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Insurance Calculation Option

Submitted by pharri1244@aol.com on 9 April 2009 - 9:30am

If I understand the current insurance calculation correctly, it ignores existing free/pre-paid insurance resources (e.g. free employer-supplied insurance) in calculating premiums. This can result in a significant overestimate of insurance expense. An improvement would be to allow the user to choose an "incremental" insurance calculation, above whatever existing free insurance level the user specifies.

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Submitted by Dan Royer on 9 April 2009 - 11:55am.
1

Interesting notion.

I'll put it on the list for discussion.

Best,

Dick Munroe

Submitted by bill_sloat@hotm... on 15 April 2009 - 2:41pm.
2

I would second the request to be able to zero out premiums- but keep the required amount calculation.

I have 30 year term insurance coverage of more than 150% of the required amount with a premium well under the rates calculated by the program. I have added special receipts to cancel out the program's premiums but every time I change something, the insurance requirement and premiums change so I have to redo the special receipts through multiple iterations until reaching a new equilibrium.

Thanks for the consideration,

Bill

Submitted by fletchlt@verizon.net on 19 April 2009 - 7:57pm.
3

Agree this would be a worthwhile upgrade.

Submitted by turkgw on 29 August 2009 - 9:19pm.
4

As a new ESPlanner user I find myself facing this same issue. I have a substantial free insurance policy from a previous retirement. It addresses over half of the recommended coverage and doesn't go to zero over time. This throws the expenditures off significantly. An option to corrrect these two aspects would be an excellent upgrade.

Thanks for developing a great tool and keep up the good work.

Turk

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