Annuity value software

  • US 5,893,071 A
  • Filed: 10/24/1996
  • Issued: 04/06/1999
  • Est. Priority Date: 10/24/1996
  • Status: Expired due to Term
First Claim
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1. A computer-implemented system for determining living contingent and supporting annuity contract component funding data representing tangible annuity contract values across a life period of a potential or existing annuity contract, comprising:

  • (a) terminal means for receiving and displaying annuity contract data, including annuitant data identifying a potential or existing annuitant, annuity contract specification data, annuity contract rate data, and annuity contract purchase value data representing tangible annuity contract purchase values;

    (b) data storage electronically coupled to said terminal means for physically encoding data in a storage medium, said encoded data including said annuitant data, said annuity contract specification data, said annuity contract rate data, and said annuity contract purchase value data;

    (c) programmed processor means, electronically coupled to said terminal means and said data storage, for processing said data received at said terminal and said data encoded in said data storage, said programmed processor means including program means for processing said annuitant data, said annuity contract specification data, said annuity contract rate data and said annuity contract purchase value data, to physically transform said encoded annuity contract purchase value data to physically encoded living contingent and supporting annuity contract component funding data representing tangible annuity contract values at one or more selected dates during the life period;

    said program processor means comprising means for directing the display of said physically transformed and encoded living contingent and supporting annuity contract component funding data through said terminal means in order to display a representation of said tangible annuity contract values;

    said program processor means comprising means for processing said annuitant data, said annuity contract specification data, said annuity contract rate data and said annuity contract purchase value data, to generate payout data representing tangible contract payout values at specific times during the life period, said tangible contract payout values being payable to a contract holder on a payout schedule defined by said annuity contract specification data, said payout schedule beginning within thirteen months of the start date of the life period; and

    (d) a printer electronically coupled to said programmed processor means for output of said physically transformed and encoded living contingent and supporting annuity contract component funding data in order to output a representation of said tangible annuity contract values.

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