MENLO PARK, Calif., March 1, 2013 /PRNewswire/ -- ICAP Patent Brokerage announces for auction a life insurance services IP package from Patented Life, LLC, which includes methods, systems, and products using two or more life insurance policies. This lot will be included in the 18th ICAP Ocean Tomo IP Auction on March 20, 2013 at the Rosewood Sand Hill Hotel in Menlo Park, California.
"We are excited to be offering this innovative insurance services software to our global base of buyers. The IP package is important to insurance and financial services companies wishing to streamline complicated life insurance calculations and policy generation for their customers," says Dean Becker, CEO of ICAP Patent Brokerage.
Key Characteristics & Benefits
The portfolio for sale includes life insurance methods, systems, and products, which revolve around having an insurance plan with at least two separate but related insurance contracts on the same insured individual(s).
The contracts are developed using life insurance product data to create tables from which death benefits and premium obligations, and usually cash values, are determined based upon an insured's gender, age, and other risk factors. The death benefits, premium obligations, and cash values, are divided between the two or more contracts where more of the premium obligations are assigned to one or more of the contracts, while more of the death benefits and cash values, are assigned to one or more of the remaining contracts.
Non-forfeiture and surrender provisions, as well as typical riders, can be added to one or all of the contracts. The death benefits and cash values of the contracts are a function of the premiums paid for all of the contracts.
See this technical description of the life insurance contract solutions IP sales offering.
To learn more about the assets available for sale in this portfolio:
Contact Tim Schnurr of ICAP Patent Brokerage at (212) 815-6693 or via email at Tim.Schnurr@us.icap.com.
Visit our website to make a patent submission for the auction.
About ICAP Patent Brokerage
ICAP Patent Brokerage is a division of ICAP plc and the world's largest intellectual property brokerage and patent auction firm.
ICAP is the world's leading interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.
SOURCE ICAP Patent Brokerage