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:
Jun. 26, 2012
Filed:
Nov. 09, 2007
Charles D. Tatro, Mendon, MA (US);
David P. Wiland, South Windsor, CT (US);
Charles D. Tatro, Mendon, MA (US);
David P. Wiland, South Windsor, CT (US);
Hartford Fire Insurance Company, Hartford, CT (US);
Abstract
A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value and a contract value. The system has a processor for determining a present payment base value, for determining a present contract value, for determining a withdrawal percent, and for calculating a lifetime benefit payment responsive to a request; wherein the maximum lifetime benefit payment withdrawal is Greater of ((Present Payment Base×Withdrawal Percent) or (Present Contract Value×Withdrawal Percent)).