Annuity having interest rate coupled to a referenced interest rate
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United States of America Patent
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Oct 11, 2011
Grant Date -
N/A
app pub date -
Jan 19, 2010
filing date -
Mar 28, 2002
priority date (Note) -
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status (Latency Note)
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Abstract
The methods described herein provide a guaranteed rate of return for a guarantee period of a financial account while at the same time providing upward adjustments to the interest rate if there is a corresponding increase in a specified referenced rate. The guaranteed base interest rate is set at the beginning of the guarantee period, the base interest rate to be credited to an account for an initial pre-defined period. Periodically, the then-current referenced rate is compared to a base referenced rate defined at the establishment of the guarantee period. If the referenced rate has increased, the interest rate that will be credited to the account value will increase by an amount that is based on the amount of increase in the referenced rate. If the referenced rate has not changed or has decreased, the interest rate that will be credited to the account value will be the guaranteed base interest rate.
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