Method and system of combining money transfer services with life insurance

Abstract

The present invention is a new business method that intends to reduce the risk, help, and protect the economic security of the foreign families who are dependents from the income that come from the foreign workers inside the U.S.A. territory. The invention helps by offering protection through a life insurance by combining the Money Transmission Service and the Life Insurance Service. The invention cares for both the worker residing inside the U.S.A. territory and the family members inside foreign territory.

1 . A system comprising: a computer system of a Money Transfer Company to start the procedure of claiming the money of the life insurance policy for the main policy holder or recipient that is the survivor inside the foreign country; calling for the presentation of the claim of the life insurance policy by reporting the deceased of the sender or complementary policy holder. 
     
     
         2 . The method according to claim  10 , further comprising the steps of: a computer system of a Money Transfer Company that help in the steps of: present the claim of the life insurance policy, the main policy holder must report the deceased of the complementary policy holder; The main policy holder will present the claim to the Insurance Company through the network of payment centers of the Money Transfer Company; the system of the Money Transfer Company will generate a report and send all the information of the main policy holder claim to the Insurance Company. 
     
     
         3 . The method according to claim  11 , further comprising the steps of: a computer system of the Money Transfer Company will produce a report for the Insurance Company containing the claim information made by the main policy holder through the Money Transfer Company payment centers network. 
     
     
         4 . The method according to claim  12 , further comprising the steps of: a computer system of a Money Transfer Company the complementary policy holder inside the U.S.A. territory can present the claim of the insurance policy through the Money Transfer Company agent inside the U.S.A. territory; then he/she will indicate the address, the name of the agent, and the desired location to receive the amount of the insurance policy inside the U.S.A. territory; the agent will use the Money Transfer System to show detailed information of the complementary policy holder. 
     
     
         5 . The method according to claim  13 , further comprising the steps of: a computer system of the Money Transfer Company will generate a report and send it to the Insurance Company electronically; the report for the Insurance Company will contain the following: the ID number of the policy, the name of the complementary policy holder, the name of the main policy holder, and the date when the report was produced. 
     
     
         6 . The method according to claim  14 , further comprising the steps of a computer system of the Money Transfer Company will create a receipt of the payment for the life insurance policy which will contain the following: the ID number of the insurance policy, the name of the persons covered in the insurance policy, the amount covered by the life insurance policy in U.S. dollars, the exchange rate of the day when the payment will happen, the signed space for the signature of the complementary policy holder survivor of the life insurance policy, the ID number line for the complementary policy holder survivor of the life insurance policy. 
     
     
         7 . The method according to claim  15 , further comprising the steps of: a computer system of the Money Transfer Company will create a control report of the payment for the life insurance policy which will contain the following: the date, the agent's name, agent's address, the ID number of the insurance policy, agent's commission, the amount for the life insurance policy, and the name of the complementary policy holder survivor of the life insurance policy. 
     
     
         8 . A system comprising: When the sender or complementary policy holder is the survivor of the policy inside the U.S.A. territory, the sender or complementary policy holder must use the computer system of a Money Transfer Company to start the procedure of claiming the money of the life insurance policy; calling for the presentation of the claim of the life insurance policy by reporting the death, of the main policy holder in a foreign country.