Patent ID: 8666783

Claim:
A computerized method for offering variable annuities, the method comprising: electronically receiving, via a processing device, a plurality of individual information for providing a variable annuity with a guaranteed minimum death benefit, the individual information including an age of an individual, an annuity payment commencement date, an annuity payment time period, and an initial investment amount; electronically calculating, via the processing device, a premium payment for the variable annuity for the individual, the premium payment calculated using at least the individual information; electronically generating, via the processing device, the variable annuity with the guaranteed minimum death benefit for the individual; upon acceptance by the individual, electronically issuing, via the processing device, the variable annuity with the guaranteed minimum death benefit; electronically calculating, via a processing device, the guaranteed minimum death benefit based at least on payment of one or more premiums by the individual; electronically calculating, via a processing device, with a mortality and expense fee computed for a plurality of periods based on at least one variable based on comprising a risk posed by the guaranteed minimum death benefit and the payment of one or more premiums by the individual, wherein the at least one variable has a value that is independent of a value of investments associated with in the variable annuity, wherein the mortality and expense fee is used to fund, at least in part, the risk associated with the guaranteed minimum death benefit of the variable annuity; electronically generating, via the processing device, the variable annuity with the guaranteed minimum death benefit for the individual; and upon acceptance by the individual, electronically issuing, via the processing device, the variable annuity with the guaranteed minimum death benefit.