Method and system for administering a variable universal life insurance product having a volatility reduction feature
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United States of America Patent
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May 8, 2012
Grant Date -
Oct 9, 2008
app pub date -
Apr 3, 2007
filing date -
Apr 3, 2007
priority date (Note) -
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status (Latency Note)
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Abstract
A method and system of administering a financial product having a volatility reduction feature comprises providing a life insurance policy having a cash surrender value, creating at least one subaccount associated with the policy, storing a number of accumulation units associated with the subaccount, storing a plurality of accumulation unit values, calculating an average of stored accumulation unit values and using the average to determine a target unit value. The surrender value of the subaccount is periodically determined by multiplying the number of accumulation units by the target unit value. The surrender value of the subaccount is used to periodically determine the cash surrender value of the insurance policy.
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