Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Insurance
Patent
1998-09-18
1999-07-20
Peeso, Thomas R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Insurance
705 35, G06F 1700
Patent
active
059267925
ABSTRACT:
Method and system to track, reconcile and administer the values of life insurance policies in separate accounts, including Stable Value Protected funds. Accordingly, targeted returns are translated into unit values on a daily basis for each fund. Additionally the system tracks restrictions (e.g., timing, amount of withdrawal and amount of reallocations) on a premium-by-premium basis, and tracks the book value, market value, duration and targeted return on a client-by-client basis. The system calculates and tracks the payments and credits applicable to a withdrawal or reallocation request, in addition to the liquidation schedules for each fund based on the payment amounts and credits of specific funds. Additionally, daily unit values are calculated given a periodic targeted return (i.e., a quarterly targeted return).
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Fargo Scott L.
Garlich Chris J.
Gilje Mark A.
Hurwitz Richard M.
Koppes Seth C.
Bancorp Services, Inc.
Peeso Thomas R.
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