Inventors:
Jodi L. Kravitz - New York NY, US
John R. Meyer - Staten Island NY, US
Michael J. Gordon - New York NY, US
Assignee:
New York Life Insurance Company - New York NY
International Classification:
G06Q 40/08
Abstract:
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.