Patent ID: 7016871
Filing Date: 2006-03-21
Classification: G06Q

Abstract:
1. A system for administering variable annuity contracts, said system comprising: memory means having data relating to at least one variable annuity contract of a contractowner stored therein, said data including an associated bonus investment credit percentage, associated withdrawal charge percentages for each of a plurality of contract years, such that each withdrawal charge percentage is less than or equal to said bonus investment credit percentage, an asset-based compensation percentage constant over all contract years, and a premium amount paid by said contractowner in a first contract year; and processing means operatively coupled to said memory means configured to read said bonus investment credit percentage, said premium amount, at least one of said withdrawal charge percentages, and said asset-based compensation percentage constant from said memory means, to calculate a bonus investment credit by multiplying said premium amount by said bonus investment credit percentage, to calculate a withdrawal charge based on the said at least one of said withdrawal charge percentages, and to calculate an asset-based compensation based on said asset-based compensation percentage.