System and process for providing multiple income start dates for annuities
First Claim
1. A method, implemented on a computational device, for issuing an annuity structure having a base portion segment and at least one secondary portion segment, the method comprising:
- generating, by the computational device, an annuity structure comprising;
a base portion segment, where the base portion segment is a functional annuity having a first annuity schedule; and
a secondary portion segment, where the secondary portion segment is a functional annuity having a second annuity schedule;
where the base portion segment and the secondary portion segment each operate as its own annuity;
the base portion segment and the secondary portion segment being each included in a single contract; and
issuing, by the computational device, the annuity structure to an annuity holder; and
the annuity structure has an annuity commencement date of the base portion segment under the contract, the annuity commencement date of the base portion segment effecting cash flow of both the base portion segment and the secondary portion segment, andthe annuity structure having an annuity commencement date of the secondary portion segment under the contract, the annuity commencement date of the secondary portion segment being different than the annuity commencement date of the base portion segment; and
the base portion segment constituted by an accumulation period followed by a payout period, andthe secondary portion segment constituted by and accumulation period followed by a payout period.
3 Assignments
0 Petitions
Accused Products
Abstract
The present invention provides a method for providing an annuity structure and a system for processing an annuity structure. The annuity structure may include a base portion segment, where the base portion segment is a functional annuity having a first annuity schedule; and a secondary portion segment, where the secondary portion segment is a functional annuity having a second annuity schedule. In the invention, the base portion segment and the secondary portion segment each operate as its own annuity. Also, the base portion segment and the secondary portion segment are each included in a single contract, i.e., under the umbrella of one contract.
-
Citations
20 Claims
-
1. A method, implemented on a computational device, for issuing an annuity structure having a base portion segment and at least one secondary portion segment, the method comprising:
-
generating, by the computational device, an annuity structure comprising; a base portion segment, where the base portion segment is a functional annuity having a first annuity schedule; and a secondary portion segment, where the secondary portion segment is a functional annuity having a second annuity schedule; where the base portion segment and the secondary portion segment each operate as its own annuity; the base portion segment and the secondary portion segment being each included in a single contract; and issuing, by the computational device, the annuity structure to an annuity holder; and the annuity structure has an annuity commencement date of the base portion segment under the contract, the annuity commencement date of the base portion segment effecting cash flow of both the base portion segment and the secondary portion segment, and the annuity structure having an annuity commencement date of the secondary portion segment under the contract, the annuity commencement date of the secondary portion segment being different than the annuity commencement date of the base portion segment; and the base portion segment constituted by an accumulation period followed by a payout period, and the secondary portion segment constituted by and accumulation period followed by a payout period. - View Dependent Claims (2, 3, 4, 5, 7)
-
-
6. A method, implemented on a computational device, for issuing an annuity structure having a base portion segment and at least one secondary portion segment the method comprising:
-
generating, by the computational device, an annuity structure comprising; a base portion segment, where the base portion segment is a functional annuity having a rust annuity schedule; and a plurality of secondary portion segments, where each of the plurality of secondary portion segments is a functional annuity having a separate annuity schedule; and where the base portion segment and each of the plurality of secondary portion segments operates as its own annuity; the base portion segment and each of the plurality of secondary portion segments is included under a single contract; the annuity structure has an annuity commencement date of the base portion segment under the contract, the annuity commencement date of the base portion segment effecting cash flow of both the base portion segment and the secondary portion segments, and the annuity structure having a respective annuity commencement date for each of the secondary portion segments under the contract, the annuity commencement dales for each of the secondary portion segments being different than the annuity commencement date of the base portion segment; each of the plurality of secondary portion segments have a portion exercise income date that is independent of the annuity commencement dates for the annuity structure; and
issuing, by the computational device, the annuity structure to an annuity holder; and
the base portion segment constituted by an accumulation period followed by a payout period, andthe secondary portions segment constituted by an accumulation period followed by a payout period.
-
-
8. A process, implemented on a computational device, for issuing an annuity structure having a base portion segment and at least one secondary portion segment, the process comprising the steps of:
-
receiving, by the computational device, a request for the annuity structure, where the request includes financial requirements for the annuity structure; determining, by the computational device, an annuity schedule for each of the base portion segment and at least one secondary portion segment; creating, by the computational device, the annuity structure based on the determined annuity schedules; and issuing, by the computational device, the annuity structure to an annuity holder; and wherein the base portion segment and at least one secondary portion segment are all included under a single contract; and the annuity structure has an annuity commencement date of the base portion segment under the contract, the annuity commencement date of the base portion segment effecting cash flow of both the base portion segment and the secondary portion segment, and the annuity structure having an annuity commencement date of the secondary portion segment under the contract, the annuity commencement date of the secondary portion segment being different than the annuity commencement date of the base portion segment; and the base portion segment constituted by and accumulation period followed by a payout period, and the secondary portion segment constituted by and accumulation period followed by a payout period. - View Dependent Claims (9, 10, 11, 12, 13, 14)
-
-
15. A computer readable medium, implemented on a computational device, having code for causing a process, performed by the computational device, to issue an annuity structure having a base portion segment and at least one secondary portion segment, the computer readable medium comprising:
-
code, implemented by the computational device, that receives a request for the annuity structure, where the request includes financial requirements for the annuity structure; code, implemented by the computational device, that determines the annuity schedule for each of the base portion segment and at least one secondary portion segment; code, implemented by the computational device, that creates the annuity structure based on the determined annuity schedules; and code, implemented by the computational device, that issues the annuity structure to an annuity holder, and wherein the base portion segment and at least one secondary portion segment are all included in a single contract; and the annuity structure has an annuity commencement date of the base portion segment under the contract, the annuity commencement date of the base portion segment effecting cash flow of both the base portion segment and the secondary portion segment, and the annuity structure having an annuity commencement date of the secondary portion segment under the contract, the annuity commencement date of the secondary portion segment being different than the annuity commencement date of the base portion segment; and the base portion segment constituted by and accumulation period followed by a payout period, and the secondary portion segment constituted by an accumulation period followed by a payout period. - View Dependent Claims (16, 17, 18, 19, 20)
-
Specification