchase the policy is received, a personalized temporary insurance certificate may be issued to the applicant, preferably accompanied by a temporary insurance agreement specifying the terms of temporary life insurance coverage extended to the individual.