Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Spring Patents Captive Funding Program

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

The U.S. Patent and Trademark Office has granted a patent to a program for funding employee and retiree benefits.

Spring Consultant Group L.L.C., Boston, obtained the patent on a computerized benefits funding program that combines a trust account owned by an employer or employee with at least one life insurance contract or non-cancelable accident and health insurance contract obtained from a captive insurance company.

Trust account assets pay for the life or accident contract, and the captive is at least partly owned by the employer.

Either the employer or the trust can pay claims, and, if the employer pays a claim, the trust can reimburse the employer,

The patent, U.S. Patent Number 7,761,352, is the first that covers an alternative benefits funding mechanism, Spring says.

-ab

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.