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METHOD AND SYSTEM FOR PROCESSING DATA FOR A DEFERRED VARIABLE ANNUITY WITH BENEFIT PAYMENTS AS A FUNCTION OF A PREDETERMINED TIME-BASED WITHDRAWAL PERCENT

  • US 20110119206A1
  • Filed: 01/24/2011
  • Published: 05/19/2011
  • Est. Priority Date: 07/24/2007
  • Status: Abandoned Application
First Claim
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1. A computer system for processing data relating to a deferred variable annuity contract during the accumulation phase, the annuity contract having a payment base value, a contract value, and benefit payments available periodically for a relevant life, comprising:

  • a data storage device storing data relating to the deferred variable annuity contract, including data relating to;

    the payment base value, the contract value, and a formula for determining amounts of the available benefit payments without reduction of the payment base value during a time period based on a withdrawal percent responsive to a time elapsed from a purchase date of the contract; and

    a processor in communication with the data storage device, the processor being configured to;

    access data indicative of a withdrawal percent applicable to a date based on data stored in the data storage device; and

    provide an output signal having data indicative of the applicable withdrawal percent;

    wherein an amount of an available benefit payment during a time period without reduction of the payment base value is based on the applicable withdrawal percent and a withdrawal base value.

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