Method and system for processing data related to a deferred annuity with available benefit payments and a deferral bonus
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United States of America Patent
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Jan 22, 2013
Grant Date -
Sep 8, 2011
app pub date -
May 20, 2011
filing date -
Nov 15, 2007
priority date (Note) -
Expired
status (Latency Note)
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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, a contract value, and benefit payments. A maximum annual benefit payment withdrawal amount available without reducing the payment base value is calculated by multiplying the payment base value by a factor including a deferral bonus percent, which is a function of a number of years deferred by the relevant life until taking a first lifetime benefit payment.
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