System and method for providing a financial instrument with a periodic step-up feature

US8396774B2 · kind B2 · utility

Assignee

• The Prudential Insurance Company of America · US

Inventors

• Jacob M. Herschler · Southport, US
• Daniel O. Kane · Florham Park, US
• N. David Kuperstock · Woodbridge, US
• Robert O'Donnell · Harwinton, US
• Steven Lee Putterman · Town of West Hartford, US
• Dain Eric Runestad · Woodbridge, US
• Robert Schwartz · West Granby, US
• Nicholas Berardis, Jr. · Middlebury, US
• John L. Grucza · Southington, US
• Michael Albert Guido · Southbury, US
• J. Scott Dunn · Rocky Hill, US

Key dates

• Filing date: Feb 6, 2007
• Grant date: Mar 12, 2013
• Expiry date: Jun 26, 2027

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

One embodiment of the invention is a method for providing a financial instrument including determining a current account balance for a financial account and on a first periodic basis: determining a specified percentage of the value of the financial account, determine the greater of a particular limit and the highest value of the financial account multiplied by the specified percentage on a second periodic basis, and in response to a determination that the highest value of the financial account multiplied by the specified percentage on the second periodic basis is greater than the particular limit, stepping-up the particular limit to equal the highest value of the financial account multiplied by the specified percentage on the second periodic basis.