I have a Universal Life Insurance policy. I think this may have been called whole life in the past. Basically my payment provides for a fixed amount life insurance policy while the remainder becomes a savings account with a stated minimal interest rate.
I can can in the policy at any time and obtain the savings account portion.
How do I model this in ESPlanner?
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Hi, You simply compare the annual term insurance amounts and annual saving amounts in your actual policy (your agent can tell you these amounts) with the annual regular saving and term holdings ESPlanner recommends. ESPlanner doesn't care precisely what you are now saving and how much you are now planning to insure in the future. It's going to tell you what to do independent of your current plans and your current policy embeds your current plans wrt saving and insurance. best, Larry