Patent ID: 8359257

Claim:
A computer system for processing data associated with a deferred annuity contract during the accumulation phase, comprising: a data storage device storing data associated with the deferred annuity contract, including data indicative of a contract value, a withdrawal base value, a withdrawal percent value, and a formula for determining a value of benefit payments available during a current period in accordance with a guarantee and without reduction of the withdrawal base value; and a processor in communication with the storage device, the processor configured to: receive data indicative of an amount of a withdrawal requested by a relevant life; responsive to receipt of the data indicative of an amount of a withdrawal requested by a relevant life, determine a maximum amount available for withdrawal without reduction of the withdrawal base value by calculating the maximum amount available based on multiplying the withdrawal base value by the sum of the withdrawal percent value and a factor equal to the product of (i) a number of completed periods of eligibility to withdraw without a withdrawal being taken and (ii) a percentage; determine whether the amount of the withdrawal, together with amounts of other withdrawals requested during the current period, is greater than the maximum amount available for withdrawal; and responsive to determining that the amount of the withdrawal, together with amounts of other withdrawals requested during the current period, is not greater than the maximum amount available for withdrawal, provide an output signal having data indicative that the withdrawal base value will not be reduced as a result of the withdrawal.