Patent ID: 8224736
Filing Date: 2012-07-17
Classification: G06Q

Abstract:
1. A system for administering a deferred annuity product, comprising: a data receiving device configured to receive: information relating to issuing said deferred annuity product, information relating to selecting a reset interest rate, information relating to selecting a guaranteed interest rate, and information relating to whether to adjust said reset interest rate, wherein said deferred annuity product has a predefined term and an account value, one of the reset interest rate or the guaranteed interest rate being for application to the account value to determine interest credited to the account value; and a processor configured to determine said reset interest rate, said guaranteed interest rate, and to determine whether to adjust said reset interest rate at predetermined time interval or intervals, wherein said processor is at or associated with a provider of said deferred annuity product, wherein said system determines whether said deferred annuity product is issued at said reset interest rate, and further wherein said system determines whether said reset interest rate is below said guaranteed interest rate at said predetermined time interval or intervals if said deferred annuity product is issued with said reset interest rate, and wherein said system converts an interest rate applicable to said annuity product to said guaranteed interest rate responsive to the determination that said reset interest rate is below said guaranteed interest rate.