Method and system for providing minimum contract values in an annuity with lifetime benefit payments
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United States of America Patent
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May 17, 2011
Issued Date -
N/A
app pub date -
Mar 18, 2010
filing date -
Apr 21, 2007
priority date (Note) -
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Abstract
A data processing method determines a contract value of a deferred annuity product during the accumulation phase. The method includes receiving by a computer a request for a withdrawal during the accumulation phase, the amount of the withdrawal being no more than a lifetime benefit payment amount, determining by the computer whether the contract value, after deduction of withdrawal is below a minimum contract value, and if the contract value would be below the minimum contract value, providing an output signal by the computer that. The contract value is not reduced below the minimum contract value.
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