Method and apparatus that processes financial data relating to wealth accumulation plans
First Claim
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1. A method of processing and displaying financial data in a digital computer comprising the steps of:
- electronically inputting contribution data into the digital computer, wherein the contribution data corresponds to periodic contributions into an account at the beginning of a plurality of accounting periods;
processing the contribution data in the digital computer to produce digital data representing after tax cost of interest on first loan amounts made based on the cumulative cash values of an insurance policy issued based on the periodic contributions into the account;
producing in the digital computer digital data representing investment income derived from the cash value of the first loan amounts less the after tax cost of interest; and
displaying data representing financial results, including investment income derived from the cash value of the first loan amounts less the after tax cost of interest, in a suitable format on a display device to an investor who then invests the contributions in accordance with the financial results.
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Abstract
A digital computer produces data corresponding to results of different financial plans. Contribution data corresponding to contributions to an account created under the plan are entered into the digital computer. The digital computer produces data representing after tax cost of interest for cash value loan amounts corresponding to cumulative cash values of an insurance contract issued based on the contribution. Then, the digital computer outputs data representing investment income derived from the cash value loan amounts less after tax cost of interest to a display device.
217 Citations
46 Claims
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1. A method of processing and displaying financial data in a digital computer comprising the steps of:
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electronically inputting contribution data into the digital computer, wherein the contribution data corresponds to periodic contributions into an account at the beginning of a plurality of accounting periods; processing the contribution data in the digital computer to produce digital data representing after tax cost of interest on first loan amounts made based on the cumulative cash values of an insurance policy issued based on the periodic contributions into the account; producing in the digital computer digital data representing investment income derived from the cash value of the first loan amounts less the after tax cost of interest; and displaying data representing financial results, including investment income derived from the cash value of the first loan amounts less the after tax cost of interest, in a suitable format on a display device to an investor who then invests the contributions in accordance with the financial results. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A method for processing and displaying financial data in a computer comprising the steps of:
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purchasing an insurance policy having cumulative cash values that correspond to periodic contributions into an account at the beginning of a plurality of accounting periods; storing in a computer memory input data corresponding to the periodic contributions; retrieving the input data from the computer to produce cumulative cash values of the insurance issued policy based on the periodic contributions; and displaying data representing financial results, including investment income derived from cash values of loans made based on the cash values of the insurance policy less after tax cost of interest on the loans, in a suitable format on a display device to an investor who then invests the contributions in accordance with the financial results. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32)
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33. A financial data processing and displaying apparatus that processes data resulted from an insurance policy having cumulative cash values that correspond to periodic contributions into an account at the beginning of a plurality of accounting periods, comprising:
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input means for inputting data corresponding to periodic contributions to the account at the beginning of the plurality of accounting periods; tax calculation means that generates data representing tax consequences associated with the periodic contributions; interest cost calculation means that generates data representing calculated after tax cost of interest on periodic first loan amounts made based on cumulative cash values of the insurance policy and second loan amounts that correspond to the calculated tax consequences; and a display means that displays financial results, including the calculated investment income, in a suitable format to an investor who then invests the contributions in accordance with the financial results. - View Dependent Claims (34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46)
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Specification