SYSTEM AND METHOD FOR ADMINISTERING INSURANCE ACCOUNTS
First Claim
Patent Images
1. A computer system for administering a variable annuity account with an insurance entity, comprising:
- a processor;
a memory storage device in communication with the processor;
the processor adapted to;
access from a memory storage device data relating to the variable annuity account;
access from the memory storage device data indicative of a payment mode associated with premium payments to or withdrawal payments from the variable annuity account;
access from the memory storage device data indicative of a factor in a formula associated with the account, a value of the factor being dependent on the payment mode;
perform, based at least in part on the accessed factor data, one or more calculations associated with the insurance account; and
provide an output signal comprising data indicative of a result of the one or more calculations.
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Accused Products
Abstract
A computer system for administering an insurance account includes a processor and a memory in communication with the processor. The processor is adapted to: access from a memory storage device data indicative of a payment mode associated with premium payments to the account or payments from the account; access from the memory data indicative of a calculation associated with the account dependent on the payment mode; perform the calculation based on the accessed payment mode dependent data; and provide an output signal having data indicative of the performed calculation.
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Citations
31 Claims
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1. A computer system for administering a variable annuity account with an insurance entity, comprising:
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a processor; a memory storage device in communication with the processor; the processor adapted to; access from a memory storage device data relating to the variable annuity account; access from the memory storage device data indicative of a payment mode associated with premium payments to or withdrawal payments from the variable annuity account; access from the memory storage device data indicative of a factor in a formula associated with the account, a value of the factor being dependent on the payment mode; perform, based at least in part on the accessed factor data, one or more calculations associated with the insurance account; and provide an output signal comprising data indicative of a result of the one or more calculations. - View Dependent Claims (2, 3)
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4. A computer system for administering an insurance account, comprising:
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a processor; a memory in communication with the processor; the processor adapted to; access from the memory data indicative of a payment mode associated with premium payments to the account or payments from the account; access from the memory data indicative of a calculation associated with the account dependent on the payment mode; perform the calculation based on the accessed payment mode dependent data; and provide an output signal comprising data indicative of a result of the performed calculation. - View Dependent Claims (5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
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23. A computer-implemented method for administering an insurance account, comprising the steps of:
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accessing by a processor from a memory storage device in communication with the processor data indicative of a payment mode associated with premium payments to the account or payments from the account; accessing by the processor from the memory storage device data indicative of a calculation associated with the account dependent on the payment mode; performing by the processor the calculation based on the accessed payment mode dependent data; and providing by the processor an output signal comprising data indicative of a result of the performed calculation. - View Dependent Claims (24, 25, 26)
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27. A computer-readable medium having a plurality of instructions thereon which, when executed by a processor, cause the processor to:
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access from a memory storage device in communication with the processor data indicative of a payment mode associated with one or more premium payments to an insurance annuity account or one or more annuity or death benefit payments from the account; if the payment mode is associated with the one or more premium payments, access from the memory storage device data indicative of a calculation of at least one of a rider fee or a mortality and expense charge associated with the annuity account dependent on the payment mode, wherein a first premium payment mode pertains to premium payments from a designated account, and a second premium payment mode pertains to premium payments from all other sources, wherein the rider fee or mortality and expense charge is lower for the first premium payment mode than the second premium payment mode; if the payment mode is associated with one or more annuity or death benefit payments, access from the memory storage device data indicative of a calculation of the amount of the annuity or death benefit payment dependent on the payment mode, wherein a first outbound payment mode is to a debit card, gift card or insurance provider-designated account, and a second outbound payment mode is by check or electronic transfer to an account other than the designated account, a payment amount being larger if associated with the first outbound payment mode than the second outbound payment mode; perform the calculation based on the accessed payment mode dependent data; provide an output signal comprising data indicative of a result of the performed calculation. - View Dependent Claims (28, 29, 30, 31)
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Specification