Patent ID: 6895390

Claim:
A computerized method for monitoring and maintaining a financial product, purchased by a plurality of subscribers, paying increasing income to a plurality of primary beneficiaries based upon their comparable survival in a predetermined group including the steps of: providing a computer system for processing transactions, including subscriber payments, investment tracking and increasing income payments, and for reporting the status of beneficiary accounts; monitoring, via said computer system, the establishment of a plurality of contracts for a corresponding plurality of primary beneficiaries, each primary beneficiary of said plurality of primary beneficiaries designating a corresponding secondary beneficiary; segregating said plurality of primary beneficiaries into a plurality of contract groups, each contract group utilizing one contract of said plurality of contracts, wherein each primary beneficiary of a respective contract group has (i) substantially similar demographics as compared with others in the same contract group, and (ii) a substantially similar contract compared with others in the same contract group; monitoring, via said computer system, compliance with contractual parameters which parameters define unique attributes of a respective contract of said plurality of contracts for said respective contract group, said contractual parameters including: (i) a beginning of an increasing income payment period, (ii) an expiration parameter representing an ending of said increasing income payment period, (iii) the presence or absence of an income target value, and, (iv) the presence or absence of an invasion of principal parameter; monitoring, via said computer system, the investment of funds created by said subscriber payments on behalf of said primary beneficiaries in compliance with said contractual parameters for said plurality of contracts; directing and reporting, via said computer system, the payment of increasing income to primary beneficiaries surviving others in said respective contract group of said plurality of contract groups; and, directing and reporting, via said computer system, the payment of principal to said secondary beneficiaries upon the occurrence of said expiration parameter for said respective contract group.