Method and apparatus for determining additional benefits and costs for an annuity contract
OwnerCharles Paul Preti, Donald James Dadyinventors
Life of this patent
Estimating the term…
Abstract
A method for determining additional death benefits with respect to an annuity contract, the annuity contract being stored in a computer system. The method comprises generating data corresponding to an annuity contract, at least a portion of the data corresponding to information indicating whether an additional beneficiary rider has been selected. If the additional beneficiary rider has been selected in the annuity contract, calculating an additional death benefit to be added to the payments to be provided by the annuity contract.
Claims29
A method for determining additional death benefits with respect to an annuity contract, the annuity contract being stored in a computer system, the method comprising:
- generating data corresponding to an annuity contract, at least a portion of the data corresponding to information indicating whether an additional beneficiary rider has been selected;
- if the additional beneficiary rider has been selected as part of the annuity contract, calculating an additional death benefit to be added to the payments to be provided by the annuity contract;
- adding the additional death benefit to the current annuity death benefit to generate a total death benefit.
A method that determines tax benefits and costs for an annuity contract comprising:
- generating an annuity contract;
- determining whether the annuity contract includes a beneficiary rider selected by the owner of the annuity contract;
- if the beneficiary rider has been selected, calculating an additional death benefit for the annuity contract;
- and
- adding the additional death benefit to a death benefit to be paid out by the annuity contract.
An apparatus for calculating tax benefits and costs for an annuity contract comprising:
- a storage device;
- and
- a processor coupled to the storage device,
- the storage device storing instructions that are utilized by the processor, the instructions comprising:
- a receive instruction that instructs the processor to receive data comprising an annuity contract;
- a determine instruction that instructs the processor to determine whether the annuity contract includes a beneficiary rider;
- a calculate instruction that instructs the processor to calculate an additional death benefit, if the annuity contract includes the beneficiary rider;
- and
- combine instruction that instructs the processor to add the additional benefit to the current annuity death benefit, if the annuity contract includes the beneficiary rider.
Dependencies are inferred from the claim text.