| Patent application number | Description | Published |
|---|
| 20080262977 | Method and system for providing minimum contract values in an annuity with lifetime benefit payments - A data processing method administers a deferred annuity product during the accumulation phase for a relevant life. The annuity product has a contract value, a guarantee of lifetime benefit payments and a minimum contract value. Administration of the product 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 product. | 10-23-2008 |
| 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 |
| 20090030737 | Method and system for a deferred variable annuity with flexible 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 |
| 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 |
| 20090030824 | Method and system for a deferred variable annuity with lifetime benefit payments as a function of a predetermined time-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 |
| 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 |
| 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 |
| 20090132430 | Method and system for providing a deferred variable annuity with lifetime benefit payments related to a withdrawal percent and a deferral bonus 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. | 05-21-2009 |
| 20090292562 | SYSTEM AND METHOD FOR ADMINISTERING FIXED INDEX ANNUITIES - A system for administering an insurance account includes a processor; a memory in communication with the processor; the processor being adapted to: access data indicative of a value of an index calculated based on a formula including as factors prices of individual equity securities; access data indicative of dividend yield; access data indicative of an asset value of an insurance account having a value based on the index; determine an updated asset value of the insurance account based on change in the index and on the dividend amount paid; store the determined updated asset value in the memory; and provide an output signal indicative of the determined updated asset value. | 11-26-2009 |
| 20090292563 | SYSTEM AND METHOD FOR ADMINISTERING VARIABLE ANNUITIES - A system for administering a variable annuity account includes a processor and a memory in communication with the processor. The processor is adapted to: access from a memory storage device data indicative of actual performance over a time period of a fund within the variable annuity account; access from a memory storage device data indicative of benchmark performance of the fund; compare the actual performance data to the benchmark performance data, and store the result of the comparison in the memory; based on the results of the step of comparing, determine whether to refund to the account an amount; if the amount is to be refunded, access data indicative of the refund amount; access data indicative of the asset value of the account; determine an updated asset value based on the asset value and the amount to be refunded; store the determined updated asset value in a memory storage location; and provide an output signal including data indicative of the change in the asset value of the account. | 11-26-2009 |
| 20090292564 | SYSTEM AND METHOD FOR ADMINISTERING ANNUITIES - A computer-implemented method for administering an annuity product includes storing by a processor in memory an amount of an initial funding payment, an interest rate formula and a term for an accumulation annuity, and storing terms including a deferral term for a guaranteed income annuity. If the processor determines that the current time is during the term, the processor calculates an amount of interest earned on the fixed rate annuity and storing in memory a credit of the calculated interest amount to a guaranteed income annuity. After the accumulation period, the processor provides an output signal indicative of instructions to provide a notice of expiration. After the deferral period, the processor calculates an income annuity payment amount from the guaranteed income annuity; and provides an output signal indicative of instructions for a payment to be made to an annuitant based on the income annuity payment amount. | 11-26-2009 |
| 20090292653 | SYSTEM AND METHOD FOR USE IN CONNECTION WITH AN ANNUITY - A method for determining one or more features of an annuity includes receiving data indicative of a prospective annuitant's personal expenses in at least a first expense category and a second expense category; storing the data in memory; accessing price index information for the first expense category; accessing price index information for the second expense category; accessing general price index information; and based on factors including the price index information for the first expense category, the price index information for the second expense category, and the general price index information, determining a benefit increase rate of an annuity for the prospective annuitant; and providing an output indicative of at least the determined benefit increase rate. | 11-26-2009 |
| 20100094660 | SYSTEM AND METHOD FOR ADMINISTRATION OF COSTS RELATED TO ANNUITIES - A system for administration of an insurance annuity account has a processor and a memory. The processor receives a net asset value of the account at a commencement of a first period and a charge applicable to the account based on a fraction of the net asset value of the account; on a basis of a second period, shorter than the first period, throughout the first period: the processor calculates a fractional charge based on the net asset value of the account, and updates the net asset value by decrementing the net asset value in the amount of the fractional charge. At the end of the first period, the processor compares a charge for the first period based on the net asset value of the account on one day during the first period to a sum of the fractional charges for the first period, and increases the net asset value by the difference if the first period charge is less than the sum of the fractional charges. | 04-15-2010 |
| 20100100399 | SYSTEM AND METHOD FOR ADMINISTERING INSURANCE ACCOUNTS - A computer system for administering an insurance account includes a processor and a memory in communication with the processor. The processor is adapted to: access from a memory storage device data indicative of a payment mode associated with premium payments to the account or payments from the account; access from the memory data indicative of a calculation associated with the account dependent on the payment mode; perform the calculation based on the accessed payment mode dependent data; and provide an output signal having data indicative of the performed calculation. | 04-22-2010 |
| 20100174565 | METHOD AND SYSTEM FOR PROVIDING MINIMUM CONTRACT VALUES IN AN ANNUITY WITH LIFETIME BENEFIT PAYMENTS - A data processing method administers a deferred annuity product during the accumulation phase for a relevant life. The annuity product has a contract value, a guarantee of lifetime benefit payments and a minimum contract value. Administration of the product 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 product. | 07-08-2010 |
| 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 |
| 20110119206 | METHOD AND SYSTEM FOR PROCESSING DATA FOR A DEFERRED VARIABLE ANNUITY WITH BENEFIT PAYMENTS AS A FUNCTION OF A PREDETERMINED TIME-BASED WITHDRAWAL PERCENT - A computer system for processing data relating to a deferred variable annuity contract during the accumulation phase has a storage device having data including a contract value, a payment base value, and a formula for determining amounts of available benefit payments during a time period, without reduction of the payment base value, using a withdrawal percent based on a time elapsed from a purchase date of the contract. A processor is configured to access an applicable withdrawal percent and determine an available benefit amount during a time period based on the applicable withdrawal percent and a withdrawal base value. | 05-19-2011 |
| 20110131070 | METHOD AND SYSTEM FOR A DEFERRED VARIABLE ANNUITY WITH FLEXIBLE BENEFIT PAYMENTS - A computer implemented data processing system and method processes data associated with 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 available benefit payments. The system stores data indicative of a payout period having a duration greater than a year and a maximum total withdrawal percent for the payout period. The product of the maximum total withdrawal percent and the payment base value is a maximum benefit payment amount that may be withdrawn during the payout period without reducing the payment base value. | 06-02-2011 |
