Computer program, system, and method for mapping Social Security claiming strategies
AssigneeSocial Security Solutions, Inc.
InventorWilliam Meyer
Life of this patent
Estimating the term…
Abstract
A non-transitory computer readable medium having a computer program stored thereon for directing operation of a processor. The computer program receives personal and financial data for a couple; accesses data for a plurality of Social Security claiming strategies for the couple based on the personal and financial data; and illustrates on a graphical display which of the Social Security claiming strategies would provide the maximum present value of benefits for multiple mortality combinations of the couple so that the couple or an advisor for the couple can quickly ascertain which claiming strategy would provide the maximum benefits for a particular mortality combination.
Claims24
A non-transitory computer readable medium having a computer program stored thereon for directing operation of a processor to perform the following steps:
- receiving personal and financial data for a couple, the data including an expected life expectancy of each partner of the couple;
- accessing data for a plurality of Social Security claiming strategies for the couple based on the expected life expectancies and for multiple other mortality combinations of the couple;
- and
- presenting a single graphical display that illustrates which Social Security claiming strategies would provide a maximum present value of cumulative benefits for the expected life expectancies and for the multiple other mortality combinations of the couple so that the couple or an advisor for the couple can ascertain which claiming strategy would provide maximum benefits for the expected life expectancies and for the multiple other mortality combinations.
A non-transitory computer readable medium having a computer program stored thereon for directing operation of a computer, the computer program comprising:
- a code segment for displaying a single graphical display that illustrates which Social Security claiming strategies would provide maximum benefits for a plurality of different mortality combinations of a couple, including a mortality combination with expected life expectancies for the couple and a number of other mortality combinations with life expectancies that are different than the expected life expectancies, so that the couple or an advisor for the couple can ascertain which claiming strategies provide the maximum benefits for a number of different mortality combinations, the graphical display including a grid with two axes, wherein possible life expectancies of a first partner of the couple are indicated on the horizontal axis and possible life expectancies of a second partner of the couple are indicated on the vertical axis, wherein the graphical display further includes a number of cells between the two axes, wherein each cell represents a specific mortality combination of the couple.
A computer implemented method of assisting a couple in selecting a Social Security claiming strategy, the method comprising:
- receiving in a computer personal and financial data for the couple, the data including an expected life expectancy of each partner of the couple;
- accessing with the computer data for a plurality of Social Security claiming strategies for the couple based on the personal and financial data;
- and
- presenting a graphical display on the computer or on another computer in communication with the computer, the graphical display illustrating which of the Social Security claiming strategies would provide maximum benefits for the expected life expectancies of the couple and for multiple other mortality combinations of the couple that consist of different life expectancies for the couple.
A non-transitory computer readable medium having a computer program stored thereon for directing operation of a computer, the computer program comprising:
- a code segment for displaying a graphical display that illustrates which Social Security claiming strategies result in the most benefits for different life expectancies for a single individual so that the individual or an advisor for the individual can ascertain which claiming strategy would provide more benefits for a particular life expectancy, the graphical display including a single graph that indicates possible life expectancies of the individual and which claiming strategy results in the most benefits for each life expectancy, the graph further indicating which claiming strategy results in the most benefits for a single expected life expectancy of the individual.
Dependencies are inferred from the claim text.