Patent ID: 8688479
Filing Date: 2014-04-01
Classification: G06Q

Abstract:
1. A system for providing annuities, the system comprising: a memory device that stores information about a plurality of distinct annuity types supported by at least two different back-end systems of a financial institution; and a processor, associated with at least one subsystem and coupled to said memory device, that: offers, to a customer through a web application useable by the customer, an opportunity to purchase a first type of annuity of the plurality of distinct annuity types and a second type of annuity of the plurality of distinct annuity types, wherein the first type of annuity is a retirement type annuity and the second type of annuity is a non-retirement type of annuity; obtains, from said customer through said web application, a choice of annuity type, wherein the choice of annuity type indicates whether said customer wishes to purchase said first type of annuity or said second type of annuity; collects application information for an annuity application for an annuity from said customer, through said web application, in a manner that is: a) independent of the back-end systems of the financial institution to receive said annuity application; and b) based on the choice of annuity type, wherein said application information includes information related to a beneficiary of said annuity who is not said customer's spouse; selecting one of the back-end systems of the financial institution to process the annuity application based on the choice of the annuity type indicated by the customer; determines that said customer is a resident of a jurisdiction in which law calls for said customer's spouse to consent to not being a beneficiary of the annuity; and obtains said spouse's consent to not being a beneficiary of the annuity.