System and method for administering a lifetime income share plan
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United States of America Patent
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Nov 23, 2010
Grant Date -
Jun 12, 2008
app pub date -
Aug 3, 2007
filing date -
Mar 23, 2006
priority date (Note) -
In Force
status (Latency Note)
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Abstract
The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a specified age. Furthermore, the guaranteed stream is utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated liquid assets.
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