Patent ID: 8010388

Claim:
A system for generating a longevity insurance contract comprising: at least one user computer associated with a user of the system; a server computer in communication with said user computer, said server computer being configured to: store in a database data related to at least one longevity insurance contract, the data comprising data relating to an individual fixed deferred annuity, including a premium amount; an annuity commencement date; a periodic annuity payment commencing on the annuity commencement date and continuing for the life of one or more than one individual; and a facility care benefit being a fixed percentage of the periodic annuity payment payable responsive to a facility care event; access said data; transmit said accessed data to a user interface, said interface configured to allow a user to construct said longevity insurance contract by selecting the annuity commencement date and one of the premium amount and an amount of the periodic annuity payment; receive from the user interface the selected annuity commencement date and the one of the premium amount and the amount of the periodic annuity payment; calculate, based on the selected annuity commencement date and the selected one of the premium amount and periodic annuity payment amount, the other one of the premium amount and the periodic annuity payment amount; and transmit data indicative of the calculated one of the premium amount and periodic payment amount to the interface for display to the user.