Importance

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Abstract

A computer-implemented system for determining deferred and immediate annuity contract living contingent and supporting component funding and related data representing tangible annuity contract values across the life period of a potential or existing annuity contract. The system is comprised of at least a terminal, data storage and a programmed processor. The system provides for the physical transformation of annuity contract purchase value data representing tangible purchase values into annuity contract living contingent and supporting component funding and related data representing tangible deferred and immediate annuity contract values at one or more selected dates during the life period. The system also determines the eligibility for withdrawal of withdrawal values and transacts the payment of such withdrawal values. The system demonstrates and explains the underlying mechanisms of life annuities to the public and insurance sales and service people by increasing the level of financial disclosure in connection with how life annuity contracts work. The disclosure includes certain periodic, mainly yearly, financial living contingent and supporting component funding values inherent in how these contracts operate both in general and in the individual case.

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First Claim