Patent ID: 7908196

Claim:
A method for providing retirement income protection, the method comprising the steps of: determining available retirement funds of an individual; using a data processor, calculating a projected pattern of wealth of said individual for a period ending at a terminal retirement age based on selection of at least one financial index representative of an asset allocation for a retirement portfolio of said individual, said available retirement funds including initial wealth of said individual available for retirement less future budgeted lifestyle financial requirements of said individual accumulated at a rate of return equal to about an actual return of said at least one financial index; when, prior to said terminal retirement age, said available retirement funds of said individual are less than a corresponding projected wealth amount of said projected pattern of wealth of said individual, (i) calculating using said data processor a payment in an amount proportional to the excess of said corresponding projected wealth amount over said available retirement funds, and (ii) providing said payment to said individual; wherein no payment to said individual is calculated or paid when said available retirement funds of said individual are at least one of greater than and equal to said corresponding projected wealth amount of said projected pattern of wealth of said individual.