Financial instrument providing a guaranteed growth rate and a guarantee of lifetime payments

US7831496B2 · kind B2 · utility

Assignee

• The Prudential Insurance Company of America · US

Inventors

• Robert O'Donnell · Harwinton, US
• Marc Joseph Buzzelli · Flanders, US
• Robert A. Fishbein · Tenafly, US
• Jacob M. Herschler · Southport, US
• Fiona Jackman-Ward · Stratford, US
• Daniel O. Kane · Florham Park, US
• N. David Kuperstock · Woodbridge, US
• Gary E. Phifer, III · Princeton, US
• Steven Lee Putterman · Town of West Hartford, US
• Polly Rae · Trumbull, US
• Dain Eric Runestad · Woodbridge, US
• Robert Schwartz · West Granby, US
• Christopher Patrick Shecklev · Branford, US

Key dates

• Filing date: Apr 14, 2006
• Grant date: Nov 9, 2010
• Expiry date: Nov 30, 2027

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for providing a financial instrument includes determining an initial account balance associated with a financial instrument based upon an initial deposit amount, wherein the financial instrument includes an account with an account balance that changes over time. The method further includes establishing a first guarantee of a protected value, the protected value including at least an amount based upon the initial account balance growing at a minimum growth rate for a defined period of time or until one or more defined events occur, whichever is sooner; and establishing a second guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of a designated party, wherein the amount comprises a percentage of the protected value at the time of a particular event, provided that the amount may vary based upon withdrawals from the account in excess of a first particular limit.