Method and system for processing data related to a deferred annuity having a minimum contract value
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United States of America Patent
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Sep 11, 2012
Issued Date -
N/A
app pub date -
May 23, 2011
filing date -
Apr 21, 2007
priority date (Note) -
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Abstract
A computer-implemented process for processing data related to an investment product having a guarantee of withdrawals available on a periodic basis includes receiving by a processor data indicative of a request for a withdrawal from an account of the investment product, the amount of the withdrawal, aggregated with amounts of any other withdrawals during a current time period, being no more than a maximum amount available for withdrawal during the time period in accordance with the guarantee. The processor determines based on the current account value and data indicative of the guarantee whether the entire amount of the withdrawal is to be deducted from the account value, and responsive to determining that less than the entire amount is to be deducted, determines the amount to be deducted from the account value.
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