Invention Grant
- Patent Title: System and method for determining and administering an annuity with guaranteed minimum accumulation benefit
- Patent Title (中): 确定和管理年金的制度和方法，具有保证的最低积累效益
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Application No.: US11163842Application Date: 2005-11-01
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Publication No.: US07711624B2Publication Date: 2010-05-04
- Inventor: Lynn Murphy Abbott , Douglas K. Dunning , Joseph Patrick Heckel , D. Keith Pinkley , Alan Hays Treece
- Applicant: Lynn Murphy Abbott , Douglas K. Dunning , Joseph Patrick Heckel , D. Keith Pinkley , Alan Hays Treece
- Applicant Address: US MN Minneapolis
- Assignee: Ameriprise Financial, Inc.
- Current Assignee: Ameriprise Financial, Inc.
- Current Assignee Address: US MN Minneapolis
- Agency: Snell & Wilmer L.L.P.
- Main IPC: G06Q40/00
- IPC: G06Q40/00
Abstract:
A computer-implemented method of calculating a value of a benefit for an annuity contract including a minimum contract accumulation value provision is disclosed. The method includes determining a current minimum contract accumulation value, determining a current value of the annuity contract investments, determining a predetermined reset percentage contained in the annuity contract, calculating the product of the current value of the annuity contract investments and the reset percentage and a fifth step of resetting the minimum contract accumulation value to the greater of the minimum contract accumulation value or the product of the current value of the annuity contract investments and the reset percentage.
Public/Granted literature
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