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SYSTEM AND METHOD FOR PROVIDING A FINANCIAL INSTRUMENT WITH A PERIODIC STEP-UP FEATURE

  • US 20080189220A1
  • Filed: 02/06/2007
  • Published: 08/07/2008
  • Est. Priority Date: 02/06/2007
  • Status: Active Grant
First Claim
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1. A financial instrument management system, comprising:

  • software stored on a computer-readable medium and operable to;

    determine a current account balance for a financial account wherein;

    the financial account comprises one or more investments selected by an account holder;

    the financial account is associated with a first guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of a designated party, wherein the transfer may be due to withdrawal from the account or due to benefit payments made to the beneficiary, provided that the amount may vary based upon withdrawals from the account in excess of a particular limit for the periodic transfer;

    the financial account is associated with a second guarantee that on a first periodic basis the particular limit will be stepped-up to equal a specified percentage of the highest value of the financial account as determined on a second periodic basis if the specific percentages of the highest value is greater than the particular limit; and

    the first periodic basis is longer than the second periodic basis; and

    on the first periodic basis;

    determine the specified percentage of the value of the financial account;

    determine the greater of the particular limit and the highest value of the financial account multiplied by the specified percentage on the second periodic basis; and

    in response to a determination that the highest value of the financial account multiplied by the specified percentage on the second periodic basis is greater than the particular limit, step-up the particular limit to equal the highest value of the financial account multiplied by the specified percentage on the second periodic basis.

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