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Net Worth and Cash Value of Life Insurance

 

Tod Cox
(@priority)
Active Member Customer
Joined: 1 month ago
Posts: 7
Topic starter  

After adding entries for a whole life policy, I searched through the various reports to understand how PRC Gold handled it. I know modeling the future values and/or the death benefit of cash value life insurance is hazardous at best from my own machinations, but I was able to get reasonable future projections that resembled the policy projections from PRC using the available parameters on the Expenses ==> Cash Value Life Ins sheet. I did not enter any withdrawal of the cash value.

Poking around the various reports, it appears that the Cash Value of Life Insurance is excluded from Net Worth. The only place CVLI shows up on the Net Worth column of Tabular Projections ==> Summary is when the Death Benefit is modeled at the age entered for Life Expectancy of the insured person as listed on HOME.

Do I have this set up correctly or is the exclusion of Cash Value from Net Worth intentional? Or, am I completely misunderstanding something here?

Thanks!


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Stuart Matthews
(@smatthews51)
Member Admin
Joined: 10 months ago
Posts: 183
 

Todd,

Cash Value is always included in Net Worth, and I just tested it in v3.4 to verify. You'll need to send me an export file if you want me to verify whether you have this set up correctly.

Stuart


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Tod Cox
(@priority)
Active Member Customer
Joined: 1 month ago
Posts: 7
Topic starter  

Stuart,

Based on your reply, I went back in search of an entry mistake....and I found one.

I have just been rounding entries to the nearest thousands; turns out I had a mineral property that was the same value as the cash value of life insurance. This asset was incorrectly entered in the S2 property table. So, it was the value incorrectly "missing" when I was looking at the Tabular Projections ==> Summary sheet as all my analysis currently is on S1.

Is it possible to get CVLI to show on the Tabular Projections ==> Summary sheet?

Thanks!

Tod


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Stuart Matthews
(@smatthews51)
Member Admin
Joined: 10 months ago
Posts: 183
 

@priority Yes. Go to the Tabular Projections > View Mgmt page and scroll over to the Account Balances section. Then just check the box under Cash Value Life Insurance in the desired view. Note that you'll then need to change the top-level headers on that view because those do not change automatically when you add or delete columns.


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Tod Cox
(@priority)
Active Member Customer
Joined: 1 month ago
Posts: 7
Topic starter  

Stuartt,

The great support is much appreciated. Very happy with PRC Gold!

Tod


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