Financial Services Industry
Industry: Email Alert RSS FeedReversionary annuity approved for patent.(US Patent Office's approval of patent for Allianz Life Insurance Company of North America's Family Income Legacy annuity)
National Underwriter Life & Health-Financial Services Edition, January, 1998 by Koco, Linda
US Patent Office has approved the patent for Allianz Life Insurance Company of North America's Family Income Legacy annuity. The reversionary annuity requires a named insured, a beneficiary and a monthly premium like the basic life insurance and offers the beneficiary a guaranteed monthly income. The reversionary annuity policy offers an income benefit on a monthly basis that takes into account the current interest rate.
Family Income Legacy, a "reversionary annuity" underwritten by Allianz Life of North America, Minneapolis, has been approved for patenting by the United States Patent Office.
To be issued this spring, the patent will run for 20 years from date of original filing (5/24/95), says Dean Potter, executive vice president of Century Management Co.,...
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