Patent ID: 6611808
Filing Date: 2003-08-26
Classification: G06Q

Abstract:
A method of preparing an annuity contract with an additional death benefit, the annuity contract being stored in a computer system, the method comprising:generating data corresponding to an annuity contract, at least a portion of the data corresponding to information indicating whether an additional beneficiary rider has been selected; if the additional beneficiary rider has been selected as part of the annuity contract, calculating an additional death benefit to be added to the payments to be provided by the annuity contract, calculating the steps of: a) determining the death benefit to be paid out according to the annuity contract; b) determining the total of all of the premiums paid into the annuity contract; c) determining the total of any withdrawals from the annuity contract; d) subtracting the total of any withdrawals from the total of all of the premiums paid into the annuity contract to generate a first subtracted total; e) subtracting the first subtracted total from the death benefit to be paid out according to the annuity contract to generate a second subtracted total; f) if the second subtracted total is greater than zero, setting the additional death benefit to a value of the second subtracted total multiplied by a selected percentage value wherein the selected percentage value is approximately equal to 28%; and g) if the second subtracted total is less than or equal to zero, setting the additional death benefit value to zero; and adding the additional benefit to the current annuity benefit to generate a total death benefit resulting in the preparation of the annuity contract.