Inventors:
Mark Livingston - Salt Lake City UT, US
Assignee:
Lifewise Family Financial Security, Inc.
International Classification:
G06F017/60
Abstract:
A method for providing lines of credit or loans to terminally ill and health-compromised individuals who have a qualified life insurance policy. The loans are secured by the policy. No scheduled payments are required, and upon death, the company collects the benefits of the life insurance policy, pays off the loan (and premiums advanced by the lender plus origination fees and accrued interest) and gives the remaining funds to the beneficiary designated by the borrower.