Computer based method of pricing equity indexed annuity product with guaranteed lifetime income benefits
US7590583B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 15, 2006 |
| Grant date | Sep 15, 2009 |
| Priority date | — |
| Expiry date | Jun 22, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A computer-based method for determining a set of equity-indexed crediting parameters E for a lifetime-income equity-indexed deposit product provided to a set of owners having a set of dates of birth B, a rider charge C, a lifetime income percentage scale L, a set of profitability requirements R, a principal amount P, and an account value A. The method can include the steps of: establishing the values of C, L, R, P, A and E at a time when said deposit product is purchased; generating a set of yield curve and equity index scenarios consistent with valuation parameters; setting a trial value Ei for E; calculating the observed distribution D of profitability; comparing D with R; and, computing a revised trial value Ei+1 for E, where the steps of establishing, generating, setting, calculating, comparing, and computing are performed by at least one general purpose computer.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.