NEW YORK LIFE INSURANCE COMPANY Patent applications |
Patent application number | Title | Published |
20140317016 | SYSTEM AND METHOD FOR PROVIDING INCOME PAYMENTS TO AN INVESTOR - 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. | 10-23-2014 |
20140046702 | Methods and systems for providing liquidity options and permanent legacy benefits for annuities - This invention relates to methods and systems that provide annuities with at least one liquidity option that allows the holder of the liquidity option to exercise the option and convert therewith a portion of a value of the annuity into a liquid asset, such as cash or a cash value, based on the value of future income payments, which can include payments that are guaranteed to be paid for the duration of one or more lifetime. The conversion may be in a variety of forms, such as an advance of at least a portion of the future income payments, or in the form a lump sum distribution of at least a portion of a commuted value of the annuity computed based at least in part on the present value, at the time of the conversion, of future income payments for the remainder of the guarantee period. This invention further relates to methods and systems that provide annuities including a liquid legacy benefit option that provide a lump sum distribution of a portion of an annuity premium to a beneficiary at the end of the guarantee period that is substantially certain at the inception of the annuity. | 02-13-2014 |
20130179366 | SYSTEM AND METHOD FOR PROVIDING INCOME PAYMENTS TO AN INVESTOR - 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. | 07-11-2013 |
20130097098 | METHODS AND SYSTEMS FOR PROVIDING DEFERRED ANNUITIES WITH AN INCOME RESET FEATURE - Methods and corresponding systems are provided for providing and administering deferred annuities with an annuity reset feature that provide periodic income payments to an annuitant for a term beginning at a start date. The methods include the step or steps of: receiving annuity information for an annuitant; determining at a first date one of a purchase price and an amount of at least one income payment due to the annuitant at the start date. The purchase price or the amount of at least one income payment due the annuitant includes a fee for the annuity reset feature that resets at least one variable of the annuity at a reset date later than the first date if the at least one variable of the annuity at the reset date is more beneficial to the annuitant than at least the first date; and offering the annuity with the reset feature to the annuitant. | 04-18-2013 |
20130018678 | FAMILY PROTECTION INSURANCE METHOD AND SYSTEM - Family protection insurance provides for a flexible and adjustable insurance policy that can be adjustable to be consistent with changes in the adult's insurance needs. The insurance policy is a term policy where, at predefined intervals, the policy owner may increase the policy value without requiring additional underwriting. The policy owner may also, at any time, convert all or a portion of the term policy to permanent insurance, while still maintaining the term policy and replenish the death benefit amounts of the term policy through the intermittent value increments. Thus, adults may adjust the death benefits of the term policy and convert the term policy death benefits to permanent insurance consistent with changing insurance needs. | 01-17-2013 |
20120290331 | METHODS AND SYSTEMS FOR PROVIDING DEFERRED ANNUITIES WITH AN INCOME RESET FEATURE - Methods and corresponding systems are provided for providing and administering deferred annuities with an annuity reset feature that provide periodic income payments to an annuitant for a term beginning at a start date. The methods include the step or steps of: receiving annuity information for an annuitant; determining at a first date one of a purchase price and an amount of at least one income payment due to the annuitant at the start date. The purchase price or the amount of at least one income payment due the annuitant includes a fee for the annuity reset feature that resets at least one variable of the annuity at a reset date later than the first date if the at least one variable of the annuity at the reset date is more beneficial to the annuitant than at least the first date; and offering the annuity with the reset feature to the annuitant. | 11-15-2012 |
20120271662 | METHODS AND SYSTEMS FOR PROVIDING LONGEVITY INSURANCE WITH OR WITHOUT AN ASSET BASED PREMIUM - 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. | 10-25-2012 |
20120233088 | SYSTEM AND METHOD FOR PROVIDING INCOME PAYMENTS TO AN INVESTOR - 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. | 09-13-2012 |
20120209629 | SYSTEMS AND METHODS FOR PROVIDING AN ASSET ALLOCATION WHOLE LIFE INSURANCE OPTION WITH A PREMIUM FUNDING VEHICLE - The present invention provides methods, computer media and systems for providing a hybrid life insurance and non-life insurance investment product for an individual. Embodiments of the methods, computer media and systems include obtaining an initial investment amount for an investment product comprising a life insurance investment component and a non-life insurance investment component and a face amount of the life insurance investment component, calculating a premium payment amount for the life insurance investment component, determining a payment schedule for the premium payment amount, allocating a portion of the initial investment amount to the life insurance investment component and allocating a portion of the initial investment amount to the non-life insurance investment component, and presenting, based at least in part on the allocations of the initial investment amount to the life insurance investment component and to the non-life insurance investment component, the premium payment amount and the payment schedule, the life insurance investment component and the non-life insurance investment component as a combined investment product for an individual in a singular transaction. | 08-16-2012 |
20120116990 | SYSTEM AND METHOD FOR ALLOCATING ASSETS AMONG FINANCIAL PRODUCTS IN AN INVESTOR PORTFOLIO - 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. | 05-10-2012 |