Abstract: A suitability management system for evaluating insurance product recommendations for customers suitability is provided. The suitability management system may generate a dynamic suitability questionnaire document based on a stored template in view of a number of business rules and the generated suitability document may be provided to the insurance consumer for completion and subsequent scoring. The scored document is evaluated using a comprehensive scoring process to evaluate the consumer's acumen, risk tolerance and solvency. The system is configured to interface with a third party to conduct the suitability analysis.

Abstract: A personalized financial illustration system includes a computer or data processing device, which is configured to implement a method for generating personalized financial illustrations based on summary prospectus format or chassis, incorporating a potential investor's selections of variables defining investment goals, constraints, and an investment plan.

Abstract: A computer system includes an input device. The input device is configured to receive input data for initiating a variable annuity account issued by an insurance company. The input data includes identifying information for the account holder and the amount to be invested in the account. The variable annuity includes a guarantee feature. The computer system also includes a processor, a program memory and a storage device. The processor is operative with program instructions stored in the program memory to allocate the amount invested between two different investment funds. One of the funds includes an equity asset or an equity index asset. The other fund includes a hedging component that is selected to be negatively correlated in terms of asset value changes with the equity asset or equity index asset.

Abstract: A computer-implemented simulation calculates financial consequences and likelihoods for a large number of potential real life events based on demographic data and based on an individual's responses to a questionnaire, in order to predict which types of financial products might best serve the individual's long term needs based on market trends extrapolated from historical market data. The computer-implemented simulation model provides an objective, non-speculative basis for recommending financial products that are most likely to meet the individual's present and future financial needs. The model assumes that any number of different products can satisfy customer needs for matters such as wealth generation, wealth and social status preservation, wealth transfer, or charitable giving. The model also factors whether existing and anticipated funding sources are to be dispensed in the form of a sinking or sustainable fund. Product affordability is also taken into consideration.

Abstract: A computer system for administering an insurance policy and a loan made to the insured, includes a processor and a memory in communication with the processor. The processor is adapted to: access from the memory storage device data relating to the insurance policy and the loan; determine, based on the accessed data, an amount of a withdrawal from the insurance policy and an amount of a payment on the loan; determine, by deducting the amount of the payment on the loan from the amount of the withdrawal, an amount of a payment, if any, to the insured; and provide output signals to a payment system to implement the payment on the loan and the payment, if any, to the insured.