Patent application number | Description | Published |
20090030735 | Method and system for a deferred variable annuity with lifetime benefit payments - A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision. | 01-29-2009 |
20090030736 | Method and system for a facility care benefit in an annuity providing lifetime benefit payments - A method and system provide an annuity contract with a payment base value, a contract value, lifetime benefit payments, and a death benefit, as well as the option of enhanced lifetime benefit payments for a period of time. An insured qualifies for these enhanced lifetime benefit payments when the insured is confined to a nursing home and fails two of six predetermined activities of daily living. The insured retains the option of returning to a lower level of lifetime benefit payments when the enhanced lifetime benefit payments are no longer necessary. The death benefit is reduced by the enhanced lifetime benefit payment withdrawals but the lifetime benefit payment continues to be paid, even if the contract value declines to zero. | 01-29-2009 |
20090030739 | Method and system for a deferred variable annuity with lifetime benefit payments as a function of a predetermined age-based withdrawal percent table - A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision. | 01-29-2009 |
20090030823 | Method and system for an enhanced step-up provision in a deferred variable annuity with a rising guaranteed step-up - A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision. | 01-29-2009 |
20090030850 | Method and system for a deferred variable annuity with lifetime benefit payments governed by an age-based withdrawal percent - A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision. | 01-29-2009 |
20090030851 | Method and system for a step-up provision in a deferred variable annuity with a rising guranteed step-up - A computer implemented data processing system and method for administering a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision. | 01-29-2009 |
20090132300 | METHOD AND SYSTEM FOR PROVIDING MINIMUM CONTRACT VALUES IN AN ANNUITY WITH LIFETIME BENEFIT PAYMENTS - A data processing method administers a deferred annuity contract during the accumulation phase for a relevant life. The annuity contract has a contract value, a guarantee of lifetime benefit payments and a minimum contract value. Administration of the contract determines a minimum contract value, while paying a lifetime benefit payment and a guaranteed death benefit. The lifetime benefit payment does not reduce the contract value below the minimum contract value. If necessary, the lifetime benefit payment is funded by the general account assets of the company that issues the annuity contract. | 05-21-2009 |
20110010310 | METHOD AND SYSTEM FOR A STEP-UP PROVISION IN A DEFERRED VARIABLE ANNUITY WITH A RISING GUARANTEED STEP-UP - A computer implemented data processing system and method for administering a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision. | 01-13-2011 |
20110066453 | METHOD AND SYSTEM FOR AN ENHANCED STEP-UP PROVISION IN A DEFERRED VARIABLE ANNUITY WITH A RISING GUARANTEED STEP-UP - A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision. | 03-17-2011 |
20110119096 | Method And System For A Deferred Variable Annuity With Benefit Payments As A Function Of An Age-Based Withdrawal Percent - A computer system for processing data relating to a deferred variable annuity contract during the accumulation phase includes a data storage device storing data relating to the deferred variable annuity contract, including a payment base value, a contract value, a withdrawal percent, a birth date of a relevant life, and a formula for determining, based on the withdrawal percent and a withdrawal base value, an available periodic benefit payment amount that does not decrease the payment base; and a processor. The processor is configured to determine a withdrawal percent applicable to a date, based on whether the date is prior to a date of a selected birthday of the relevant life. | 05-19-2011 |
20110270637 | METHOD AND SYSTEM FOR PROCESSING DATA FOR A DEFERRED ANNUITY WITH AVAILABLE BENEFIT PAYMENTS RELATED TO AN INCREASING WITHDRAWAL PERCENT - A computer implemented data processing system and method processes data relating to a deferred annuity contract during the accumulation phase for a relevant life. The system is configured to determine an amount of an available benefit payment, available on a periodic basis for withdrawal without reduction of a payment base value, the available benefit payment amount being based on a withdrawal percent value and one of a payment base value and a contract value. The withdrawal percent value increases automatically after a first of the benefit payments. | 11-03-2011 |
20110282696 | METHOD AND SYSTEM FOR PROCESSING DATA RELATED TO A DEFERRED ANNUITY HAVING A MINIMUM CONTRACT VALUE - A computer-implemented process for processing data related to an investment product having a guarantee of withdrawals available on a periodic basis includes receiving by a processor data indicative of a request for a withdrawal from an account of the investment product, the amount of the withdrawal, aggregated with amounts of any other withdrawals during a current time period, being no more than a maximum amount available for withdrawal during the time period in accordance with the guarantee. The processor determines whether the current account value is at or below a minimum account value, and, responsive to determining that the current account value is at or below the minimum account value, provides an output signal having data indicative that the current account value is not to be changed as a result of payment of the withdrawal. | 11-17-2011 |
20120101961 | COMPUTERIZED METHOD AND SYSTEM FOR PROCESSING DATA RELATED TO A FINANCIAL INSTRUMENT HAVING GUARANTEED BENEFIT PAYMENTS - A computerized financial instrument management system has a data storage device storing data indicative of an account balance based on deposits, withdrawals and changes in value of investments selected by an owner, a payment base value, a guarantee of availability of benefit payments for a term, during time periods during the term, without reduction of the payment base value; and withdrawal factor values correlated with dates after a first of the benefit payments and increasing after the first of the benefit payments. A processor is configured to determine, for any of the time periods, an available amount of the benefit payment, based on data indicative of a withdrawal factor value and at least one of a payment base value and either the payment base value or the account value. | 04-26-2012 |
20120259799 | METHOD AND SYSTEM FOR PROCESSING DATA RELATING TO INVESTMENT PRODUCTS HAVING A PAYMENT GUARANTEE - A computer system for processing data relating to an investment arrangement having an account value dependent on investment performance and available for withdrawal by an account owner includes a data storage device storing data indicative of a present account value, a withdrawal factor value, a present payment base value, and a guarantee of payments available periodically for a term without reduction of the payment base value; and a processor. The processor is configured to, for periods after a first withdrawal, determine the present payment base value by comparing a present account value to a prior period account value, a periodic increase in the payment base value being limited to a maximum percentage; and determine an available maximum withdrawal without reduction of the payment base value based on the withdrawal factor value and a greater of the present account value and the present payment base value. | 10-11-2012 |