Life Insurance Needs Analysis Calculator

The Life Insurance calculator is a needs-based approach to calculate the life insurance need if a spouse passes away unexpectedly.

To begin, go to the Calculators tab and from the Insurance Calculator section, click Life Insurance then click Add a Calculator.Life_Insurance_Needs_Analysis_Calculator__Image_1.jpg

Enter the name of the Life Insurance Calculator and click Add.

After naming your new Life Insurance Calculator, you will be ready to input the necessary data fields to finish the calculation. Start by choosing who the calculator applies to. Next, choose the existing life insurance policiescurrent value of investmentsspouse’s total future income, and liabilities that should be included in the calculation. The spouse’s total future income also has an inflation field. The field is auto-populated with the inflation rate from the client's Profile.


Similar to the other input fields, select the goals you want to include in the calculation. There are two additional fields for the goals - the inflation rate is auto-populated from the client's Profile, but it can be overwritten with a new value - the Fund Goal % is a field that enables you to enter a certain percentage of a goal that would need to be funded after one spouse passes away.  If a spouse passes away, the other spouse may no longer need 100% of the goal amount.

When all the fields are complete, click Calculate.


The calculator will show how much your client is under or over insured. You can download a PDF output summary of the calculation by clicking View Output


From the output, you can Download PDF to share with your client.Life_Insurance_Needs_Analysis_Calculator__Image_5.jpg

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