Method and system for a deferred variable annuity with lifetime benefit payments governed by an age-based withdrawal percent
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United States of America Patent
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Sep 6, 2011
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N/A
app pub date -
Nov 9, 2007
filing date -
Jul 24, 2007
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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, and a contract value. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision.
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