Patent ID: 7711624
Filing Date: 2010-05-04
Classification: G06Q

Abstract:
1. A method of calculating a value of a benefit for an annuity contract using a processor, the annuity contract including a minimum contract accumulation value provision, the method comprising the steps of: setting a waiting period value in a data store; determining, using the processor, a baseline value, wherein the baseline value is a minimum contract accumulation value at a current time; determining, using the processor, a current market value of annuity contract investments, wherein the current market value of annuity contract investments comprises a value of underlying investments of the annuity contract at a time the determining the current market value is performed; determining, using the processor, a predetermined reset percentage contained in the annuity contract; calculating, using the processor, a product of the current market value of the annuity contract investments and the predetermined reset percentage to create a reset amount, wherein the reset amount is not equal to the current market value of the annuity contract investments; resetting, using the processor, the minimum contract accumulation value to the greater of (i) the baseline value, and (ii) the reset amount; and disbursing funds in the amount of the minimum contract accumulation value to a contract holder at the end of the waiting period.