Method of Purchasing a Product to Avoid Adverse Selection

Abstract

A method for providing automatic purchase of products, such as insurance products, by one or more third parties acting on behalf of a purchaser and for automatic deductions from an income source to pay for the product utilizes stored data regarding the products, information provided to a purchaser from the stored data based upon inquiries from the purchaser and concluding a purchase or not along with payment for the purchaser.

What is claimed: 
     
         1 . A method for automatically selling an investment and using the proceeds to purchase an insurance product, comprising the steps of:
 storing personal information corresponding to the investor in a computerized database;   using a computer to automatically purchase an insurance product with the proceeds of the sale of one or more investments in an investment vehicle;   using a computer to inform the investor of the automatic sale of the investment and the automatic purchase of the insurance product; using a computer to inform the investor that the investor may opt out of the purchase;   where the investor does choose to opt out using a computer to record the decision of the investor and transmit information concerning the opt out to the person operating the investment vehicle concerning the investor's decision.   
     
     
         2 . The method of  claim 1  wherein the insurance product is an annuity. 
     
     
         3 . The method of  claim 2  wherein the insurance product is a deferred annuity. 
     
     
         4 . The method of  claim 3  wherein the deferred annuity in combined with a money management product. 
     
     
         5 . The method of  claim 4  wherein computer and related software are used to determine combinations of deferred annuities and money management which are likely to reduce adverse selection. 
     
     
         6 . A computer system for automatically selling an investment and using the proceeds to purchase an insurance product, comprising: structure for storing information personal information corresponding to an investor in a computerized database; structure for inputting computer information used to inform the investor concerning the automatic sale of the investment; structure for automatically purchasing the insurance product; structure for inputting computer information to inform the investor that the investor may opt out of the purchase; and structure for recording a decision to opt out and transmit the decision to the operator of the investment vehicle. 
     
     
         7 . The system of  claim 6 , further comprising structure and related software for purchasing a product which is an annuity. 
     
     
         8 . The system of  claim 7 , further comprising structure and related software for purchasing an annuity which is a deferred annuity. 
     
     
         9 . The system of  claim 7 , further comprising structure and related software for combining the annuity with a money management product. 
     
     
         10 . The system of  claim 9 , further comprising structure and related software for projecting combinations of annuities and money-management products which are likely to reduce adverse selection.