I'm happy to announce we now support permanent LIFE INSURANCE in the MoneyReady App.
We cover Term to 100, Whole Life, and Universal Life. Any of these, plus regular term insurance can also be owned by a CCPC.
We also support collateral LOANS secured by the policies.

Projecting permanent life insurance values in time requires a lot of information, some of which is proprietary to the insurance company and not available. This limits the calculations we can do. However, your insurance advisor can provide you with an Illustration for any scenario you would like to model using their company's software. This includes the source of premiums paying for the policy, and taking policy loans or partial cash-value redemptions of the policy. Their software can handle all the parameters for these flexible and complicated policies to calculate the death benefit, cash value, and adjusted cost basis at any point in the future given their assumed rates of growth and other assumptions. I realise that life insurance Illustrations may be complicated so you may need to discuss them with your insurance advisor.

We have added the ability to upload into the MoneyReady App the information from such illustrations that it needs for the TIME MACHINE. It's a lot of numbers to enter, so we provide a template you can fill in Excel and then paste it in. Once entered, the TIME MACHINE will be able to determine changes in your cash flow, including any tax implications of including the life insurance policy into your financial plan. The TIME MACHINE is limited to that illustration you upload and will follow it to the penny. It will not change it in Simulations or the Optimizer. The best we can do is to stick to what your insurance advisor projects.

I leave you to read the updated eBook and Help pages for details. The LIFE INSURANCE chapter was rewritten from scratch.

Let me know if you have any questions or comments. If you have specific questions about entering your illustration data into the app, please contact me. I may ask you to send me your illustration.