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, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision.

Method and system for an enhanced step-up provision in a deferred variable annuity with a rising guaranteed step-up

A data processing method administers a deferred annuity product during the accumulation phase for a relevant life. The annuity product has a contract value, a guarantee of lifetime benefit payments and a minimum contract value. Administration of the product determines a minimum contract value, while paying a lifetime benefit payment and a guaranteed death benefit. The lifetime benefit payment does not reduce the contract value below the minimum contract value. If necessary, the lifetime benefit payment is funded by the general account assets of the company that issues the annuity product.

Method and system for providing minimum contract values in an annuity with lifetime benefit payments

A method and system provide an annuity contract with a payment base value, a contract value, lifetime benefit payments, and a death benefit, as well as the option of enhanced lifetime benefit payments for a period of time. An insured qualifies for these enhanced lifetime benefit payments when the insured is confined to a nursing home and fails two of six predetermined activities of daily living. The insured retains the option of returning to a lower level of lifetime benefit payments when the enhanced lifetime benefit payments are no longer necessary. The death benefit is reduced by the enhanced lifetime benefit payment withdrawals but the lifetime benefit payment continues to be paid, even if the contract value declines to zero.

Method and system for a facility care benefit in an annuity providing lifetime benefit payments

Method and system for a deferred variable annuity with lifetime benefit payments governed by an age-based withdrawal percent

Method and system for a deferred variable annuity with lifetime benefit payments

A data processing method administers an annuity product for an annuitant. The annuity product has a guaranteed minimum interest rate. Administration is such that the annuity product provides periodic interest rate adjustments. The adjustments are a function of changes in the prevailing market interest rates, based on reliable economic metrics such as the Consumer Price Index and short and long term Treasury rates.

Method and system for an annuity with periodic interest rate adjustments

A computer system for processing data related to an annuity product, the annuity product having a contract value and a minimum interest rate, is configured to determine an amount of interest for crediting to the contract value based on the contract value and the value of the interest rate; determine a difference between the current value of an index independent of the value of any financial instrument and the prior period value of the index; based on the determined difference between the current value of the index and the prior period value of the index, determine a value of an additional amount for crediting to the contract value; and, based on the contract value, the amount of interest for crediting and the value of the additional amount for crediting, determine an updated contract value.

System and method for processing data related to an annuity using an index-based amount to credit to a contract value

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Method and system for an annuity with periodic interest rate adjustments

System and method for processing data related to an annuity using an index-based amount to credit to a contract value