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. 24, 2011
Filed:
Jan. 23, 2009
Method and system for providing minimum contract values in an annuity with lifetime benefit payments
Joseph M. Weiss, Glastonbury, CT (US);
Charles D. Tatro, Mendon, MA (US);
Maria Leonard Andrade, Suffield, CT (US);
Joseph M. Weiss, Glastonbury, CT (US);
Charles D. Tatro, Mendon, MA (US);
Maria Leonard Andrade, Suffield, CT (US);
Hartford Fire Insurance Company, Hartford, CT (US);
Abstract
A data processing method administers a deferred annuity contract during the accumulation phase for a relevant life. The annuity contract has a contract value, a guarantee of lifetime benefit payments and a minimum contract value. Administration of the contract determines a minimum contract value, while paying a lifetime benefit payment less than the minimum contract value and a guaranteed death benefit not less than the minimum contract value. The lifetime benefit payment does not reduce the contract value below the minimum contract value.