Method and system for portable retirement investment

Abstract

A process and a system for providing a user with a plurality of periodic retirement income payments is disclosed. The process comprises the steps of receiving an input including two of a retirement date, a minimum retirement income amount and a defined premium payment amount for payment over a plurality of preset payment intervals. The process also includes the steps of calculating the other one of the retirement date, the minimum retirement income amount and the defined premium payment amount for an accumulation period defined by the retirement date and a current age of the user; receiving a premium payment amount from the user during the accumulation period; investing the received premium payment amount in an account in a manner consistent with one or more predefined objectives during the accumulation period to realize a retirement income amount. The process further includes the step of transmitting the retirement income amount to at least one of the user and a designated receiver at a designated time after the end of the accumulation period. The retirement income amount includes a predetermined guaranteed minimum retirement income if the received premium payments are received according to a preset premium payment schedule.

1 . A quoting process comprising the steps of:
 receiving as an input two of a retirement date, a minimum retirement income amount and a defined premium payment amount for payment at each of a plurality of preset payment intervals; and   calculating the other one of the retirement date, the minimum retirement income amount, and the defined premium payment amount, wherein the user receives the minimum retirement income amount when the user reaches the retirement date if the user pays the defined premium payment amount at each of the preset payment intervals.   
   
   
       2 . The quoting process of  claim 1  wherein a total of the preset payment intervals is based on a difference between the retirement date and a current age of the user. 
   
   
       3 . The quoting process of  claim 1  wherein each of the preset payment intervals is a month. 
   
   
       4 . The quoting process of  claim 1  wherein the step of calculating the other of the minimum retirement income amount and the defined premium payment amount is based on at least one of a table of mortality rates and a predetermined interest rate. 
   
   
       5 . The quoting process of  claim 1  further comprising the step of presenting the user with a signature-ready application for electronic transmittal. 
   
   
       6 . The quoting process of  claim 1  further comprising the step of presenting the user with an application including the received input and the calculated minimum retirement income amount or the calculated defined premium payment amount. 
   
   
       7 . A quoting system comprising:
 means for receiving as an input two of a retirement date, a minimum retirement income amount and a defined premium payment amount for payment at each of a plurality of preset payment intervals; and   means for calculating the other one of the retirement date, the minimum retirement income amount and the defined premium payment amount, wherein the user receives the guaranteed minimum retirement income when the user reaches the retirement date if the user pays the defined premium payment amount at each of the preset payment intervals.   
   
   
       8 . The quoting system of claim  29  wherein the means for calculating the other of the minimum retirement income amount and the premium payment amount is based on at least one of a mortality rate and a predetermined interest rate. 
   
   
       9 . The quoting system of claim  29  further comprising means for presenting the user with a signature-ready application for electronic transmittal. 
   
   
       10 . The quoting system of claim  29  further comprising means for presenting the user with an application including the received input and the calculated guaranteed minimum retirement income amount or the calculated premium payment amount.