Richard F Ryan

US Patent:

7251623, Jul 31, 2007

Filed:

Jun 29, 2000

Appl. No.:

09/606495

Inventors:

Richard K Ryan - Carbondale KS, US
Brandt Thomas Brock - Auburn KS, US
Gregory J. Garvin - Topeka KS, US
Stéphane Goyer - Topeka KS, US
Brenda Marie Harwood - Topeka KS, US
Amy Jo Lee - Lawrence KS, US
Mary Elaine Nestor - Topeka KS, US
Karen S. Plush - Topeka KS, US
Kris Alan Robbins - Topeka KS, US

Assignee:

Security Benefit Life Insurance Company - Topeka KS

International Classification:

G06Q 40/00

US Classification:

705 35, 705 36

Abstract:

A financial security product and method for managing a financial security, such as a variable annuity, which enables financial service providers to deduct the fees, costs and expenses associated with managing the financial security product. In a preferred embodiment, the method enables financial service providers to provide optional benefits to investors of a financial security without the need for maintaining separate unit prices for each potential combination of optional benefits. The method comprises periodically declaring a dividend with respect to the financial security and deducting at least a portion of the fees associated with managing the financial security from the declared dividend. The amount of the fees can vary depending upon the number of optional benefits, if any, selected to be provided with the financial security by the investor. In a preferred embodiment, any remaining dividend after the fees have been deducted is reinvested into the financial security.