Method and system for a deferred variable annuity with benefit payments as a function of an adjustment factor

A computer-implemented method for processing data related to a deferred variable annuity contract during the accumulation phase, comprising:

• storing in a storage device data relating to the deferred variable annuity contract, including:
• a payment base value, a contract value, a withdrawal percent value, a withdrawal base value, and data indicative of a guarantee of available periodic benefit payments;
• determining by a processor in communication with the storage device a maximum benefit payment available in a current period in accordance with the guarantee, the determination of the maximum benefit payment available being based on a product of the withdrawal percent value, the withdrawal base value and a factor, the factor being at least 1 and determined in accordance with a formula, the formula causing the value of the factor to increase responsive to an increase in either or both of (1) duration between a time one of the benefit payments was first available and a time of a first one of the benefit payments;
• and (2) duration from the time of the first one of the benefit payments until the current period;
• and
• providing an output signal by the processor having data indicative of the determined maximum available benefit payment.

A non-transitory computer-readable medium having processor-executable instructions stored thereon, which instructions, when executed by a processor, cause the processor to:

• access from a storage device in communication with the processor data relating to a deferred variable annuity contract, including:
• a payment base value, a contract value, a withdrawal percent value, a withdrawal base value, and data indicative of a guarantee of available periodic benefit payments;
• and
• determine a maximum benefit payment available in a current period in accordance with the guarantee, the determination of the maximum benefit payment available being based on a product of the withdrawal percent value, the withdrawal base value and a factor, the factor being at least 1 and having a value determined in accordance with a formula, the formula causing the value of the factor to increase responsive to an increase in either or both of (1) duration between a time one of the benefit payments was first available and a first one of the benefit payments;
• and (2) duration from the first one of the benefit payments to the current period.