Computerized method and system for providing guaranteed lifetime income with liquidity

A computer system for administering at least part of a program to provide a person with guaranteed lifetime income with a measure of liquidity using at least an initial contribution of assets, comprising:

• means for inputting an information profile based on data received from the person;
• means for storing financial and statistical data necessary for the calculation of a series of financial vehicle purchase rates;
• programmed processing means for:
• (a) calculating an amount of each of a series of periodic distributions to be made for the person's life during at least a first and a second period in the person's lifetime based on the inputted information profile and the stored data, wherein the first period begins on a given date and has a definite duration and the second period begins after the end of the first period and extends at least for as long as the person is alive;
• (b) allocating a first portion of an initial contribution of assets towards the purchase of at least one guaranteed financial vehicle having a determinable market value at any time so as to be capable of being liquidated in whole or in part and which will provide the person with at least one of the periodic distributions during the first period;
• and
• (c) allocating a second portion of the initial contribution towards the purchase of at least one life contingent financial vehicle which will provide the person with one or more of the periodic distributions during the second period for as long as the person lives;
• and
• means for outputting the calculated amounts of the periodic distributions.

A system for processing and administering a client account comprising a combination of serially maturing guaranteed financial vehicles having a determinable market value at any time so as to be capable of being liquidated and at least one life contingent financial vehicle, such that the client account provides the client with lifetime income based at least on an initial contribution of assets, comprising:

• means for receiving the initial contribution of assets;
• means for calculating an amount of each of a series of periodic distributions to be made for the person's life during at least a first and a second period in the person's lifetime based on an inputted information profile and stored data, wherein the first period begins on a given date and has a definite duration and the second period begins after the end of the first period and extends at least for as long as the person is alive
• means for allocating a first portion of the initial contribution towards the purchase of the guaranteed financial vehicles which will provide the person with periodic distributions during the first period;
• and
• means for allocating a second portion of the initial contribution towards the purchase of the at least one life contingent financial vehicle which will provide the person with periodic distributions during the second period for as long as the person lives;
• means for purchasing the guaranteed financial vehicles with the first portion and the at least one life contingent financial vehicle with the second portion;
• and
• means for generating a message on the dates the periodic distributions are to be made.

A method performed at least partially by a programmed computer for administering at least part of a program to provide a person with guaranteed lifetime income with a measure of liquidity using at least an initial contribution of assets, the method comprising:

• calculating an amount of each of a series of periodic distributions to be made for the person's life during at least a first and a second period in the person's lifetime based on an information profile provided by the person and stored data, wherein the first period begins on a given date and has a definite duration and the second period begins after the end of the first period and extends at least for as long as the person is alive;
• allocating a first portion of the initial contribution towards the purchase of at least one guaranteed financial vehicle having a determinable market value at any time so as to be capable of being liquidated in whole or in part and which will provide the person with at least part of the periodic distributions during the first period;
• allocating a second portion of the initial contribution towards the purchase of at least one life contingent financial vehicle which will provide the person with one or more of the periodic distributions during the second period for as long as the person lives;
• and
• investing a third portion of the initial contribution in at least one non-guaranteed financial vehicle.

A computer usable medium having computer readable program code means embodied in said medium for causing said computer to perform method steps for processing and administering a client account to provide a client with guaranteed lifetime income with a measure of liquidity using at least an initial contribution of assets, the method comprising:

• calculating an amount of each of a series of periodic distributions to be made for the client's life during at least a first and a second period in the client's lifetime based on an information profile provided by the client and stored data, wherein the first period begins on a given date and has a definite duration and the second period begins after the end of the first period and extends at least for as long as the client is alive;
• allocating a first portion of the initial contribution towards the purchase of at least one guaranteed financial vehicle having a determinable market value at any time so as to be capable of being liquidated in whole or in part and which will provide the client with at least part of the periodic distributions during the first period;
• and
• allocating a second portion of the initial contribution towards the purchase of at least one life contingent financial vehicle which will provide the client with one or more of the periodic distributions during the second period for as long as the client lives.

A system for processing and administering a client account comprising a combination of serially maturing guaranteed financial vehicles having a determinable market value at any time so as to be capable of being liquidated in whole or in part at least one life contingent financial vehicle, and at least one non-guaranteed financial vehicle, the client account providing the client with lifetime income based at least on an initial contribution of assets, comprising:

• means for receiving the initial contribution of assets;
• means for calculating an amount of each of a series of periodic distributions to be made for the client's life during at least a first and a second period in the client's lifetime based on an inputted information profile and stored data, wherein the first period begins on a given date and has a definite duration and the second period begins after the end of the first period and extends at least for as long as the person is alive;
• means for allocating a first portion of the initial contribution towards the purchase of the guaranteed financial vehicles which will provide the client with periodic distributions during the first period;
• and
• means for allocating a second portion of the initial contribution towards the purchase of the at least one life contingent financial vehicle which will provide the client with periodic distributions during the second period for as long as the client lives;
• means for purchasing the guaranteed financial vehicles with the first portion and the at least one life contingent financial vehicle with the second portion;
• means for investing a third portion of the initial contribution in at least one non-guaranteed financial vehicle;
• and
• means for generating a message on the dates the periodic distributions are to be made.

A method performed at least partially by a programmed computer for administering at least part of a program to provide a person with guaranteed lifetime income with a measure of liquidity using at least an initial contribution of first assets, the method comprising:

• calculating an amount of each of a series of periodic distributions to be made for the person's life during at least a first and a second period in the person's lifetime based on an information profile provided by the person and stored data, wherein the first period begins on a given date and has a definite duration and the second period begins after the end of the first period and extends at least for as long as the person is alive;
• matching second assets with a liability to make the calculated distributions, comprising:
• allocating a first portion of the initial contribution towards the purchase of at least one guaranteed financial vehicle having a determinable market value at any time so as to be capable of being liquidated and which will provide the person with at least one of the periodic distributions during the first period;
• allocating a second portion of the initial contribution towards the purchase of at least one life contingent financial vehicle which will provide the person with one or more of the periodic distributions during the second period for as long as the person lives;
• and
• correlating the first and second portions of the initial contribution with the at least one guaranteed financial vehicle and the at least one life contingent financial vehicle, respectively, in an account designated for the person.