The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Mar. 27, 2012
Filed:
Oct. 15, 2009
Jeffrey S. Lange, New York, NY (US);
Jeffrey M. Lewis, New York, NY (US);
Jeffrey S. Lange, New York, NY (US);
Jeffrey M. Lewis, New York, NY (US);
Guggenheim Partners, LLC, New York, NY (US);
Abstract
A corporate owned life insurance product with death benefits (COLI-DB) that has no cash value and is minimally funded. The policy holder selects an election to mark to market accounting for life insurance. Thus, the COLI-DB has no cash surrender value. The net present value of the COLI-DB can be more than zero (and quite high) so there is no impact to net income and there may even be net income in the first year. The COLI-DB system may optimize returns by using new accounting rules in contrast to the traditional approach of COLI-CV, and returning death benefits through a captive to increase returns.