Patent ID: 6012047
Filing Date: 2000-01-04
Classification: G06Q

Abstract:
In combination in a system for commercial product and/or service support including processing one or more user defined illiquid assets having a measurable valuation and developing a combination of financial instruments corresponding to combined secured credit and deferred annuity, comprising:means for collecting and inputting into a data processing system a set of application parameters associated with a request for access to reverse equity financing said application parameters include biographical data on an applicant and asset valuation data on one or more qualified assets forming a basis for securing of credit;means for selectively accessing actuarial data taken from a database in communication with said system and/or calculated by a data processing means of said system, based on said application parameters;means for inputting one or more system or user selected combinations of secured debt parameters and annuity parameters corresponding to a select level of incremental cash flow objectives;means for interactive evaluation of said incremental cash flow and selection of an annuity and loan program structure corresponding to a selected cash flow;data processing means in said system responsive to said input means and accessing means for calculating a credit allocation and insurance premium consistent with system defined credit lending parameters and selected cash flow, wherein said data processing means further provides a framework of periodic payments associated with a release of credit in the form of a reverse equity mortgage loan and a premium level for a deferred annuity wherein a deferral period for said deferred annuity is determined in part from biographical information, including information relating to life expectancy.