Financial instrument providing a guaranteed growth rate and a guarantee of lifetime payments
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United States of America Patent
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Nov 9, 2010
Issued Date -
N/A
app pub date -
Apr 14, 2006
filing date -
Jul 29, 2005
priority date (Note) -
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status (Latency Note)
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Abstract
A method for providing a financial instrument includes determining an initial account balance associated with a financial instrument based upon an initial deposit amount, wherein the financial instrument includes an account with an account balance that changes over time. The method further includes establishing a first guarantee of a protected value, the protected value including at least an amount based upon the initial account balance growing at a minimum growth rate for a defined period of time or until one or more defined events occur, whichever is sooner; and establishing a second guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of a designated party, wherein the amount comprises a percentage of the protected value at the time of a particular event, provided that the amount may vary based upon withdrawals from the account in excess of a first particular limit.
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Family
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