[go: up one dir, main page]

WO1995023379A1 - Systeme de traitement de donnees et procede de gestion d'une structure d'assurance de comptes d'epargne - Google Patents

Systeme de traitement de donnees et procede de gestion d'une structure d'assurance de comptes d'epargne Download PDF

Info

Publication number
WO1995023379A1
WO1995023379A1 PCT/US1994/002152 US9402152W WO9523379A1 WO 1995023379 A1 WO1995023379 A1 WO 1995023379A1 US 9402152 W US9402152 W US 9402152W WO 9523379 A1 WO9523379 A1 WO 9523379A1
Authority
WO
WIPO (PCT)
Prior art keywords
subscriber
contracts
depository
data representing
deposit
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Ceased
Application number
PCT/US1994/002152
Other languages
English (en)
Inventor
Bernard P. Hagan
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Individual
Original Assignee
Individual
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Individual filed Critical Individual
Priority to AU65868/94A priority Critical patent/AU6586894A/en
Priority to PCT/US1994/002152 priority patent/WO1995023379A1/fr
Publication of WO1995023379A1 publication Critical patent/WO1995023379A1/fr
Anticipated expiration legal-status Critical
Ceased legal-status Critical Current

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING OR CALCULATING; COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q10/00—Administration; Management
    • G06Q10/10—Office automation; Time management

Definitions

  • the present invention relates to a system and a method for electronically processing transactional data and monitoring funds invested in one or more of annuity contracts or life insurance contracts such that the invested funds are protected by depositor's insurance, such as FDIC insurance.
  • Certain banking institutions, banks and savings and loans pay premiums such that money on deposit in those banking institutions is insured.
  • the premiums are paid to an agency of the federal government (the Federal Deposit Insurance Corporation, or FDIC) , and the institutions thus are federally insured. If the banking institution becomes insolvent for any reason, the FDIC pays the depositor for any losses up to an established insured limit. At present, deposits are insured up to $100,000.00.
  • FDIC Federal Deposit Insurance Corporation
  • deposits are insured up to $100,000.00.
  • There is a regulation in the United States which provides that funds deposited by life insurance companies or a corporation solely to fund life insurance or annuity contracts will be insured up to the depositor's insurance limit ($100,000.00) per individual entitled to receive benefits under the contract.
  • An annuity contract is a contract that pays a primary beneficiary an amount at regular intervals or pays a primary beneficiary a lump sum at a predetermined time in the future.
  • the annuity contract is funded or provided for by a subscriber. Essentially, the subscriber pays a certain amount of money to a company, the company invests that money, and the company at a certain time in the future or at regular intervals pays the primary beneficiary a prescribed amount as required under the annuity contract.
  • Primary beneficiaries for annuity contracts are sometimes called "annuitants.”
  • a life insurance contract pays out a sum upon the death of a subscriber to primary beneficiaries.
  • annuity contracts are structured as an irrevocable trust
  • the subscriber's principal and/or income is placed in a trust corpus.
  • the total income of the trust corpus is distributed to all primary beneficiaries. Then as mortality reduces the number of primary beneficiaries, the trust income is distributed to fewer and fewer primary beneficiaries. When the last subscriber dies, the trust corpus is distributed to "secondary beneficiaries.”
  • the present invention relates to a data processing system and method for implementing and administering an insured savings account structure, More particularly, there are five major preferred embodiments of this invention: (1) fixed annuity contracts, which may be tax-deferred annuities; (2) variable annuity contracts, which may be tax- deferred annuities; (3) ordinary life insurance contracts; (4) universal life insurance contracts; and (5) annuity contracts structured in an increasing income trust. These will be summarized below.
  • the invention is also suitable for general types of life insurance contracts and other types of annuity contracts.
  • a system and method according to the present invention can manage one or more fixed or variable annuity contracts.
  • Fixed annuity contracts provide a guaranteed income over time.
  • Variable annuity contracts have returns that may vary over time.
  • Systems and methods according to these preferred embodiments are particularly useful for optionally providing individuals with retirement savings and benefits.
  • a data processing system for managing an investment account structure comprising one or more annuity contracts, each of the annuity contracts being owned by one or more individual subscribers, premiums paid for the annuity contracts being invested in one or more depository accounts, insured by deposit insurance, at one or more financial institutions.
  • the system comprises: computer processor means for processing data; storage means for storing data on a storage medium; depository monitoring means for processing data representing the depository accounts insured by deposit insurance and for ensuring that deposit insurance requirements are met for all depositories and all subscribers; and payment tracking means for inputting data representing all transactions of the investment account structure and for computing ownership of a share of the investment account structure of each of one or more beneficiaries of each annuity contract.
  • annuity contracts Some types of annuity contracts are deferred annuity contracts.
  • Deferred annuity contracts allow funds to be accumulated on a tax-deferred basis over the term of the contract and pay a lump sum or make periodic payments to annuitants at certain times in the future.
  • a subscriber may fund a deferred annuity and, upon retirement of the subscriber, the company holding the annuity pays the subscriber either a lump sum or periodic payments as selected by the annuitant.
  • the contract is annuitized upon retirement of the subscriber. If the contract is surrendered during early years, there typically are surrender penalties. If there are partial withdrawals, penalties sometimes apply. Interest if withdrawn is reportable as income in the year of withdrawal.
  • the corporation holding the annuity In order to obtain the benefit of the depositor's insurance, the corporation holding the annuity must establish an internal account for the primary beneficiary and place the funds on deposit with a federally approved institution (e.g., a FDIC institution) . However, the corporation can accumulate and combine investments for a number of annuity beneficiaries and invest that aggregate sum with a single approved institution, such as a bank.
  • the regulations provide that, in the event the banking institution becomes insolvent, the federal agency providing the depositors' insurance will pay for losses sustained by a particular primary beneficiary provided those losses do not exceed the established depositor's insurance limit value.
  • Tax-deferred annuities are presently being marketed throughout the United States by life insurance companies. Tax law currently allows interest earnings in tax-deferred annuity accounts to accumulate tax free until withdrawn. Consequently, this form of annuity has become a popular investment, particularly for those saving for their retirement years. However, funds invested in deferred annuities are not federally insured. There have been losses suffered by purchasers of annuities due to the inability of some insurance companies to remain solvent. This is particularly devastating for anyone depending on annuity income for support during retirement years. In addition, elderly persons and persons of all ages currently retired and planning retirement are greatly concerned that they will not have enough money to live on in their old age. The costs of many essentials continue to increase: housing, food, fuel, etc. Health care costs, particularly, are worrisome, and especially costs for extended hospitalization or nursing care.
  • a system and method according to the present invention manages one or more ordinary or universal life insurance contracts.
  • These embodiments are analogous to the preceding embodiments and address similar administrative problems, with ordinary life insurance contracts analogous to fixed annuity contracts and with universal life insurance contracts analogous to variable annuity contracts.
  • life insurance contracts cannot be used to establish retirement account structures.
  • a data processing system for managing an investment account structure comprising one or more life insurance contracts, each of the life contracts being owned by one or more individual subscribers, premiums paid for the life insurance contracts being invested in one or more depository accounts, insured by deposit insurance, at one or more financial institutions.
  • the system comprises: computer processor means for processing data; storage means for storing data on a storage medium; depository monitoring means for processing data representing the depository accounts and for ensuring that deposit insurance requirements are met for all depositories and all subscribers; and payment tracking means for inputting data representing all transactions of the investment account structure and for computing ownership of a share of the investment account structure of each of one or more beneficiaries of each life insurance contract.
  • the disclosed system and method may also be used to administer accounts set up as irrevocable trusts.
  • Each subscriber invests in an annuity contract and is assigned, along with a limited number of actuarially similar other subscribers, to an irrevocable trust.
  • the data processing system typically will assign the subscriber as a primary beneficiary to an irrevocable trust consisting of one or more individuals of similar actuarial characteristics and equal investment.
  • the trust corpus is funded with the annuity contract principal and/or the annuity contract income of subscribers.
  • Each of the primary beneficiaries typically the subscribers themselves, but possibly other individuals receive payments from the trust income.
  • the trust income is distributed to the remaining primary beneficiaries.
  • the trust corpus is distributed proportionally to secondary beneficiaries, typically the heirs of the primary beneficiaries.
  • a data processing system for managing an investment account structure comprising one or more annuity contracts and one or more irrevocable trusts, each of the annuity contracts being owned by one or more individual subscribers, with each subscriber's principal and/or income placed in a trust corpus in one of the irrevocable trusts, and with premiums paid for the annuity contracts and principal of the trusts being invested in one or more depository accounts, insured by deposit insurance, offered by one or more participating depository institutions.
  • the system comprises: computer processor means for processing data; storage means for storing data on a storage medium; depository monitoring means for processing data representing the depository accounts and for ensuring that deposit insurance requirements are met for all depositories and all subscribers; payment tracking means for processing data representing all transactions of the investment account structure and for computing each subscriber's percentage ownership of the investment account structure; and trust payment means for computing, upon the death of each subscriber, the payments to each remaining subscriber's primary beneficiaries from the proper trust and for computing, upon death of a last subscriber, the pro rata distribution to each secondary beneficiary from the proper trust.
  • FIG. 1 is a schematic diagram depicting the flow of information using a data processing system according to the present invention.
  • FIG. 2 is a flowchart of system functioning in a data processing system according to the present invention.
  • FIGS. 3, 3A, and 3B are flowcharts depicting storage maintenance means processing, with FIG. 3A further depicting the processing of subscriber transactions and FIG. 3B further depicting annuity contract and depository transactions.
  • FIGS. 4 and 4A-C are flowcharts depicting processing the payment tracking means and the processing of a principal paid input from the portfolio/accounting system.
  • FIG. 5 is a flowchart depicting trust payment means processing.
  • FIG. 6 is a flowchart depicting depository monitoring means processing.
  • FIG. 7 is a flowchart depicting bidding means processing.
  • FIG. 8 is a flowchart depicting investing means processing.
  • FIGS. 9 and 9A are flowcharts depicting reporting means processing and the processing of each report. DESCRIPTION OF THE PREFERRED EMBODIMENTS A number of implementations of the preferred embodiments will be apparent to those of skill in the art from the following descriptions of the cases of (1) a system and method for annuity contracts (which is analogous for life insurance contracts) and (2) a system and method for annuity contracts structured as an irrevocable trust. Skilled artisans will be able to recognize those features that are optional or inapplicable for either case, thus excluding, for example, features incompatible with a trust when implementing a system and method for an irrevocable trust structure. The example of FDIC insurance is used throughout, and the primary beneficiary is assumed to be the subscriber.
  • Computer 100 comprises central processing unit and main memory (CPU) 102 and disk storage 103.
  • Computer 100 may be, for example, a single sufficiently powerful computer or a network of computers jointly of sufficient power.
  • Data and instructions that implement the process and method are stored in disk storage 103.
  • the data are preferably maintained in entity records that include descriptive data as shown in Table l.
  • the data can be organized as files, relational databases, or other equivalent structures.
  • the instructions are processed by CPU 102 and are broken into cooperating modules.
  • a preferred functional decomposition is listed in Table 2.
  • the instructions can be written in procedural, database, object oriented, or other equivalent computer language.
  • Trust payment Computes trust interest income; (for trust embodiment) generates orders to portfolio/accounting system to pay proportionate amount to surviving beneficiaries
  • Bidding Periodically solicits from each depository data representing its highest yielding or most attractive deposit contract offers.
  • Fig. 1 depict the data flow environment of a system and method according to the invention.
  • Subscribers 104 typically correspond with one or more administrators 105 who enters their requested transactions into the system.
  • subscribers may deal directly with the system via home terminals.
  • the administrators also enter transactions describing FDIC insured depositories 108, and annuity contracts, and is responsible for correct system functioning and auditing system transactions.
  • the entering of transactions by administrators 105 is indicated at block 106, which could be a terminal or other input device.
  • the system produces reports, as indicated at block 107, for administrators and subscribers in any convenient output form.
  • the system obtains data describing the deposit contracts offered by the FDIC insured depositories 108 via communications link 109.
  • 109 is an automatic telecommunications link. Alternatively, it could also require manual steps.
  • Annuity contract system 110 is a subsystem for managing annuity contracts, receiving premium investments, making annuity payments, and tracking principal value.
  • Portfolio and accounting system 111 is a subsystem for managing the insured deposit contracts, interest income, and cash on hand. These subsystems may be implemented on computer 100. Alternatively, they may reside on a separate computer system communicating via communications link 112 with computer 100. In either implementation, annuity contract system 110 receives from computer 100 data describing annuity contracts and sends to computer 100 data describing payment history and principal value of the annuity contracts.
  • Portfolio and accounting system 111 receives from computer 100 data describing orders to buy or sell particular deposit contracts and sends to computer 100 data describing income history and principal value of outstanding contracts.
  • Fig. 2 illustrates both the sequence of operations of a system according to the invention and the flow of external data into and out of the system.
  • the function of processes at blocks 201 to 208 are described in Table 2, rows 1 to 8, respectively. If a system according to the present invention does not implement the trust feature, trust payment process 204 will not be present, nor will the pieces of any other process that are identified to process data representing trusts.
  • the system starts processing at block 211 and continues to storage maintenance process 201, where data is input to disk storage 103.
  • the succeeding processes, at blocks 202 to 208 are performed in the order illustrated.
  • these processes would be performed at an appropriate interval, at least monthly but perhaps weekly or daily, depending on the frequency of transaction input, annuity and income payments, and other system events.
  • Storage maintenance means processing begins at block 301 and ends at block 307, after which the system proceeds to the next sequential process.
  • Transaction data is input as indicated at block 106 for processing at block 302.
  • the system checks if the transaction is for a subscriber. If so, processing proceeds, as indicated label 3A, to continue as described in Fig. 3A. If not, as indicated at blocks 304 and 305, the system checks for annuity contract or depository transactions, respectively, and proceeds, as indicated at labels 3B or 3C, respectively, to continue as described in Fig. 3B. If the administrator requests a repeat, as indicated at block 306, the system will branch to data input at block 302, or else storage maintenance processing exits at block 307.
  • a subscriber transaction has been input, at block 313 the system checks for a new subscriber. If so, then a new storage area for this subscriber is created at block 314 to contain data similar to that listed in Table 1, row 1. If trusts are being used, then the new subscriber must be assigned to a trust. At block 315, the system checks if a new trust is needed, and if so a new storage area for this trust is created at block 316 to contain data similar to that listed in Table 1, row 3. The process indicated at block 318 updates these new storage areas.
  • Process at block 317 assigns the new subscriber to a trust, which preferably consists of up to approximately 200 other subscribers (each with a primary beneficiary) with similar actuarial characteristics and equal investments.
  • the system checks for a transaction indicating the death of a subscriber. If not, subscriber transaction processing is complete. If so, the trust income is distributed among the remaining primary beneficiaries, as indicated at block 320. This requires trust and annuity contract storage area update at block 321.
  • the system performs a further test at block 322 by fetching all the subscriber storage areas assigned to the trust updated at blocks 320 and 321 and checks to determine if all subscribers have died. If not, processing is complete, an the system returns, as indicated at label 3R, to continue as indicated in
  • this trust must be terminated, as indicated at block 323; specifically, the trust corpus is distributed ratably to the secondary beneficiaries specified by the subscriber areas tested at block 322. Then, at block 324, all data areas for this trust and these subscribers are deleted from the storage means.
  • Fig. 3B if an annuity contract transaction has been detected, processing continues at connector 3B.
  • the system checks for a new annuity, and if so, a new storage area for this annuity is created by 337 to contain data similar to that listed in Table 1, row 2.
  • An annuity transaction will occur when a subscriber purchases a contract.
  • the system updates the annuity contract storage area with the input data.
  • processing continues as indicated at label 3C.
  • the system checks for a new depository, and if so, a new storage area for this depository is created at block 340 to contain data similar to that listed in Table 1, row 4. A new depository will occur when the administrator decides to do business with a new institution and enters a transaction containing descriptive data.
  • the system updates the depository storage area with the input data. Processing then returns to Fig. 3, as indicated at label 3R.
  • Payment tracking means processing begins at block 501 and ends at block 533, after which the system proceeds to the next sequential process.
  • Data input 502 and the test at block 504 implement a loop to extract all annuity contract payment data accumulated for this period from annuity contract system 110.
  • Payment data updates the storage area for the particular annuity contract at block 503.
  • Data input at block 505 and the test at block 509 implement a loop to extract all portfolio and accounting payment data accumulated for this period from portfolio and accounting system 111.
  • the system determines whether the payment is income received, principal paid to a depository, or principal received from a depository, respectively.
  • the system For income received, as indicated at block 510, the system updates the payment history in the storage area for the particular deposit contract involved. Then, at block 511, the system accumulates the total income received by the benefit structure in this period by summing the income for all deposit contracts. This information updates the system record, which contains data similar to Table 1, row 6.
  • Fig. 4C depicts system processing for principal paid to a depository.
  • the system determines whether this represents an investment in a new deposit contract, and if so, a new storage area for a deposit contract is created at block 537 to contain data similar to that listed in Table 1, row 5. Then the deposit contract storage area is updated at block 535 and the depository storage area is updated at block 536 to reflect the new increased balance.
  • the depository storage area is updated at block 512 to reflect the new decreased balance and the deposit contract record storage area is marked redeemed at block 513.
  • Fig. 4A beginning with a storage area fetch as indicated at block 514, the system proceeds through block 521 to implement a scan of all subscriber storage areas stored in disk storage 103. For each subscriber area, process steps as indicated at blocks 515 to 520 are performed to determine the current value of each subscriber's total investment in the benefit structure, the total value of the benefit configuration, and the net total of all subscriber payments. All the subscriber's annuity contract storage areas are fetched at block 515. Subscriber net total payment is computed from these areas. The value of the investment of a dead subscriber, tested at block 516, is simply the final principal balance of all owned annuity contracts, which is updated at block 517.
  • the current value of all annuity contracts is computed, by means known to those of skill in the art, at block 518.
  • the subscriber total investment current value and net payments are updated.
  • all the subscriber values and payments are summed to obtain the total value of the investment structure and the total net payment into the structure. These values update the system record.
  • Payment tracking means processing continues as depicted in Fig. 4B. Beginning with a storage fetch at block 522, the system proceeds through block 524 to implement another subscriber storage area scan during which each subscriber's percentage ownership of the benefit structure is computed at block 523. This is simply done by dividing the value of each subscriber's investment by the total value of the structure.
  • the system proceeds through block 531 to implement a scan of all depository storage areas stored in disk storage 103. For each depository area, process steps at blocks 526 to 530 are performed to determine the current deposit at each depository and the total deposits made by the benefit structure. This is simply done by fetching all deposit contracts for a depository, as indicated at block 526. If a contract is marked redeemed, at block 527, its storage area is deleted at block 528. The total of all deposits from all the deposit contracts updates the depository record at block 529. The depository totals are then summed to compute the total system deposit at block 530. This information updates the system record.
  • Trust payment means processing begins at block 601 and ends at block 609, after which the system proceeds to the next sequential process. Beginning with a storage area fetch at block 602, the system proceeds through block 608 to implement a scan of all trust areas stored in disk storage 103. For each trust area, process steps at blocks 603 to 607 are performed.
  • the system computes the particular trust's percentage ownership of the benefit structure by dividing the trust's principal value by the total value of the benefit structure (from the system record) .
  • the income allocated to this trust is computed by multiplying this percentage by the total income for this period (from the system record) , as indicated at block 604.
  • the system fetches storage areas for all living subscribers assigned to this trust; at block 606, the system divides the allocated trust income ratably among these subscribers; and at block 607, the system generates data representing payment orders to pay such amounts to the subscribers. This data is transferred to portfolio and accounting system 111, to carry out these financial actions.
  • Depository monitoring means processing begins at block 701 and ends at block 709, after which the system proceeds to the next sequential process. Beginning with a storage area at block fetch 702, the system proceeds through block 708 to implement a scan of all depository areas stored in disk storage 103. For each depository area, process steps at block 703 to 707 are performed.
  • the system obtains the subscriber storage area with the maximum percentage ownership of the investment structure. (These percentages were computed at block 523.) This percentage multiplied by this particular depository total deposit is computed at block 704. This must be less than the FDIC limit (currently $100,000) in order that all subscribers be completely covered by FDIC insurance at this depository, as indicated at block 705. If this test is not met, at block 706 the system generates data representing deposit contract sell orders which will redeem sufficient deposit contracts such that this limit will be met. This sell order data is transferred to portfolio & accounting system 111 to carry out these financial actions.
  • Bidding means processing begins at block 801 and ends at block 806, after which the system proceeds to the next sequential process. Beginning with a storage area fetch at block 802, the system proceeds through block 805 to implement a scan of all depository areas stored in disk storage 103. For each depository area, process steps at blocks 803 to 804 are performed.
  • Investing means processing begins at block 901 and ends at block 905, after which the system proceeds to the next sequential process.
  • the system fetches from disk storage 103 the deposit contract offers of all depositories, which were previously stored by the bidding means at block 804.
  • the system sorts these in an order of attractiveness. For example, this may be in order of expected yield, as determined by the contract offer terms and interest rate forecast for future years. Computing such expected yield is a process well known in the financial arts. If no funds are available, as indicated at block 904, the investing process exits at block 905.
  • the next best deposit offer is selected at block 906 from the list generated at block 903.
  • the subprocess indicated at block 907 checks to assure that, after investment in this offer, the FDIC limit will be met for this depository. If not, the process loops to try again at block 904. If so, then at block 908 the system generates data representing a deposit contract buy order. This buy order data is transferred to portfolio & accounting system 111 to carry out this financial action. The available funds are decremented at block 909. The process loops to try additional investment at block 904.
  • Reporting means processing begins at block 1001 and ends at block 1007, after which the system exits from its processing for this period, as indicated in Fig. 2 at block 212.
  • Subprocess steps at blocks 1002 to 1006 generate reports on all entities stored by the system in disk storage 103. These entities are listed in Table 1.
  • Fig. 9A details these report subprocesses, one for each type of entity. They begin processing at block 1008 and exit at block 1016. Beginning with a storage area fetch at block 1009, the system proceeds through block 1015 to implement a scan of all storage areas of the particular entity stored in disk storage 103. At block 1010, the system generates exception reports requiring immediate auditing or administrative attention. For example, exception conditions for subscribers may include a missed annuity premium; for depositories, an out of balance condition, etc. For the correct date, which may be weekly, quarterly, yearly, etc. , at block 1013 the system generates detail reports, for example listing all entity instances, and summary reports, for example providing totals of various quantities of interest.

Landscapes

  • Engineering & Computer Science (AREA)
  • Business, Economics & Management (AREA)
  • Strategic Management (AREA)
  • Entrepreneurship & Innovation (AREA)
  • Human Resources & Organizations (AREA)
  • Operations Research (AREA)
  • Economics (AREA)
  • Marketing (AREA)
  • Data Mining & Analysis (AREA)
  • Quality & Reliability (AREA)
  • Tourism & Hospitality (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

La présente invention concerne un système de traitement de données et un procédé de traitement informatique (102) de données servant à gérer une structure de comptes de placement (111). Selon certains modes préférés de réalisation, cette structure de comptes (111) est composée d'un ou plusieurs contrats de rente (110) ou d'assurance-vie, chaque contrat appartenant à un ou plusieurs souscripteurs individuels (104). Des primes sont payées pour les contrats et sont investies dans un ou plusieurs comptes de dépôt (108), assurés par une assurance-dépôts, auprès d'une ou plusieurs institutions financières (108). Selon un autre mode de réalisation, des contrats de rente (110) sont structurés en une ou plusieurs fiducies irrévocables (315), le capital et/ou le revenu (108) de chaque souscripteur (104) étant placé dans une masse fiduciaire d'une des fiducies irrévocables (317). Chaque souscripteur (104) a un premier bénéficiaire (souvent le souscripteur (104) lui-même) et un second bénéficiaire (323). Lorsqu'un souscripteur meurt (319), le revenu de la société fiduciaire (204) est distribué (320) aux premiers bénéficiaires restants. A la mort du dernier souscripteur (104), l'intégralité de la fiducie (315) est distribuée (323) de manière proportionnelle aux seconds bénéficiaires (323).
PCT/US1994/002152 1994-02-28 1994-02-28 Systeme de traitement de donnees et procede de gestion d'une structure d'assurance de comptes d'epargne Ceased WO1995023379A1 (fr)

Priority Applications (2)

Application Number Priority Date Filing Date Title
AU65868/94A AU6586894A (en) 1994-02-28 1994-02-28 Data processing system and method for maintaining an insured savings account structure
PCT/US1994/002152 WO1995023379A1 (fr) 1994-02-28 1994-02-28 Systeme de traitement de donnees et procede de gestion d'une structure d'assurance de comptes d'epargne

Applications Claiming Priority (1)

Application Number Priority Date Filing Date Title
PCT/US1994/002152 WO1995023379A1 (fr) 1994-02-28 1994-02-28 Systeme de traitement de donnees et procede de gestion d'une structure d'assurance de comptes d'epargne

Publications (1)

Publication Number Publication Date
WO1995023379A1 true WO1995023379A1 (fr) 1995-08-31

Family

ID=22242306

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US1994/002152 Ceased WO1995023379A1 (fr) 1994-02-28 1994-02-28 Systeme de traitement de donnees et procede de gestion d'une structure d'assurance de comptes d'epargne

Country Status (2)

Country Link
AU (1) AU6586894A (fr)
WO (1) WO1995023379A1 (fr)

Cited By (13)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
EP0955595A1 (fr) * 1994-09-02 1999-11-10 Frank M. Sexton Méthode, système et produit d'assurance-vie
US6304859B1 (en) * 1996-01-16 2001-10-16 Evergreen Group, Incorporated System and method for premium optimization and loan monitoring
US6374231B1 (en) * 1998-10-21 2002-04-16 Bruce Bent Money fund banking system
US6950805B2 (en) * 2000-11-09 2005-09-27 Bart Kavanaugh System for funding, analyzing and managing life insurance policies funded with annuities
US7313543B1 (en) * 1999-10-12 2007-12-25 Ameriprise Financial, Inc. System and method for dividing a remittance and distributing a portion of the funds to multiple investment products
US7509286B1 (en) 1998-10-21 2009-03-24 Reserve Management Corporation Systems and methods for money fund banking with flexible interest allocation
US7519551B2 (en) 1998-10-21 2009-04-14 Island Intellectual Property Llc Systems and methods for administering return sweep accounts
US7536350B1 (en) 1998-10-21 2009-05-19 Island Intellectual Property Llc Systems and methods for providing enhanced account management services for multiple banks
US7620593B1 (en) 2002-06-27 2009-11-17 Fultz Leigh S Method for capital creation for tax-exempt organizations
US7680734B1 (en) 1998-10-21 2010-03-16 Island Intellectual Property Llc Money fund banking system
US9374370B1 (en) 2015-01-23 2016-06-21 Island Intellectual Property, Llc Invariant biohash security system and method
US9430798B1 (en) 2009-05-26 2016-08-30 Island Intellectual Propery Llc Method and system for allocating deposits over a plurality of depository institutions
US10068294B1 (en) 2009-11-24 2018-09-04 Island Intellectual Property Llc Method and system for allocating funds over a plurality of time deposit instruments in depository institutions

Citations (7)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4554418A (en) * 1983-05-16 1985-11-19 Toy Frank C Information monitoring and notification method and apparatus
US4674044A (en) * 1985-01-30 1987-06-16 Merrill Lynch, Pierce, Fenner & Smith, Inc. Automated securities trading system
US4823265A (en) * 1987-05-11 1989-04-18 Nelson George E Renewable option accounting and marketing system
US4985833A (en) * 1988-08-24 1991-01-15 First City, Texas- N. A. Extended coverage monetary regulation system
US5148365A (en) * 1989-08-15 1992-09-15 Dembo Ron S Scenario optimization
US5231571A (en) * 1990-08-14 1993-07-27 Personal Financial Assistant, Inc. Personal financial assistant computer method
US5262942A (en) * 1990-06-05 1993-11-16 Bankers Trust Company Financial transaction network

Patent Citations (7)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4554418A (en) * 1983-05-16 1985-11-19 Toy Frank C Information monitoring and notification method and apparatus
US4674044A (en) * 1985-01-30 1987-06-16 Merrill Lynch, Pierce, Fenner & Smith, Inc. Automated securities trading system
US4823265A (en) * 1987-05-11 1989-04-18 Nelson George E Renewable option accounting and marketing system
US4985833A (en) * 1988-08-24 1991-01-15 First City, Texas- N. A. Extended coverage monetary regulation system
US5148365A (en) * 1989-08-15 1992-09-15 Dembo Ron S Scenario optimization
US5262942A (en) * 1990-06-05 1993-11-16 Bankers Trust Company Financial transaction network
US5231571A (en) * 1990-08-14 1993-07-27 Personal Financial Assistant, Inc. Personal financial assistant computer method

Cited By (30)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
AU766112B2 (en) * 1994-09-02 2003-10-09 Swinton B Burkhalter Life insurance method, system and product
EP0955595A1 (fr) * 1994-09-02 1999-11-10 Frank M. Sexton Méthode, système et produit d'assurance-vie
US6304859B1 (en) * 1996-01-16 2001-10-16 Evergreen Group, Incorporated System and method for premium optimization and loan monitoring
US7680734B1 (en) 1998-10-21 2010-03-16 Island Intellectual Property Llc Money fund banking system
US6374231B1 (en) * 1998-10-21 2002-04-16 Bruce Bent Money fund banking system
US7509286B1 (en) 1998-10-21 2009-03-24 Reserve Management Corporation Systems and methods for money fund banking with flexible interest allocation
US7519551B2 (en) 1998-10-21 2009-04-14 Island Intellectual Property Llc Systems and methods for administering return sweep accounts
US7536350B1 (en) 1998-10-21 2009-05-19 Island Intellectual Property Llc Systems and methods for providing enhanced account management services for multiple banks
US8571984B1 (en) 1998-10-21 2013-10-29 Island Intellectual Property Llc Systems and methods for providing enhanced account management services for multiple banks
USRE43246E1 (en) * 1998-10-21 2012-03-13 Island Intellectual Property Llc Money fund bank system
US7313543B1 (en) * 1999-10-12 2007-12-25 Ameriprise Financial, Inc. System and method for dividing a remittance and distributing a portion of the funds to multiple investment products
US7644022B2 (en) 2000-11-09 2010-01-05 Bart Kavanaugh System for funding, analyzing and managing life insurance policies funded with annuities
US6950805B2 (en) * 2000-11-09 2005-09-27 Bart Kavanaugh System for funding, analyzing and managing life insurance policies funded with annuities
US7620593B1 (en) 2002-06-27 2009-11-17 Fultz Leigh S Method for capital creation for tax-exempt organizations
US9946997B1 (en) 2009-05-26 2018-04-17 Island Intellectual Property Llc Method and system for allocating deposits over a plurality of depository institutions
US9430798B1 (en) 2009-05-26 2016-08-30 Island Intellectual Propery Llc Method and system for allocating deposits over a plurality of depository institutions
US11367138B1 (en) 2009-05-26 2022-06-21 Island Intellectual Property Llc Method and system for allocating deposits over a plurality of depository institutions
US10552910B1 (en) 2009-05-26 2020-02-04 Island Intellectual Property Llc Method and system for allocating deposits over a plurality of depository institutions
US9607335B1 (en) 2009-05-26 2017-03-28 Island Intellectual Property, Llc Method and system for allocating deposits over a plurality of depository institutions
US9811811B1 (en) 2009-05-26 2017-11-07 Island Intellectual Property Llc Method and system for allocating deposits over a plurality of depository institutions
US10068294B1 (en) 2009-11-24 2018-09-04 Island Intellectual Property Llc Method and system for allocating funds over a plurality of time deposit instruments in depository institutions
US9374370B1 (en) 2015-01-23 2016-06-21 Island Intellectual Property, Llc Invariant biohash security system and method
US9904914B1 (en) 2015-01-23 2018-02-27 Island Intellectual Property, Llc Notification system and method
US9965750B1 (en) 2015-01-23 2018-05-08 Island Intellectual Property, Llc Notification system and method
US9805344B1 (en) 2015-01-23 2017-10-31 Island Intellectual Property, Llc Notification system and method
US10134035B1 (en) 2015-01-23 2018-11-20 Island Intellectual Property, Llc Invariant biohash security system and method
US9569773B1 (en) 2015-01-23 2017-02-14 Island Intellectual Property, Llc Invariant biohash security system and method
US10623182B1 (en) 2015-01-23 2020-04-14 Island Intellectual Property, Llc Invariant biohash security system and method
US10832317B1 (en) 2015-01-23 2020-11-10 Island Intellectual Property, Llc Systems, methods, and program products for performing deposit sweep transactions
US9483762B1 (en) 2015-01-23 2016-11-01 Island Intellectual Property, Llc Invariant biohash security system and method

Also Published As

Publication number Publication date
AU6586894A (en) 1995-09-11

Similar Documents

Publication Publication Date Title
US5864685A (en) Increasing income trust computer transaction system and insured investment account system
US6061661A (en) System for monitoring increasing income financial products
US6415267B1 (en) System for monitoring increasing income financial products
Aryeetey Rural finance in Africa: Institutional developments and access for the poor
US5878405A (en) Pension planning and liquidity management system
US7831496B2 (en) Financial instrument providing a guaranteed growth rate and a guarantee of lifetime payments
Elton et al. Tax and liquidity effects in pricing government bonds
US6684189B1 (en) Apparatus and method using front-end network gateways and search criteria for efficient quoting at a remote location
US5806042A (en) System for designing and implementing bank owned life insurance (BOLI) with a reinsurance option
Yaron Successful rural finance institutions
US6513020B1 (en) Proxy asset data processor
US20110040664A1 (en) Home Asset Value Enhancement Notes (HAVENs)
US20020194099A1 (en) Proxy asset system and method
US20040267647A1 (en) Capital market products including securitized life settlement bonds and methods of issuing, servicing and redeeming same
US11295387B2 (en) System and method for providing a financial instrument with an asset transfer feature
US8396774B2 (en) System and method for providing a financial instrument with a periodic step-up feature
US8504460B2 (en) System and method for providing a financial instrument utilizing a liability ratio
JP2001511566A (ja) 年金資金の投資アドバイス及び管理を行うシステム
WO1995023379A1 (fr) Systeme de traitement de donnees et procede de gestion d'une structure d'assurance de comptes d'epargne
Nesbitt Private debt: opportunities in corporate direct lending
Brewer III et al. Why the life insurance industry did not face an" S&L-type" crisis
US20020138388A1 (en) Method and system for reconciling equity hedge funds
US8788409B1 (en) Enhancing income using line of credit sweep account
US20040059656A1 (en) System and method for providing a financial product linked to a specific return
RU2312394C2 (ru) Способ и система для создания инвестиционного инструмента в виде набора представляемых активов, способ и устройство (варианты) для осуществления банковского инвестирования, способ и устройство (варианты) для торговли на бирже, способ и устройство (варианты) для управления набором представляемых активов, способ передачи сигналов, способ создания акций и набор акций представляемого актива

Legal Events

Date Code Title Description
AK Designated states

Kind code of ref document: A1

Designated state(s): AU BB BG BR BY CA CN CZ FI GB GE HU JP KR KZ LK LV MG MN MW NO NZ PL RO RU SD SK UA UZ

AL Designated countries for regional patents

Kind code of ref document: A1

Designated state(s): AT BE CH DE DK ES FR GB GR IE IT LU MC NL PT SE BF BJ CF CG CI CM GA GN ML MR NE SN TD TG

121 Ep: the epo has been informed by wipo that ep was designated in this application
DFPE Request for preliminary examination filed prior to expiration of 19th month from priority date (pct application filed before 20040101)
122 Ep: pct application non-entry in european phase
NENP Non-entry into the national phase

Ref country code: CA