System for and method of individual annuity payout administration
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United States of America Patent
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Feb 16, 2010
Grant Date -
N/A
app pub date -
Jan 22, 2002
filing date -
Jul 25, 2000
priority date (Note) -
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Abstract
A system for and method of administering payouts under an individual annuity contract is provided. In accordance with one embodiment of the present invention, a computer system is provided which includes a memory for storing individual annuity contract data relating to a individual annuity contract which provides the contract owner with the option to withdraw principal from the annuity during the payout phase, and a processor programmed to process and issue principal payouts as selected by the annuitant.
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Family
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