System and method for administering fixed index annuities
First Claim
1. A system for administering a fixed-index annuity contract for the benefit of an annuitant, the asset value of the annuity being based on a value of a stock index employing weighted values of a plurality of stocks, comprising:
- a processor;
a memory in communication with the processor;
the processor being configured to;
access data indicative of an asset value of the annuity;
access data indicative of the value of the stock index;
access data indicative of a dividend yield of the stocks employed in calculation of the value of the stock index;
update an asset value of the annuity based on factors including the asset value of the annuity, the value of the stock index and a factor based on weighted dividend yields of the stocks employed in the stock index; and
provide an output signal including data indicative of the updated asset value.
1 Assignment
0 Petitions
Accused Products
Abstract
A system for administering an insurance account includes a processor; a memory in communication with the processor; the processor being adapted to: access data indicative of a value of an index calculated based on a formula including as factors prices of individual equity securities; access data indicative of dividend yield; access data indicative of an asset value of an insurance account having a value based on the index; determine an updated asset value of the insurance account based on change in the index and on the dividend amount paid; store the determined updated asset value in the memory; and provide an output signal indicative of the determined updated asset value.
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Citations
31 Claims
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1. A system for administering a fixed-index annuity contract for the benefit of an annuitant, the asset value of the annuity being based on a value of a stock index employing weighted values of a plurality of stocks, comprising:
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a processor; a memory in communication with the processor; the processor being configured to; access data indicative of an asset value of the annuity; access data indicative of the value of the stock index; access data indicative of a dividend yield of the stocks employed in calculation of the value of the stock index; update an asset value of the annuity based on factors including the asset value of the annuity, the value of the stock index and a factor based on weighted dividend yields of the stocks employed in the stock index; and provide an output signal including data indicative of the updated asset value. - View Dependent Claims (2, 3)
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4. A system for administering an insurance account, comprising:
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a processor; a memory in communication with the processor; the processor being configured to; access data indicative of a value of an index, the value of the index being calculated based on prices of individual equity securities; access data indicative of dividend yield of a portfolio holding the individual equity securities; access data indicative of an asset value of an insurance account having a value based on the index; determine an updated asset value of the insurance account based on change in the index and on the dividend yield; store the determined updated asset value in the memory; and
provide an output signal indicative of the determined updated asset value. - View Dependent Claims (5, 6, 7, 8, 9, 10, 11)
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12. A computer-implemented method for administering an annuity product, comprising the steps of:
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storing by a processor in a memory in communication with the processor an account asset value; accessing by the processor data indicative of a value of an index having weighted shares of individual equity securities; accessing by the processor data indicative of dividend yield of a portfolio holding the individual equity securities; accessing by the processor data indicative of an asset value of an insurance account having a value based on the index; determining by the processor an updated asset value of the insurance account based on change in the index and on the dividend yield; storing by the processor of the determined updated asset value in the memory; and providing by the processor an output signal having data indicative of the determined updated asset value. - View Dependent Claims (13, 14, 15, 16, 17, 18)
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19. A non-transitory computer-readable medium having a plurality of instructions thereon which, when executed by a processor, cause the processor to perform the steps of:
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accessing data indicative of a value of an index calculated based on weighted prices of individual equity securities; accessing data indicative of a dividend yield of a portfolio holding the individual equity securities in proportions corresponding to weighting of the weighted prices; accessing data indicative of an asset value of an insurance account having a value based on the index; determining an updated asset value of the insurance account based on change in the index and on the dividend yield data; storing the determined updated asset value in a memory; and providing an output signal indicative of the determined updated asset value. - View Dependent Claims (20, 21)
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22. A system for calculation and display of an annuity account, comprising:
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a processor; and a memory in communication with the processor; wherein the processor is configured to; receive a signal having data indicative of a selection of fixed index annuity terms, including at least an index calculated based on prices of individual equity securities, and investment amount; store the fixed index annuity terms and investment amount in the memory; access data indicative of exemplary index performance; access data indicative of exemplary dividend yield of the individual equity securities; access data indicative of an asset value of the fixed index annuity account based on the stored terms and investment amount; determine an updated asset value of the fixed index annuity account based on an exemplary change in the index from the data indicative of exemplary index performance and on exemplary dividend yield data; store the determined updated asset value in the memory; and provide an output signal indicative of the determined updated asset value. - View Dependent Claims (23, 24, 25)
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26. A method for calculation and display of an annuity account, comprising:
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receiving by a processor a signal having data indicative of a selection of fixed index annuity terms, including at least an index calculated based on prices of individual equity securities, and an investment amount; storing by the processor the fixed index annuity terms and investment amount in a memory; accessing by the processor data indicative of exemplary index performance; accessing by the processor data indicative of dividend yield of the individual equity securities; accessing by the processor data indicative of an asset value of a fixed index annuity account based on the stored terms and investment amount; determining by the processor an updated asset value of the fixed index annuity account based on an exemplary change in the index from the data indicative of exemplary index performance and on exemplary dividend yield data; storing by the processor the determined updated asset value in the memory; and providing by the processor an output signal indicative of the determined updated asset value. - View Dependent Claims (27, 28)
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29. A non-transitory computer-readable medium having a plurality of instructions thereon, which when implemented by a processor, cause the processor to perform the steps of:
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receiving a signal having data indicative of a selection of fixed index annuity terms, including at least an index calculated based on prices of individual equity securities, and an investment amount; storing the fixed index annuity terms and investment amount in a memory; accessing data indicative of exemplary index performance; accessing data indicative of dividend yield of a portfolio containing the individual equity securities; accessing data indicative of an asset value of a fixed index annuity based on the stored fixed index annuity terms and investment amount; determining an updated asset value of the fixed index annuity based on change in the index and on the dividend yield data; storing the determined updated asset value in the memory; and providing an output signal indicative of the determined updated asset value. - View Dependent Claims (30, 31)
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Specification