Invention Grant
- Patent Title: Method and system for a deferred variable annuity with lifetime benefit payments governed by an age-based withdrawal percent
- Patent Title (中): 延期可变年金的方法和制度，终身福利金由年龄退休百分比控制
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Application No.: US11983473Application Date: 2007-11-09
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Publication No.: US08015092B2Publication Date: 2011-09-06
- Inventor: Charles D. Tatro , Joseph M. Weiss
- Applicant: Charles D. Tatro , Joseph M. Weiss
- Applicant Address: US CT Hartford
- Assignee: Hartford Fire Insurance Company
- Current Assignee: Hartford Fire Insurance Company
- Current Assignee Address: US CT Hartford
- Agency: Howard IP Law Group, PC
- Main IPC: G06Q40/00
- IPC: G06Q40/00
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, and a contract value. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision.
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