METHOD AND SYSTEM FOR ADMINISTERING INDEX-LINKED ANNUITY
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United States of America Patent
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N/A
Issued Date -
Dec 11, 2008
app pub date -
Jun 5, 2007
filing date -
Jun 5, 2007
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A method for administering an annuity product comprises the steps of establishing an annuity account, storing data relating to the account, determining an amount of an income payment and paying the income payment to the account owner. The amount of the income payment is subtracted from an account value. The amount of the account value is adjusted by a first process which includes adjusting the account value by a first index. The amount of the income payment is periodically redetermined by a second process which includes adjusting the amount of the income payment by a second index. The first and second processes are separate processes designed to cause the account value and a present value of the income payments to diverge, such that the value of the income payments becomes increasingly greater relative to the account value during a payout phase of the annuity account. One embodiment comprises a computer system for administering the annuity product in accordance with the subject method.
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