Abstract: In at least one embodiment computerized methods and corresponding systems for providing guaranteed income payments to an investor are provided that include the step or steps of: receiving information from the investor representing at least a current age of the investor, a desired income start date, a desired income payment amount, and a premium payment amount; receiving a premium payment from the investor and placing the premium payment into a first investment sleeve; and automatically transferring using at least one computing device, during a waiting period and according to a predefined event, a portion of the premium payment from the first investment sleeve to a second investment sleeve, wherein the portion of the premium payment transferred calculated by the at least one computing device as a function of a time remaining in the waiting period and the desired income amount.
Type:
Application
Filed:
March 10, 2011
Publication date:
September 13, 2012
Applicant:
NEW YORK LIFE INSURANCE COMPANY
Inventors:
Nikhil A. Advani, George E. Silos, Cheryl Ann Reese
Abstract: The present invention provides methods, computer media and systems for providing a hybrid life insurance and non-life insurance investment product for an individual.
Type:
Application
Filed:
February 10, 2011
Publication date:
August 16, 2012
Applicant:
New York Life Insurance Company
Inventors:
Michael J. Gordon, Michelle O. Richter, Paul C. McClung
Abstract: The present invention provides methods and systems for providing longevity insurance by obtaining information useful for issuing a longevity insurance contract for an individual, and determining a premium or an income payment for the individual that are computed based at least in part on an individual's age at a predetermined date that income payments are deferred to. The longevity insurance contract generally provides deferred income payments for a period of time, such as for the life of the individual, beginning at a predetermined date that is after an individual's anticipated retirement, or at a predetermined date that is after the individual's life expectancy, or on or after a specified birthday of the individual.
Type:
Grant
Filed:
May 4, 2007
Date of Patent:
July 31, 2012
Assignee:
New York Life Insurance Company
Inventors:
Jodi L. Kravitz, John R. Meyer, Michael J. Gordon
Abstract: A computerized method and system for allocating assets among a plurality of financial products for an investor portfolio includes calculating a solution space of financial vehicle combinations by assigning allocations to each financial vehicle in each financial vehicle combination and generating a set of simulations, for each of the vehicle combinations, of a value of the financial vehicle combination. The computerized method and system further includes receiving investor-specific information, the investor-specific information including a retirement objective. The method and system further includes selecting a set of financial vehicle combinations within the solution space based on the received investor-specific information; and allocating assets among the plurality of financial products based on the set of selected financial vehicle combinations and received investor-specific information.
Abstract: The present invention provides methods and systems for providing juvenile insurance having a waiver of premium feature at a premium or death benefit computed based on a variable that is not directly dependent on the age, health, or gender of the initial owner or payor. In one embodiment, the premium or death benefit are computed based at least in part on a payor's affiliation with a group of acceptable payors marketed for juvenile insurance by an insurer, and a probability associated with an incidence of an event that triggers the waiver of premium feature occurring to an individual of the group or a subset of the group.
Type:
Grant
Filed:
November 26, 2003
Date of Patent:
September 14, 2010
Assignee:
New York Life Insurance Company
Inventors:
Robert J. Polilli, Michael A. Pfalzer, Jennifer L. Brady
Abstract: This invention provides methods and systems for providing an insurance policy having an inflation protection option that is computed at least partially based on information useful in offering a long term care insurance policy to an individual and at least partially based on the option for the individual to purchase additional coverage at a subsequent premium that is computed based at least partially on the individual's age at a date, which date is other than the date the option to purchase the additional coverage is offered, such as the date the policy issued.