Patents by Inventor Joel Prough

Joel Prough has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • System and process for providing multiple income start dates for annuities
    Patent number: 8412545
    Abstract: The present invention provides a method for providing an annuity structure and a system for processing an annuity structure. The annuity structure may include a base portion segment, where the base portion segment is a functional annuity having a first annuity schedule; and a secondary portion segment, where the secondary portion segment is a functional annuity having a second annuity schedule. In the invention, the base portion segment and the secondary portion segment each operate as its own annuity. Also, the base portion segment and the secondary portion segment are each included in a single contract, i.e., under the umbrella of one contract.
    Type: Grant
    Filed: September 15, 2004
    Date of Patent: April 2, 2013
    Assignee: Genworth Financial, Inc.
    Inventors: Geoffrey S. Stiff, Holly R. Snyder, Joel A. Prough, Brian E. Springer
  • Investment product, methods and system for administration thereof
    Publication number: 20080071661
    Abstract: A method of providing an investment product, and supporting administration system and annuity product. The product is an investment contract or agreement preferably of an annuity type, providing investment returns substantially mirroring the performance of an index and allowing an investor to begin receiving or deferring periodic payments on or after a predetermined date, at the election of the investor; if the investor elects to defer one or more payments, the investor may later elect to receive said one or more deferred payments, at a date of that entity's choosing, which will also start the delivery of periodic payments. During the deferral, the deferred payments earn a return tax-deferred (subject to currently enforceable tax laws). The investment return is preferably a function of an index but not less than zero, periodically (e.g., annually) locking in past gains and assuring against losses that can eliminate past periods' gains.
    Type: Application
    Filed: April 27, 2007
    Publication date: March 20, 2008
    Applicant: Sun Life Assurance Company of Canada
    Inventors: Fabien Jeudy, Joel Prough, Karen Rodeo, Alexander Borskiy, Adele Walsh
  • System and process for providing multiple income start dates for annuities
    Publication number: 20050187840
    Abstract: The present invention provides a method for providing an annuity structure and a system for processing an annuity structure. The annuity structure may include a base portion segment, where the base portion segment is a functional annuity having a first annuity schedule; and a secondary portion segment, where the secondary portion segment is a functional annuity having a second annuity schedule. In the invention, the base portion segment and the secondary portion segment each operate as its own annuity. Also, the base portion segment and the secondary portion segment are each included in a single contract, i.e., under the umbrella of one contract.
    Type: Application
    Filed: September 15, 2004
    Publication date: August 25, 2005
    Inventors: Geoffrey Stiff, Holly Snyder, Joel Prough, Brian Springer