Computer based method of pricing equity indexed annuity product with guaranteed lifetime income benefits
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United States of America Patent
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Mar 25, 2014
Grant Date -
Feb 14, 2013
app pub date -
May 4, 2012
filing date -
Apr 7, 2006
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Abstract
A computer-based method for determining a set of equity-indexed crediting parameters E for a lifetime-income equity-indexed deposit product provided to a set of owners having a set of dates of birth B, a rider charge C, a lifetime income percentage scale L, a set of profitability requirements R, a principal amount P, and an account value A. The method can include the steps of: establishing the values of C, L, R, P, A and E at a time when said deposit product is purchased; generating a set of yield curve and equity index scenarios consistent with valuation parameters; setting a trial value Ei for E; calculating the observed distribution D of profitability; comparing D with R; and, computing a revised trial value Ei+1 for E, where the steps of establishing, generating, setting, calculating, comparing, and computing are performed by at least one general purpose computer.
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