Patent ID: 7376608

Claim:
A computerized method of administering an annuity product having a withdrawal feature and a guarantee comprising the steps of: a) establishing an annuity account having an owner and a unitized account value the investment performance of which accrues to the benefit of the account owner and from which withdrawals can be made; b) inputting data relating to the annuity account, including data relating to at least one of the account owner, the account value, and a specified withdrawal rate for a given withdrawal frequency; c) allowing the account owner to make withdrawals from the annuity account; wherein if the amount of the withdrawal is less than or equal to the specified withdrawal rate there is a guarantee that, even if the entire account value is exhausted before the end of a specified time period, amounts up to the specified withdrawal rate will continue to be paid for at least said specified time period; wherein said specified time period is determined when the account is established to be at least one of a lifetime period, a period of a certain number of months or years, and a period required for cumulative withdrawals to at least equal a specified percentage of one of the account value as of a specified date and a highest account value achieved as of a specified date following establishment of the annuity account; and if the amount of the withdrawal is greater than the specified withdrawal rate, up to and including the entire account value, there is no guarantee that amounts up to the specified withdrawal rate will continue to be paid for that specified time period.