The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
May. 25, 2010
Filed:
Apr. 13, 2007
Lisa Ellis Schwartz, Helotes, TX (US);
Phillip Neil Beyer, Fair Oaks Ranch, TX (US);
Douglas Irby Ward, San Antonio, TX (US);
Christopher Charles Ogburn, Helotes, TX (US);
John Dale Hegstrom, San Antonio, TX (US);
Ronald Bryan Sweet, San Antonio, TX (US);
Sarah Brooke Severson, San Antonio, TX (US);
Robert J. Schaffer, Iii, Middleton, WI (US);
Christopher P. Keene, Spring, TX (US);
Lisa Ellis Schwartz, Helotes, TX (US);
Phillip Neil Beyer, Fair Oaks Ranch, TX (US);
Douglas Irby Ward, San Antonio, TX (US);
Christopher Charles Ogburn, Helotes, TX (US);
John Dale Hegstrom, San Antonio, TX (US);
Ronald Bryan Sweet, San Antonio, TX (US);
Sarah Brooke Severson, San Antonio, TX (US);
Robert J. Schaffer, III, Middleton, WI (US);
Christopher P. Keene, Spring, TX (US);
United Services Automobile Association (USAA), San Antonio, TX (US);
Abstract
A fluctuating annuity payment is determined and generated, and that annuity payment is subsequently fixable. The fluctuating annuity payment may be based on an interest rate, such as the market yield of a 1-year U.S. Treasury adjusted to constant maturity, for example. The fluctuating annuity payment may be determined on a certain date, or periodically, for example. The annuity payment, while fluctuating, may have a predetermined floor or minimum threshold amount that is does not pay less than. At some point, a request may be received to fix the payment, and the fluctuating annuity payment is converted to a fixed annuity payment. The fixed annuity payment may be based on a long term interest rate, for example. After receiving a request to fix the annuity payment, a payment schedule may be determined based on the value of the remaining payments that are to be made.