Patent ID: 8065170

Claim:
A computer system for processing data associated with a deferred variable annuity contract during the accumulation phase, comprising: a data storage device storing data associated with the deferred variable annuity contract, including data indicative of a contract value, a payment base value, a duration greater than a year of a payout period, a withdrawal percent value for the payout period, and a formula for determining a value of benefit payments available during the payout period in accordance with a guarantee; and a processor in communication with the storage device, the processor configured to: responsive to receipt of data indicative of a request during the payout period by a relevant life for a withdrawal, determine a value of withdrawals during the payout period; compare the value of withdrawals during the payout period to the value of benefit payments available during the payout period; and responsive to a determination that the value of withdrawals during the payout period is not more than the value of benefit payments available during the payout period, provide an output signal having data indicative of a reduction in the contract value and no reduction in the payment base value as a result of the requested withdrawal.