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US 2009/0276369 A1Published application
System and method for benefit conversion
OwnerSteven Mabry, David Kaminventors
Life of this patent
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Abstract
Described are systems and methods converting a first guaranteed benefit to a second guaranteed benefit. The system may include a first computing arrangement storing first annuity data indicative of a first guaranteed benefit associated with an annuity, and a second computing arrangement sending a request to the first computing arrangement to convert the first guaranteed benefit to a second guaranteed benefit. Upon receipt of the message, the first computing arrangement may store second annuity data indicative of the second guaranteed benefit associated with the annuity.
Claims20
A computerized system, comprising:
- a first computing arrangement storing first annuity data indicative of a first guaranteed benefit associated with an annuity;
- and
- a second computing arrangement sending a request to the first computing arrangement to convert the first guaranteed benefit to a second guaranteed benefit,
- wherein, upon receipt of the message, the first computing arrangement stores second annuity data indicative of the second guaranteed benefit associated with the annuity.
1 more element
A method, comprising:
- generating an annuity contract having a first guaranteed benefit rider;
- converting the first guaranteed benefit rider to a second guaranteed benefit rider on a predetermined date after an owner of the annuity contract reaches a predetermined age;
- and
- computing payments to be made to the owner at predetermined intervals according to terms in the second guaranteed benefit rider.
1 more element
Dependencies are inferred from the claim text.