All about the Insurance page

The Insurance page is used to enter new and edit existing Term Life, Permanent Life, Disability, and Critical Illness insurance policies. You can also complement this page by creating a simple Life Insurance Needs Analysis.

To access this page, select Scenario Setup -> Insurance for the Client or Spouse. There is a separate insurance page for Corporate-Owned Life Insurance.

To add a new insurance policy, click the button beside the desired type of insurance. Enter the details under each column, and the row will automatically save when complete.

Click Edit to enter the Death Benefit, CSV, and Annual Premium for Whole Life and Universal Life Insurance policies and to enter the Annual Benefit and Annual Premium for Disability Insurance Policies. You can even copy and paste details from an Excel version of the insurance quotation or illustration.

For detailed step-by-step guides on each type of insurance, please review the dedicated article:

• Term Life Insurance, including Term to 100 (Term-100) Insurance
• Permanent Life Insurance - Whole Life and Universal Life (UL)
• Disability Insurance
• Critical Illness Insurance

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• The Insured person will default to the Client or Spouse selected in the top-left corner of the page.
  • How to enter a jointly-owned life insurance policy? You'll notice that there currently isn't an option for joint policies. To enter a joint policy, select the individual who passes first or last based on the policy type and your projection assumptions. If the projection for both spouses ends in the same year, select either spouse as the Insured person. Note that the Insured person is assumed to pay the premiums in the projection. 
• If you select Other or Charity (if the Charitable Donations feature is enabled) as the only beneficiary (100%) for a Life Insurance policy, the Death Benefit will display $0 on the Planning page and in the Client Report. This is because the payment is flowing outside of this individual's projections.
• Actions column:
  • Add Notes: Click the paper page icon under the Actions column to add notes related to each policy. These notes are not included in the Client Report.
  • Copy a policy to the spouse:  Click the white arrow in the green circle.
  • Move a policy to the spouse: Click the white arrow in the blue circle.
  • Delete the policy: Click the trash can icon for that policy.

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