David P Wiland

US Patent:

7848989, Dec 7, 2010

Filed:

Nov 9, 2007

Appl. No.:

11/983512

Inventors:

Charles D. Tatro - Mendon MA, US
David P. Wiland - South Windsor CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 37

Abstract:

A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision.

US Patent:

7962351, Jun 14, 2011

Filed:

Jun 19, 2008

Appl. No.:

12/142295

Inventors:

Dawn M. LeBlanc - Farmington CT, US
David P. Wiland - South Windsor CT, US
Shawn M. Denman - Torrington CT, US
Michael J. Roscoe - South Windsor CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 4

Abstract:

According to some embodiments, a current net amount at risk associated with a life insurance policy is determined. The life insurance policy may, for example, have been previously issued to a consumer for a given face death benefit amount. At least one applicable cost of insurance rate may then be automatically selected based at least in part on the determined net amount at risk. The applicable cost of insurance rate can then be applied to the current net amount at risk for the policy. For example, a first cost of insurance rate may be applied to a first portion of the current net amount at risk, and the applicable cost of insurance rate may be applied to a second portion of the current net amount at risk.

US Patent:

8103571, Jan 24, 2012

Filed:

Oct 6, 2010

Appl. No.:

12/898877

Inventors:

Charles D. Tatro - Mendon MA, US
David P. Wiland - Norristown PA, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 36R, 705 35, 705 38

Abstract:

A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision.

US Patent:

8108298, Jan 31, 2012

Filed:

Sep 20, 2010

Appl. No.:

12/885970

Inventors:

Charles D. Tatro - Mendon MA, US
Jason F. Taylor - New Britain CT, US
David P. Wiland - South Windsor CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 37, 705 4, 705 35, 705 36 R

Abstract:

A computer implemented data processing system and method for administering a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value, a contract value, and a step-up provision. Administration of the product determines whether a step-up of the payment base value is applicable. If applicable, the product determines a step-up, wherein the step-up is guaranteed at a predetermined percentage. The investments of the deferred variable annuity contract are not limited to a specific asset allocation in order to qualify for the step-up provision.

US Patent:

8346576, Jan 1, 2013

Filed:

Nov 7, 2008

Appl. No.:

12/266821

Inventors:

Daniel R. Guilbert - Simsbury CT, US
David P. Wiland - South Windsor CT, US
Xiaobo Zhou - Simsbury CT, US
Jennifer Lynn Healy - Avon CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 4

Abstract:

A guaranteed minimum accumulated benefit (GMAB) variable annuity contract management apparatus stores contract data on GMAB variable annuity contracts having a predetermined contract duration. The apparatus also stores fund data on amounts paid to purchase the contracts. The apparatus computes a portion of the amounts paid that is to be allocated to a bond fund. The apparatus stores data on the portion of the amounts paid to be allocated to the bond fund. A substantial portion, or all, of the bond fund is invested in bonds that have a maturity date that matches the contract duration of the GMAB variable annuity contracts.

US Patent:

8442845, May 14, 2013

Filed:

May 4, 2011

Appl. No.:

13/100519

Inventors:

Dawn M. LeBlanc - Farmington CT, US
David P. Wiland - South Windsor CT, US
Shawn M. Denman - Torrington CT, US
Michael J. Roscoe - South Windsor CT, US

Assignee:

The Prudential Insurance Company of America - Newark NJ

International Classification:

G06Q 40/00

US Classification:

705 4

Abstract:

According to some embodiments, a current net amount at risk associated with a life insurance policy is determined. The life insurance policy may, for example, have been previously issued to a consumer for a given face death benefit amount. At least one applicable cost of insurance rate may then be automatically selected based at least in part on the determined net amount at risk. The applicable cost of insurance rate can then be applied to the current net amount at risk for the policy. For example, a first cost of insurance rate may be applied to a first portion of the current net amount at risk, and the applicable cost of insurance rate may be applied to a second portion of the current net amount at risk.

US Patent:

8447636, May 21, 2013

Filed:

Jun 22, 2012

Appl. No.:

13/530359

Inventors:

Charles D. Tatro - Mendon MA, US
David P. Wiland - Norristown PA, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 4

Abstract:

A computer system for processing data relating to an investment arrangement having an account value dependent on investment performance and available for withdrawal by an account owner includes a data storage device storing data indicative of a present account value, a withdrawal factor value, a present payment base value, and a guarantee of payments available periodically for a term without reduction of the payment base value; and a processor. The processor is configured to, for periods after a first withdrawal, determine the present payment base value by comparing a present account value to a prior period account value, a periodic increase in the payment base value being limited to a maximum percentage; and determine an available maximum withdrawal without reduction of the payment base value based on the withdrawal factor value and a greater of the present account value and the present payment base value.

US Patent:

8209197, Jun 26, 2012

Filed:

Nov 9, 2007

Appl. No.:

11/983547

Inventors:

Charles D. Tatro - Mendon MA, US
David P. Wiland - South Windsor CT, US

Assignee:

Hartford Fire Insurance Company - Hartford CT

International Classification:

G06Q 40/00

US Classification:

705 4

Abstract:

A computer implemented data processing system and method administers a deferred variable annuity contract during the accumulation phase for a relevant life. The annuity contract has a payment base value and a contract value. The system has a processor for determining a present payment base value, for determining a present contract value, for determining a withdrawal percent, and for calculating a lifetime benefit payment responsive to a request; wherein the maximum lifetime benefit payment withdrawal is Greater of ((Present Payment Base×Withdrawal Percent) or (Present Contract Value×Withdrawal Percent)).