System For And Method Of Individual Annuity Payout Administration
Copyright: | Micropatent LLC |
Source: | U.S. Patents |
Wordcount: | unknown |
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PUB. NUMBER |
US7664700 |
Appl. Data |
US200254192A 20020122 |
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The Guardian Life Insurance Company of America |
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Fisher, III, Charles Gordon |
TITLE |
System for and method of individual annuity payout administration |
ABSTRACT |
A system for and method of administering payouts under an individual annuity contract is provided. In accordance with one embodiment of the present invention, a computer system is provided which includes a memory for storing individual annuity contract data relating to a individual annuity contract which provides the contract owner with the option to withdraw principal from the annuity during the payout phase, and a processor programmed to process and issue principal payouts as selected by the annuitant.
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