This page covers the following location(s) in NaviPlan:
Planning Objectives :: Procedures :: Screen Notes :: Related Information
Payment Type | Assumptions |
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Interest Only |
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Principal & Interest; Fixed Payment |
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Principal & Interest; Variable Payment |
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Set Principal Payment |
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Last Period Payment |
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Note: Depending on the payment type chosen, the following may not be applicable.
Note: Depending on the payment type chosen, the following may not be applicable.
Note: This option only applies to Interest Only or Last Period Payment liability payment types.
The Other Options tab displays the following fields:
Insured for Disability
- If selected, indicates the liability is to be paid off by an insurance policy should the liability’s owner become disabled. NaviPlan assumes the liability’s owner is permanently disabled at the beginning of the following year and the outstanding liability is paid in full. Selecting the check box excludes the liability from the disability analysis.
Note: Even though this option can be selected, the application does not automatically include the cost of the insurance covering the liability. To ensure the cash flow includes the cost of the insurance covering the liability, enter this expense on the Cash Flow page.Payoff Options at Death
- Transfer to survivor – Indicates that the unpaid balance of the liability will be transferred to the surviving client or co-client.
- Payoff at first death (from estate) – Indicates that the unpaid balance of the liability will be paid from the client’s estate.
- Insured for life – Indicates that the liability is to be paid off by an insurance policy if the liability’s owner dies before the liability is paid in full. Selecting this option results in the exclusion of the liability from the insurance analysis. This in effect forgives the loan. A liability that has this payoff option selected does not affect the estate’s cash flow.
Renegotiate
List of options for liabilities that can be entered as a renegotiated loan.
- Bring into cash flow – The liability proceeds enter into cash flow. The proceeds are reflected in the cash flow reports for the year in which the liability is established.
- Refinanced – The liability can be entered as a refinanced loan (consolidation of existing debts) whose proceeds are not entered into cash flow. A Loan Date after January 1 of the plan year must be entered for this option to be available.
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