Method and system for a deferred variable annuity with lifetime benefit payments as a function of a predetermined age-based withdrawal percent table
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United States of America Patent
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Jan 25, 2011
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N/A
app pub date -
Dec 5, 2007
filing date -
Jul 24, 2007
priority date (Note) -
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Abstract
A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a withdrawal percent for determining a lifetime benefit payment amount available for withdrawal without reduction in the payment base. The withdrawal percent is dependent on the age of a relevant life as of the date of a request made by the relevant life for the withdrawal.
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