Is there a way to set desired life insurance levels? In our situation, if one spouse dies, the other would sell our vacation home so we we don't need the recommended insurance to keep it. We would plan for special expenditures until it sold.
Thanks.
Rich
Disclaimer: ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO, are educational calculators designed to give users input in mapping out financial futures, but should not be acted upon as a complete financial plan. The creators of these programs are not certified, registered, authorized, or any other type of financial planners. These programs are simply tools for helping you think through economic futures. Its "recommendations" should be viewed as informative inputs into your own decision-making with respect to saving and the purchase of life insurance. ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO provide neither economic, financial nor tax advice, which can only be delivered to you by authorized professionals.
RSS
The bad news is that now, you can't. The good news is that we're working on contingent housing support which will allow you to do exactly this. Basically our plan is to allow you to say, "If one of us dies, this is what we'll do with the houses" then run the reports and take a look at the survivor reports which will contain life insurance recommendations based on, among other things, the contingent housing plans.
Stay tuned, it should be in place before the end of the year, certainly, perhaps much earlier.
Best,
Dick Munroe