Patents by Inventor Jonathan L. Mercier
Jonathan L. Mercier 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).
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Patent number: 8374945Abstract: A computer system for processing data related to financial instruments for providing deferred income includes a data storage device storing data relating to financial instruments representing a right to receive deferred periodic payments includes, for classes of financial instruments, a price, payment amount and frequency, deferral data, and one or more permitted values of one or more actuarial factors of purchasers. The system further includes a processor configured to receive via a communication module data indicative of a request to purchase financial instruments, including a purchase payment amount and one or more values of the one or more actuarial factors of an individual purchaser, and to determine, based on the received data, a number and class of the financial instruments for issue to the individual purchaser and to output data for generation of the determined number and class of the financial instruments for issue to the individual purchaser.Type: GrantFiled: July 23, 2012Date of Patent: February 12, 2013Inventors: Jonathan L. Mercier, Patricia L. Harris
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Publication number: 20120290504Abstract: A computer system for processing data related to financial instruments for providing deferred income includes a data storage device storing data relating to financial instruments representing a right to receive deferred periodic payments includes, for classes of financial instruments, a price, payment amount and frequency, deferral data, and one or more permitted values of one or more actuarial factors of purchasers. The system further includes a processor configured to receive via a communication module data indicative of a request to purchase financial instruments, including a purchase payment amount and one or more values of the one or more actuarial factors of an individual purchaser, and to determine, based on the received data, a number and class of the financial instruments for issue to the individual purchaser and to output data for generation of the determined number and class of the financial instruments for issue to the individual purchaser.Type: ApplicationFiled: July 23, 2012Publication date: November 15, 2012Applicant: HARTFORD FIRE INSURANCE COMPANYInventors: Jonathan L. Mercier, Patricia L. Harris
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System and method for processing data related to financial instruments for providing deferred income
Patent number: 8229829Abstract: A computer system for processing data related to financial instruments for providing deferred income includes a data storage device storing data relating to financial instruments representing a right to receive a fixed amount at fixed intervals for a lifetime commencing at a fixed start date, and, for classes of financial instruments, a price of the instrument, the fixed amount, interval and start date. The system further includes a processor configured to receive via a communication module data indicative of a request to purchase financial instruments, including a payment amount, age of the individual purchaser, and to determine, based on the received payment amount and age data, a number and class of the financial instruments for issue to the individual purchaser and to output data for generation of the determined number and class of the financial instruments for issue to the individual purchaser.Type: GrantFiled: December 27, 2011Date of Patent: July 24, 2012Assignee: Hartford Fire Insurance CompanyInventors: Jonathan L. Mercier, Patricia L. Harris -
SYSTEM AND METHOD FOR PROCESSING DATA RELATED TO FINANCIAL INSTRUMENTS FOR PROVIDING DEFERRED INCOME
Publication number: 20120116999Abstract: A computer system for processing data related to financial instruments for providing deferred income includes a data storage device storing data relating to financial instruments representing a right to receive a fixed amount at fixed intervals for a lifetime commencing at a fixed start date, and, for classes of financial instruments, a price of the instrument, the fixed amount, interval and start date. The system further includes a processor configured to receive via a communication module data indicative of a request to purchase financial instruments, including a payment amount, age of the individual purchaser, and to determine, based on the received payment amount and age data, a number and class of the financial instruments for issue to the individual purchaser and to output data for generation of the determined number and class of the financial instruments for issue to the individual purchaser.Type: ApplicationFiled: December 27, 2011Publication date: May 10, 2012Applicant: Hartford Fire Insurance CompanyInventors: Jonathan L. MERCIER, Patricia L. HARRIS -
Patent number: 8131622Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a specified age. Furthermore, the guaranteed stream is utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated liquid assets.Type: GrantFiled: November 23, 2010Date of Patent: March 6, 2012Assignee: Hartford Fire Insurance CompanyInventors: Jonathan L. Mercier, Ken A. McCullum
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Patent number: 8112345Abstract: The present invention provides an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a specified age. Furthermore, the guaranteed stream is utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated liquid assets.Type: GrantFiled: December 3, 2010Date of Patent: February 7, 2012Assignee: Hartford Fire Insurance CompanyInventors: Jonathan L. Mercier, Ken A. McCullum
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Patent number: 8112346Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares certifies that an individual is entitled to receive a predetermined, periodic income payment for the life of the purchaser. Additionally, the lifetime income shares of the present invention may be purchased and distributed to participants by a third party (e.g. commingled fund). The third party wishing to provide the lifetime income shares of the present invention to participants may purchase a predetermined amount of shares of an annuity from the underwriting organization and distribute it to the participants. This plan has an investment phase, a distribution phase, and a payout phase. Once the payout phase begins, the stream of monthly income commences at a specified age or date.Type: GrantFiled: July 7, 2011Date of Patent: February 7, 2012Assignee: Hartford Fire Insurance CompanyInventors: Jonathan L. Mercier, Patricia L. Harris
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Publication number: 20110264604Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares certifies that an individual is entitled to receive a predetermined, periodic income payment for the life of the purchaser. Additionally, the lifetime income shares of the present invention may be purchased and distributed to participants by a third party (e.g. commingled fund). The third party wishing to provide the lifetime income shares of the present invention to participants may purchase a predetermined amount of shares of an annuity from the underwriting organization and distribute it to the participants. This plan has an investment phase, a distribution phase, and a payout phase. Once the payout phase begins, the stream of monthly income commences at a specified age or date.Type: ApplicationFiled: July 7, 2011Publication date: October 27, 2011Applicant: HARTFORD FIRE INSURANCE COMPANYInventors: Jonathan L. Mercier, Patricia L. Harris
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Patent number: 7979337Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares certifies that an individual is entitled to receive a predetermined, periodic income payment for the life of the purchaser. Additionally, the lifetime income shares of the present invention may be purchased and distributed to participants by a third party (e.g. commingled fund). The third party wishing to provide the lifetime income shares of the present invention to participants may purchase a predetermined amount of shares of an annuity from the underwriting organization and distribute it to the participants. This plan has an investment phase, a distribution phase, and a payout phase. Once the payout phase begins, the stream of monthly income commences at a specified age or date.Type: GrantFiled: September 27, 2010Date of Patent: July 12, 2011Assignee: Hartford Fire Insurance CompanyInventors: Jonathan L. Mercier, Patricia L. Harris
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Publication number: 20110119095Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a specified age. Furthermore, the guaranteed stream is utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated liquid assets.Type: ApplicationFiled: November 23, 2010Publication date: May 19, 2011Applicant: HARTFORD FIRE INSURANCE COMPANYInventors: Jonathan L. Mercier, Ken A. McCullum
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Publication number: 20110077979Abstract: The present invention provides an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a specified age. Furthermore, the guaranteed stream is utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated liquid assets.Type: ApplicationFiled: December 3, 2010Publication date: March 31, 2011Applicant: HARTFORD FIRE INSURANCE COMPANYInventors: Jonathan L. Mercier, Ken A. McCullum
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Publication number: 20110016061Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares certifies that an individual is entitled to receive a predetermined, periodic income payment for the life of the purchaser. Additionally, the lifetime income shares of the present invention may be purchased and distributed to participants by a third party (e.g. comingled fund). The third party wishing to provide the lifetime income shares of the present invention to participants may purchase a predetermined amount of shares of an annuity from the underwriting organization and distribute it to the participants. This plan has an investment phase, a distribution phase, and a payout phase. Once the payout phase begins, the stream of monthly income commences at a specified age or date.Type: ApplicationFiled: September 27, 2010Publication date: January 20, 2011Applicant: HARTFORD FIRE INSURANCE COMPANYInventors: Jonathan L. Mercier, Patricia L. Harris
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Patent number: 7853509Abstract: The present invention provides an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a specified age. Furthermore, the guaranteed stream is utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated liquid assets.Type: GrantFiled: March 16, 2007Date of Patent: December 14, 2010Assignee: Hartford Fire Insurance CompanyInventors: Jonathan L. Mercier, Ken A. McCullum
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Patent number: 7840469Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a specified age. Furthermore, the guaranteed stream is utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated liquid assets.Type: GrantFiled: August 3, 2007Date of Patent: November 23, 2010Assignee: Hartford Fire Insurance CompanyInventors: Jonathan L. Mercier, Ken A. Mccullum
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Patent number: 7805352Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares certifies that an individual is entitled to receive a predetermined, periodic income payment for the life of the purchaser. Additionally, the lifetime income shares of the present invention may be purchased and distributed to participants by a third party (e.g. commingled fund). The third party wishing to provide the lifetime income shares of the present invention to participants may purchase a predetermined amount of shares of an annuity from the underwriting organization and distribute it to the participants. This plan has an investment phase, a distribution phase, and a payout phase. Once the payout phase begins, the stream of monthly income commences at a specified age or date.Type: GrantFiled: May 15, 2008Date of Patent: September 28, 2010Assignee: Hartford Fire Insurance CompanyInventors: Jonathan L. Mercier, Patricia L. Harris
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Publication number: 20080301035Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares certifies that an individual is entitled to receive a predetermined, periodic income payment for the life of the purchaser. Additionally, the lifetime income shares of the present invention may be purchased and distributed to participants by a third party (e.g. commingled fund). The third party wishing to provide the lifetime income shares of the present invention to participants may purchase a predetermined amount of shares of an annuity from the underwriting organization and distribute it to the participants. This plan has an investment phase, a distribution phase, and a payout phase. Once the payout phase begins, the stream of monthly income commences at a specified age or date.Type: ApplicationFiled: May 15, 2008Publication date: December 4, 2008Inventors: Jonathan L. Mercier, Patricia L. Harris
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Publication number: 20080140586Abstract: The present invention provides a system and method for administering an investment option known as a lifetime income share. Lifetime income shares mitigate survival risk, the risk that an individual will outlive his or her assets. More specifically, the purchase of a plurality of lifetime income shares guarantees an individual a predetermined, periodic income payment for the life of the purchaser. The guaranteed stream of monthly income commences at a specified age. Furthermore, the guaranteed stream is utilized to supplement an existing income level or provide income in the event that the individual outlives his or her accumulated liquid assets.Type: ApplicationFiled: August 3, 2007Publication date: June 12, 2008Inventors: Jonathan L. Mercier, Ken A. Mccullum