Patent ID: 7873554

Claim:
A system for administering a deferred annuity product, during the accumulation phase, comprising: a receiver configured to receive: information relating to issuing said deferred annuity product, information relating to selecting a reset interest rate, information relating to selecting a guaranteed interest rate, and information relating to whether to adjust said reset interest rate during said accumulation phase, wherein said deferred annuity product has a predefined term and an account value; and a processing module configured to determine said reset interest rate, for determining said guaranteed rate, and for determining whether to adjust said reset interest rate at predetermined time interval or intervals, wherein said processing module is at or associated with a provider of said deferred annuity product, wherein said system determines whether said deferred annuity product is issued at said reset interest rate, and further wherein said system determines whether said reset interest rate is below said guaranteed interest rate at said predetermined time interval or intervals if said deferred annuity product is issued with said reset interest rate, and wherein said system converts an interest rate applicable to said annuity product to said guaranteed interest rate for a duration of the accumulation phase responsive to the determination that said reset interest rate is below said guaranteed interest rate.