Patent ID: 8554654

Claim:
A computer-based apparatus for representing and acting on an indexed reversionary annuity, comprising: a memory unit for at least one specially programmed computer configured to store: computer readable instructions; and, an initial income amount; a processor for the at least one specially programmed computer configured to execute the computer readable instructions to: determine a set of indexing parameters P; and, update the initial income amount at an end of a specified indexing term T based in part on a performance of at least one index and the set of indexing parameters P, wherein the processor is configured to: receive a floor guarantee equal to 1 from the user; and, update the initial income amount at the end of the specified indexing term T based in part on the performance of said at least one index and the set of indexing parameters P such that said updated initial income amount is at least equal to the initial income amount multiplied by the floor guarantee; or, wherein the processor is configured to: receive a floor guarantee equal to less than 1 from the user; and, update the initial income amount at the end of the specified indexing term T based in part on the performance of said at least one index and the set of indexing parameters P such that said updated initial income amount is at least equal to the initial income amount multiplied by the floor guarantee; or, wherein the processor is configured to: receive a floor guarantee greater than 1 from the user; and, update the initial income amount at the end of the specified indexing term T based in part on the performance of said at least one index and the set of indexing parameters P such that said updated initial income amount is at least equal to the initial income amount multiplied by the floor guarantee.