Distribution of a monetary fund
First Claim
Patent Images
1. A method of allocating units in a monetary fund which comprises the steps of:
- determining an initial unit allocation for each policyholder of the fund;
periodically allocating extra units to surviving policyholders of the fund, wherein the number of extra units being allocated is based on a probability of availability of units in the fund arising from deceased policyholders.
1 Assignment
0 Petitions
Accused Products
Abstract
A method of allocating units in a monetary fund includes the steps of: determining an initial unit allocation for each policyholder of the fund, and periodically allocating extra units to surviving policyholders of the fund. The number of extra units being allocated is based on a probability of availability of units in the fund arising from deceased policyholders.
8 Citations
22 Claims
-
1. A method of allocating units in a monetary fund which comprises the steps of:
-
determining an initial unit allocation for each policyholder of the fund; periodically allocating extra units to surviving policyholders of the fund, wherein the number of extra units being allocated is based on a probability of availability of units in the fund arising from deceased policyholders. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
-
-
9. A method of distributing a monetary fund which comprises the steps of:
-
periodically determining a number of extra units in the fund to be allocated based on a probability of availability of units in the fund arising from deceased policyholders; distributing the extra units amongst surviving policyholders; making periodic payments to a policyholder based on their unit allocation at the time a payment is made; and adjusting their unit allocation. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
-
-
20. A processor programmed to allocate units in a monetary fund by executing the steps of:
-
determining an initial unit allocation for each policyholder of the funds; determining a number of extra units to be allocated to surviving policyholders of the fund based on a probability of availability of units in the fund arising from deceased policyholders; and periodically distributing said extra units amongst surviving policyholders.
-
-
21. A computer program comprising computer readable instructions which when executed by a computer implements the steps of:
-
determining an initial unit allocation for each policyholder of the funds; determining a number of extra units to be allocated to surviving policyholders of the fund based on a probability of availability of units in the fund arising from deceased policyholders; and periodically distributing said extra units amongst surviving policyholders.
-
-
22. A monetary fund distribution system comprising:
- a processor programmed to determine an initial unit allocation for each policyholder of a fund, and to periodically allocate extra units to surviving policyholders of the fund;
a table holding details of policyholders, their birthdays, age and unit holding; a calendar for determining birthdays of policyholders for prompting allocation of extra units on each birthday of a policyholder; and a mortality table holding mortality probabilities whereby the number of extra units which are allocated is based on the probability of availability of units in the fund arising from deceased policyholders.
- a processor programmed to determine an initial unit allocation for each policyholder of a fund, and to periodically allocate extra units to surviving policyholders of the fund;
Specification