Jonathan L Mercier

US Patent:

7840469, Nov 23, 2010

Filed:

Aug 3, 2007

Appl. No.:

11/890005

Inventors:

Jonathan L. Mercier - Manchester CT, US
Ken A. Mccullum - Simsbury CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 36 T, 705 38

Abstract:

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.

US Patent:

7853509, Dec 14, 2010

Filed:

Mar 16, 2007

Appl. No.:

11/724839

Inventors:

Jonathan L. Mercier - Manchester CT, US
Ken A. McCullum - Simsbury CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 36 T, 705 38

Abstract:

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.

US Patent:

7979337, Jul 12, 2011

Filed:

Sep 27, 2010

Appl. No.:

12/890869

Inventors:

Jonathan L. Mercier - Manchester CT, US
Patricia L. Harris - Burlington CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 36 T, 705 38

Abstract:

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.

US Patent:

8112345, Feb 7, 2012

Filed:

Dec 3, 2010

Appl. No.:

12/959785

Inventors:

Jonathan L. Mercier - Manchester CT, US
Ken A. McCullum - Simsbury CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 37, 705 38, 705 4

Abstract:

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.

US Patent:

8112346, Feb 7, 2012

Filed:

Jul 7, 2011

Appl. No.:

13/178426

Inventors:

Jonathan L. Mercier - Manchester CT, US
Patricia L. Harris - Burlington CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 36 T, 705 38

Abstract:

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.

US Patent:

8131622, Mar 6, 2012

Filed:

Nov 23, 2010

Appl. No.:

12/952279

Inventors:

Jonathan L. Mercier - Manchester CT, US
Ken A. McCullum - Simsbury CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 36 T, 705 38

Abstract:

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.

US Patent:

8229829, Jul 24, 2012

Filed:

Dec 27, 2011

Appl. No.:

13/337656

Inventors:

Jonathan L. Mercier - Manchester CT, US
Patricia L. Harris - Burlington CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 38

Abstract:

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.

US Patent:

8374945, Feb 12, 2013

Filed:

Jul 23, 2012

Appl. No.:

13/555381

Inventors:

Jonathan L. Mercier - Manchester CT, US
Patricia L. Harris - Burlington CT, US

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 38

Abstract:

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.