Patent ID: 8340986

Claim:
A method for providing a deferred annuity comprising: receiving annuity information for an annuitant, the annuity providing periodic income payments to the annuitant for a term beginning at a start date; determining at a first date, by a computing device, one of a purchase price and an amount of at least one income payment due to the annuitant at the start date, the one of the purchase price and the amount of at least one income payment due the annuitant including a fee for an annuity reset feature that resets at least one variable of the annuity at a reset date later than the first date when the at least one variable of the annuity at the reset date is more beneficial to the annuitant than at least the first date; issuing the annuity with the reset feature to the annuitant; determining periodically at the reset date whether the at least one variable of the annuity is more beneficial to the annuitant than the first date or at a previous reset date; and resetting the at least one variable of the annuity to the more beneficial at least one variable of the annuity.