April 16, 2025 - Release Notes - Life Insurance Needs Analysis Enhancements

We’ve made several updates to the Life Insurance Needs Analysis tool based on common user feedback, designed to make the tool more flexible, efficient, and reflective of real client situations.

These enhancements include:

• Support for spousal assets.
• Entering liabilities and resources on a combined basis.
• Creating and customizing liability categories at death.
• Quickly pulling key data from the scenario into your needs analysis.

Include Spousal Assets in Resources

Previously, only spousal debts could be included in the analysis. Now, you can also incorporate spousal assets for a more complete picture of household resources when calculating the insurance need.

Enter Liabilities and Resources on a Combined Basis

We’ve added an Advanced Option toggle to help tailor the level of detail:

• An Individual View gives you the option to specify individual Liabilities and Resources for each partner. This is the setting for existing Life Insurance Needs Analyses.

• A Combined View reduces inputs and allows you to consider the household’s overall Liabilities and Resources. This is the new default for all Life Insurance Needs Analyses going forward.

Additionally, the Children's Education Liability has been improved to include all children's post-secondary costs, regardless of which spouse owns the RESP.

Customizable Liabilities for Greater Flexibility

You can now add up to five Custom Liabilities to reflect your client’s real-world obligations more accurately.

• A common example is Final Expenses.
• You can add or remove liabilities as needed using the new + / – buttons. (up to 5)
• Custom liability fields are optional, so you can include only what’s relevant for each case.

These custom liabilities are now itemized on the Summary page and Client Report page, making it easier to communicate exactly what is included in the insurance calculation.

Import Scenario Data to Save Time

To reduce duplication and speed up your workflow, we’ve introduced the ability to import data directly from the scenario into your needs analysis. These quick-fill options help keep everything consistent and up to date.

You can now pull:

• The Analysis Horizon, based on years until retirement or the end of the projection.
• The Income Replacement Period, based on years until retirement or the end of the projection.
• The Insured Income, based on Employment Income and Corporate Salaries (if applicable), as captured on the Planning page.

These data points are pulled in with a single click, making it easier to align assumptions across your planning process.

These updates do not affect your existing Life Insurance Needs Analyses. The changes are fully backward-compatible and are designed to give you more control without adding complexity.

We’ll continue to make improvements to the tool based on your feedback. If you’d like a refresher or want to learn more about these new features, a full overview of the Life Insurance Needs Analysis is available here.

Let us know what you think — and keep the great ideas coming!