System and method for managing and administering a lifetime...

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance

Reexamination Certificate

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Details

C705S035000, C705S03600T, C705S038000

Reexamination Certificate

active

07979337

ABSTRACT:
The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares certifies that an individual is entitled to receive a predetermined, periodic income payment for the life of the purchaser. Additionally, the lifetime income shares of the present invention may be purchased and distributed to participants by a third party (e.g. commingled fund). The third party wishing to provide the lifetime income shares of the present invention to participants may purchase a predetermined amount of shares of an annuity from the underwriting organization and distribute it to the participants. This plan has an investment phase, a distribution phase, and a payout phase. Once the payout phase begins, the stream of monthly income commences at a specified age or date.

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Anthony H Riccardi, & Thomas R Ireland. (2002). A Primer on Annuity Contracts, Structured Settlements, and Periodic-Payment Judgements. Journal of Legal Economics, 12(3), 1-46. Retrieved Jan. 11, 2011, from ABI/INFORM Global. (Document ID: 805466031).
Long, B.. (Jan. 2004). Solving the Other Half of the Retirement Equation. Life Insurance Selling: Review & Outlook 2004,30,32,34-35. Retrieved Jan. 11, 2011, from Banking Information Source. (Document ID: 1480935461).
Sally Law. (Mar. 2006). Is It Better to Give Than to Receive? USBanker, 116(3), 49. Retrieved Jan. 11, 2011, from ABI/INFORM Global. (Document ID: 1001244281).
Anthony H Riccardi, & Thomas R Ireland. (2002). A Primer on Annuity Contracts, Structured Settlements, and Periodic-Payment Judgements. Journal of Legal Economics, 12(3), 1-46.
Sally Law. (Mar. 2006). Is It Better to Give Than to Receive? USBanker, 116(3), 49.
Long, B.. (Jan. 2004). Solving the Other Half of the Retirement Equation. Life Insurance Selling; Review & Outlook 2004,30,32,34-35.

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