Financial instrument providing a portable guarantee

US8838493B2 · kind B2 · utility

Assignee

• The Prudential Insurance Company of America · US

Inventors

• Peter C. Carlson · Town of East Granby, US
• George A. Castinetras · Farmington, US
• Mark J. Foley · Menlo Park, US
• Nakia A. Kearse · Maplewood, US
• James I. Mahaney · Upper Montclair, US
• Douglas S. McIntosh · Ottawa, CA
• Richard G. Phipps, Jr. · Spring Lake Heights, US
• Brian Picard · West Simsbury, US
• Brent W. Walder · Ellington, US

Key dates

• Filing date: Sep 14, 2006
• Grant date: Sep 16, 2014
• Expiry date: Nov 15, 2029

Classification

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

Abstract

According to one embodiment of the invention, a financial instrument includes a first tax-deferred account and first, second, and third guarantees. The first tax-deferred account has an account balance based in part on a deduction from wages paid to an employee. The first guarantee is a guarantee of a first protected value based upon a deposit growing at a minimum growth rate The second guarantee is a guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of the employee. The third guarantee is a guarantee that the first protected value may be transferred with the first tax-deferred account to a separate financial instrument including a second tax-deferred account, a fourth guarantee of a second protected value, and a fifth guarantee that a beneficiary may periodically receive a transfer of an amount of money for the life of the employee.