Inputing Employer provided life insurance
I have input the face value of my employer-provided life insurance policy but the program is assuming I am paying for it (I'm not). What do I need to do to eliminate this expenditure?
I have input the face value of my employer-provided life insurance policy but the program is assuming I am paying for it (I'm not). What do I need to do to eliminate this expenditure?
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I have a similar situation in that I have insurance I pay for through employer and a separate policy. ESPlanner just shows what I need and takes it off the top. I think that's just the way it work. I just reconcile it with my consumption figure. That is, I remind myself that I actually have a little more consumption than it tells me because my insurance is not as expensive as it suggests. In the macro picture, it doesn't make that much difference. My current plan indicates that I drop from about 500k of insurance down to zero over the next eight years. The main thing is that I can see that and I can tell how much insurance I need to protect that particular plan. The fact that it's costing me an amount different from what is calculated and implicit in the consumption figure is just something I reconcile when I think about the consumption number. That is, I read the consumption number to be off by about 200.00/year because my insurance is not as expensive as it thinks. I suppose one could also reconcile this in special receipts/expenditures, but that seems like a hassle and unnecessary and then you'd have to change it every time you ran a new scenario because the amount of insurance you need is probably going to change a little bit with each new scenario.
--Dan