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US 2010/0076791 A1Published application
Lifetime financial product
AssigneeWachovia Corporation
InventorDonna E. Peterson
Life of this patent
Estimating the term…
Abstract
A system and method that offers a simple product solution for managing financial risks in retirement is provided. The product solution combines a uniquely structured deposit product (e.g., certificate of deposit (CD)) together with an insurance policy (e.g., group longevity insurance policy) to guarantee a lifetime stream of income to a customer.
Claims22
A lifetime certificate of deposit (CD) product, comprising:
- a CD that offers a regular interval payment during a term prior to one of maturity or balance depletion, wherein the balance includes principal and interest;
- and
- a longevity insurance policy that secures continuation of the regular interval payment upon the earlier of maturity or balance depletion.
A revenue management system that facilitates a lifetime income stream, comprising:
- a user interface component that facilitates input of demographic information associated with a customer;
- and
- a packaging component that combines a deposit product with a longevity insurance policy based at least in part upon the demographic information wherein the combination guarantees the lifetime income stream based upon life of the customer.
A computer-implemented method, comprising:
- identifying a customer;
- obtaining identifying information related to the customer;
- identifying a deposit product based at least in part upon a financial goal of the customer;
- identifying an income guarantee vehicle based at least in part upon the financial goal of the customer;
- establishing a financial product that includes the income guarantee vehicle combined with the deposit product;
- and
- guaranteeing a lifetime income stream based at least in part upon the packaged product.
4 more elements
Dependencies are inferred from the claim text.