Lifetime guaranteed income rider
US8175971B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Dec 29, 2008 |
| Grant date | May 8, 2012 |
| Priority date | — |
| Expiry date | Dec 30, 2029 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Apparatus and methods for providing to a bank customer a guaranteed retirement distribution based on a retail bank product. An electronic processing module may be used to identify a value of an asset in a retail banking product and calculate a guaranteed distribution payment amount. The guaranteed distribution payment amount may be based on the asset value. An electronic transmitter may be used to provide to an insurance carrier a data object having an attribute that corresponds to the asset value. A new guaranteed distribution amount may replace a previous guaranteed distribution amount. The new guaranteed distribution amount may be based on a new value of the asset. The asset may be retained in the retail banking product and the insurance carrier may issue a policy that guarantees the distribution payment to the customer.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.