Method and system for processing federally insured annuity and life insurance investments

Claim 2

A computer-based method for electronically processing transactional data and monitoring funds for a plurality of annuities, purchased by a plurality of customers funding said annuities, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: electronically identifying, inputting and storing annuity fund data, associated customer data, annuity beneficiary data, and banking institution data; electronically classifying and labeling all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary with a non-available banking institutions label for each respective annuity beneficiary after the step of identifying; electronically determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not labeled as a non-available banking institution, exceeds said insured fund limit and if so, classifying and electronically labeling said one banking institution with said non-available banking institution label for said single annuity beneficiary; electronically commanding and ordering the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to a certificate of deposit issued by another one of said plurality of banking institutions which is not labeled as a non-available banking institution; and, electronically determining the excess funds over said insured fund limit, classifying and electronically labeling the banking institution as non-available, and commanding and electronically ordering the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 3

A method as claimed in claim 1 wherein the step of identifying and storing includes identifying and storing annuity fund data, which describes each annuity fund that is established for the benefit of each annuity beneficiary; wherein said associated customer data identifies the person funding the annuity; wherein said annuity beneficiary data identifies the beneficiary of the annuity; and wherein said banking institution data, identifies all banking institutions holding said annuity funds for respective annuity beneficiaries.

Claim 4

A method as claimed in claim 2 including the steps of: electronically inputting data regarding government established depositor's insurance limit value; establishing said predetermined insured limit as one of said depositor's insurance limit value or a predetermined lower value.

Claim 5

A method as claimed in claim 3 wherein the step of identifying includes the step of identifying annuity funds as qualified annuity funds and unqualified annuity funds wherein said qualified annuity funds are protectable under said depositor's insurance and said unqualified annuity funds are not protectable under said depositor's insurance.

Claim 6

A method as claimed in claim 4 including the step of electronically maintaining and producing, prior to a pooled investment, a list of available banking institutions, which have not been classified as non-available banking institutions, and a list of non-available labeled banking institutions for each respective annuity beneficiary.

Claim 7

A method as claimed in claim 4 wherein the step of determining whether the sum of all annuity funds exceeds said predetermined insured limit includes the step of summing all interest payments made on annuity funds and designated for said one banking institution.

Claim 8

A method as claimed in claim 5 including the steps of electronically identifying and storing certificate of deposit data along with said annuity fund data, said certificate of deposit data including information relative to a due date of respective certificates of deposit, and including the step of electronically declassifying a respective banking institution from non-available to available when a corresponding certificate of deposit is due.

Claim 9

A computer-based method for electronically processing and monitoring funds for a plurality of annuities, purchased by a plurality of customers funding said annuities, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: providing a computer system for the input, output, correlation and storage of customer data, annuity beneficiary data, annuity fund data, and banking institution data; via said computer system: (a) electronically identifying and storing data describing each annuity fund, held for the benefit of each annuity beneficiary, and associated customer data, representing the person funding the annuity, annuity beneficiary data, representing the beneficiary of the annuity, and banking institution data, representing all banking institutions holding said annuity funds of said plurality of banking institutions; (b) electronically classifying and labeling all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary; (c) electronically calculating the sum of all annuity funds identified with a single annuity beneficiary designated for certificates of deposit issued by one of said plurality of banking institutions which is not labeled as a non-available banking institution; (d) electronically determining whether the sum obtained in step (c) exceeds said insured fund limit and if so, classifying and electronically labeling said one banking institution as a non-available banking institution for said single annuity beneficiary; (e) electronically commanding and ordering the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to a certificate of deposit issued by another one of said plurality of banking institutions which is not labeled as a non-available banking institution; (f) repeating steps (c) through (e) for all banking institutions designated and electronically identified to hold annuity funds for said single annuity beneficiary to obtain the benefit of said depositor's insurance for qualified annuity funds; (g) repeating steps (c) through (f) for all annuity beneficiaries; (i) generating a periodic printed out report showing the sum of all annuity funds for a respective annuity beneficiary provided by a corresponding customer and which obtain the benefit of said depositor's insurance for said qualified annuity funds; and, (j) generating at least one further printed out report showing all non-available banking institutions for each said respective annuity beneficiary.

Claim 10

A computer-based method for electronically processing and monitoring funds for a plurality of annuities, purchased by a plurality of customers funding said annuities, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: providing a computer system for the input, output, correlation and storage of customer data, annuity beneficiary data, annuity fund data, and banking institution data; via said computer system: (a) electronically identifying and storing data describing each annuity fund, held for the benefit of each annuity beneficiary, and associated customer data, representing the person funding the annuity, annuity beneficiary data, representing the beneficiary of the annuity, and banking institution data, representing all banking institutions holding said annuity funds of said plurality of banking institutions; (b) electronically classifying and labeling all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary; (c) electronically calculating the sum of all annuity funds identified with a single annuity beneficiary designated for certificates of deposit issued by one of said plurality of banking institutions which is not labeled as a non-available banking institution; (d) electronically determining whether the sum obtained in step (c) exceeds said insured fund limit and if so, classifying and electronically labeling said one banking institution as a non-available banking institution for said single annuity beneficiary; (e) electronically commanding and ordering the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to a certificate of deposit issued by another one of said plurality of banking institutions which is not labeled as a non-available banking institution; (f) repeating steps (c) through (e) for all banking institutions designated and electronically identified to hold annuity funds for said single annuity beneficiary to obtain the benefit of said depositor's insurance for qualified annuity funds; (g) repeating steps (c) through (f) for all annuity beneficiaries; (i) generating a periodic printed out report showing the sum of all annuity funds for a respective annuity beneficiary provided by a corresponding customer and which obtain the benefit of said depositor's insurance for said qualified annuity funds; and, (j) generating at least one further printed out report showing all non-available banking institutions for each said respective annuity beneficiary.

Claim 11

A method as claimed in claim 8 including the steps of: electronically inputting data regarding government established depositor's insurance limit value; establishing said predetermined insured limit as one of said depositor's insurance limit value or a predetermined lower value.

Claim 12

A method as claimed in claim 9 wherein the step of identifying includes the step of identifying annuity funds as qualified annuity funds and unqualified annuity funds wherein said qualified annuity funds are protectable under said depositor's insurance and said unqualified annuity funds are not protectable under said depositor's insurance.

Claim 13

A method as claimed in claim 10 including the step of electronically maintaining a list of available banking institutions, which have not been classified as non-available banking institutions, and non-available banking institutions for each respective annuity beneficiary.

Claim 14

A method as claimed in claim 10 wherein the step of determining whether the sum of all annuity funds exceeds said predetermined insured limit includes the step of summing all interest payments made on annuity funds and designated for said one banking institution.

Claim 15

A method as claimed in claim 11 including the steps of electronically identifying and storing certificate of deposite data along with said annuity fund data, said certificate of deposit data including information relative to a due date of respective certificates of deposit, and including the step of electronically declassifying a respective banking institution from non-available to available when a corresponding certificate of deposit is due.

Claim 16

A computer-based method for electronically processing transactional data and monitoring funds for a plurality of annuities, purchased by a plurality of customers funding said annuities, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: electronically identifying, inputting and storing annuity fund data, associated customer data, annuity beneficiary data, and banking institution data; electronically classifying all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary; establishing a predetermined fund limit less than said predetermined insured limit; electronically determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified as a non-available banking institution, exceeds said predetermined fund limit and if so, classifying said one banking institution as an deposit capped banking institution for said single annuity beneficiary; electronically inputting data relative to interest payments made on all annuity funds held in deposit capped banking institutions for a respective annuity beneficiary and determining whether all annuity funds identified with said single annuity beneficiary and designated for said one banking institution, including interest payments, exceeds said insured fund limit and if so, classifying said deposit capped banking institution as a non-available banking institution; electronically commanding the transfer of all additional annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said predetermined fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, electronically determining the excess funds over said predetermined fund limit and said insured fund limit, classifying the banking institution as deposit capped and non-available, respectively, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 17

A computer-based method for electronically processing transactional data and monitoring funds for a plurality of annuities, purchased by a plurality of customers funding said annuities, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: electronically identifying, inputting and storing annuity fund data, associated customer data, annuity beneficiary data, and banking institution data; electronically classifying all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary; establishing a predetermined fund limit less than said predetermined insured limit; electronically determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified as a non-available banking institution, exceeds said predetermined fund limit and if so, classifying said one banking institution as an deposit capped banking institution for said single annuity beneficiary; electronically inputting data relative to interest payments made on all annuity funds held in deposit capped banking institutions for a respective annuity beneficiary and determining whether all annuity funds identified with said single annuity beneficiary and designated for said one banking institution, including interest payments, exceeds said insured fund limit and if so, classifying said deposit capped banking institution as a non-available banking institution; electronically commanding the transfer of all additional annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said predetermined fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, electronically determining the excess funds over said predetermined fund limit and said insured fund limit, classifying the banking institution as deposit capped and non-available, respectively, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 18

A computer-based system for electronically processing annuity funds to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based system comprising: means for electronically inputting and storing annuity fund data and associated customer data, annuity beneficiary data, and banking institution data; means for classifying, electronically labeling and maintaining an electronically callable and displayable list of all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary; means for determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified and labeled as a non-available banking institution, exceeds said insured fund limit and if so, classifying and automatically and electronically labeling said one banking institution with a non-available banking institution label for said single annuity beneficiary; means for commanding and electronically ordering the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to a certificate of deposit issued by another one of said plurality of banking institutions which is not labeled as a non-available banking institution; and, means for determining excess funds over said insured fund limit, classifying and electronically labeling the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 19

A computer-based system for electronically processing annuity funds to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based system comprising: means for electronically inputting and storing annuity fund data and associated customer data, annuity beneficiary data, and banking institution data; means for classifying, electronically labeling and maintaining an electronically callable and displayable list of all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary; means for determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified and labeled as a non-available banking institution, exceeds said insured fund limit and if so, classifying and automatically and electronically labeling said one banking institution with a non-available banking institution label for said single annuity beneficiary; means for commanding and electronically ordering the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to a certificate of deposit issued by another one of said plurality of banking institutions which is not labeled as a non-available banking institution; and, means for determining excess funds over said insured fund limit, classifying and electronically labeling the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 20

A system as claimed in claim 15 including means for maintaining a callable, composite listing of all banking institutions which are not non-available banking institutions for each annuity beneficiary; and means for classifying and maintaining a callable list of all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary.

Claim 21

A system as claimed in claim 16 including means for inputting data regarding government established depositor's insurance limit value; and, means for establishing said predetermined insured limit as one of said depositor's insurance limit value or a predetermined lower value.

Claim 22

A system as claimed in claim 16 wherein said means for classifying utilizes annuity fund data, annuity beneficiary data and banking institution data from said means for inputting and storing and further includes means for identifying annuity funds as qualified annuity funds and unqualified annuity funds wherein said qualified annuity funds are protectable under said depositor's insurance and said unqualified annuity funds are not protectable under said depositor's insurance.

Claim 23

A system as claimed in claim 18 wherein said annuity fund data includes data regarding interest flowing from said annuity funds.

Claim 24

A system as claimed in claim 19 including means for maintaining a callable, composite listing of all banking institutions which are not non-available banking institutions for each annuity beneficiary.

Claim 25

A system as claimed in claim 20 including means for compiling and producing reports showing all available banking institutions for each annuity beneficiary and the sum of all annuity funds for a respective annuity beneficiary which is protected by said depositor's insurance.

Claim 26

A system as claimed in claim 16 wherein said means for inputting and storing includes inputting and storing certificate of deposit data along with said annuity fund data, said certificate of deposit data including information relative to a due date of respective certificates of deposit, and the system includes means for declassifying a respective banking institution from non-available to available when a corresponding certificate of deposit is due and the annuity funds are withdrawn.

Claim 27

A computer-based method for electronically processing transactional data and monitoring funds for a plurality of annuities, purchased by a plurality of customers funding said annuities, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: electronically identifying, inputting and storing annuity fund data, associated customer data, annuity beneficiary data, and banking institution data; electronically classifying and labeling all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary with a non-available banking institutions for each respective annuity beneficiary after the step of identifying; electronically determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not labeled as a non-available banking institution, exceeds said insured fund limit and if so, classifying and electronically labeling said one banking institution with said non-available banking institution labeled for said single annuity beneficiary; electronically commanding the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, electronically determining the excess funds over said insured fund limit, classifying the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 28

A computer-based method for electronically processing transactional data and monitoring funds for a plurality of annuities, purchased by a plurality of customers funding said annuities, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: electronically identifying, inputting and storing annuity fund data, associated customer data, annuity beneficiary data, and banking institution data; electronically classifying and labeling all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary with a non-available banking institutions for each respective annuity beneficiary after the step of identifying; electronically determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not labeled as a non-available banking institution, exceeds said insured fund limit and if so, classifying and electronically labeling said one banking institution with said non-available banking institution labeled for said single annuity beneficiary; electronically commanding the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, electronically determining the excess funds over said insured fund limit, classifying the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 29

A computer-based system for processing annuity funds to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based system comprising: means for inputting and storing annuity fund data and associated customer data, annuity beneficiary data, and banking institution data; means for classifying and maintaining a callable list of all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary; means for determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified as a non-available banking institution, exceeds said insured fund limit and if so, classifying said one banking institution as a non-available banking institution for said single annuity beneficiary; means for commanding the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, means for determining excess funds over said insured fund limit, classifying the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 30

A computer-based system for processing annuity funds to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based system comprising: means for inputting and storing annuity fund data and associated customer data, annuity beneficiary data, and banking institution data; means for classifying and maintaining a callable list of all banking institutions which hold non-annuity funds and unqualified annuity funds for each annuity beneficiary as non-available banking institutions for each respective annuity beneficiary; means for determining whether the sum of all annuity funds, identified with a single annuity beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified as a non-available banking institution, exceeds said insured fund limit and if so, classifying said one banking institution as a non-available banking institution for said single annuity beneficiary; means for commanding the transfer of all annuity funds identified with said single annuity beneficiary and designated for said one banking institution in excess of said insured fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, means for determining excess funds over said insured fund limit, classifying the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all annuity beneficiaries to obtain the benefit of said depositor's insurance for qualified annuity funds.

Claim 31

A computer-based method for electronically processing transactional data and monitoring funds for a plurality of life insurance contracts, purchased by a plurality of customers funding said life insurance contracts, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: electronically identifying, inputting and storing life insurance fund data, associated customer data, life insurance beneficiary data, and banking institution data; electronically classifying all banking institutions which hold funds for each life insurance beneficiary as non-available banking institutions for each respective life insurance beneficiary after the step of identifying; electronically determining whether the sum of all life insurance funds, identified with a single life insurance beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified as a non-available banking institution, exceeds said insured fund limit and if so, classifying said one banking institution as a non-available banking institution for said single life insurance beneficiary; electronically commanding the transfer of all life insurance funds identified with said single life insurance beneficiary and designated for said one banking institution in excess of said insured fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, electronically determining the excess funds over said insured fund limit, classifying the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all life insurance beneficiaries to obtain the benefit of said depositor's insurance.

Claim 32

A computer-based method for electronically processing transactional data and monitoring funds for a plurality of life insurance contracts, purchased by a plurality of customers funding said life insurance contracts, to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based method comprising the steps of: electronically identifying, inputting and storing life insurance fund data, associated customer data, life insurance beneficiary data, and banking institution data; electronically classifying all banking institutions which hold funds for each life insurance beneficiary as non-available banking institutions for each respective life insurance beneficiary after the step of identifying; electronically determining whether the sum of all life insurance funds, identified with a single life insurance beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified as a non-available banking institution, exceeds said insured fund limit and if so, classifying said one banking institution as a non-available banking institution for said single life insurance beneficiary; electronically commanding the transfer of all life insurance funds identified with said single life insurance beneficiary and designated for said one banking institution in excess of said insured fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, electronically determining the excess funds over said insured fund limit, classifying the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all life insurance beneficiaries to obtain the benefit of said depositor's insurance.

Claim 33

A computer-based system for processing life insurance funds to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based system comprising: means for inputting and storing life insurance fund data and associated customer data, life insurance beneficiary data, and banking institution data; means for classifying and maintaining a callable list of all banking institutions which hold funds for each life insurance beneficiary as non-available banking institutions for each respective life insurance beneficiary; means for determining whether the sum of all life insurance funds, identified with a single life insurance beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified as a non-available banking institution, exceeds said insured fund limit and if so, classifying said one banking institution as a non-available banking institution for said single life insurance beneficiary; means for commanding the transfer of all life insurance funds indentified with said single life insurance beneficiary and designated for said one banking institution in excess of said insured fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, means for determining excess funds over said insured fund limit, classifying the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all life insurance beneficiaries to obtain the benefit of said depositor's insurance.

Claim 34

A computer-based system for processing life insurance funds to obtain the benefit of depositor's insurance available through a plurality of federally approved banking institutions, said depositor's insurance protecting funds less than a predetermined insured limit, said computer-based system comprising: means for inputting and storing life insurance fund data and associated customer data, life insurance beneficiary data, and banking institution data; means for classifying and maintaining a callable list of all banking institutions which hold funds for each life insurance beneficiary as non-available banking institutions for each respective life insurance beneficiary; means for determining whether the sum of all life insurance funds, identified with a single life insurance beneficiary and designated for certificates of deposit issued by one of said plurality of banking institutions which is not classified as a non-available banking institution, exceeds said insured fund limit and if so, classifying said one banking institution as a non-available banking institution for said single life insurance beneficiary; means for commanding the transfer of all life insurance funds indentified with said single life insurance beneficiary and designated for said one banking institution in excess of said insured fund limit to be deposited in another one of said plurality of banking institutions which is not classified as a non-available banking institution; and, means for determining excess funds over said insured fund limit, classifying the banking institution as non-available, and commanding the transfer of excess funds, for all banking institutions designated to hold certificates of deposit for all life insurance beneficiaries to obtain the benefit of said depositor's insurance.