Lincoln National Life Insurance Assigned Patent
May 14, 2012 by N/A
Targeted News Service |
By Targeted News Service
ALEXANDRIA, Va., May 9 — Lincoln National Life Insurance, Fort Wayne, Ind., has been assigned a patent (8,175,940) developed by Anthony C. Laudato, Westfield, Mass., and Douglas K. Noble, Avon, Conn., for a “method and system for administering a variable universal life insurance product having a volatility reduction feature.”
The abstract of the patent published by the U.S. Patent and Trademark Office states: “A method and system of administering a financial product having a volatility reduction feature comprises providing a life insurance policy having a cash surrender value, creating at least one subaccount associated with the policy, storing a number of accumulation units associated with the subaccount, storing a plurality of accumulation unit values, calculating an average of stored accumulation unit values and using the average to determine a target unit value. The surrender value of the subaccount is periodically determined by multiplying the number of accumulation units by the target unit value. The surrender value of the subaccount is used to periodically determine the cash surrender value of the insurance policy.”
The patent application was filed on April 3, 2007 (11/695,742). The full-text of the patent can be found at http://patft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=8,175,940.PN.&OS=PN/8,175,940&RS=PN/8,175,940
Written by Shabnam Sheikh; edited by Jaya Anand.
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Copyright: |
(c) 2012 Targeted News Service |
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