Plan Settings: Survivor Income

This page covers the following location(s) in NaviPlan:

Cog menu — Plan Settings — Survivor Income

Planning Objectives :: Related Information

Planning Objectives

ClosedWhat is the purpose of this page?
  • On the Survivor Income tab, you can set defaults to be used for client files and new plans; changes on this tab will not affect existing plans.
  • Use this page to select the default analysis method for each type of insurance goal.
  • Under Quick Assessments, you can enter a default value to use for Final Expenses, as well whether to include clients' incomes and/or retirement benefits by default in the analysis.
ClosedWhat is the difference between the Quick Assessment, the Goal and Expense Analysis, and the Income Coverage Analysis methods?

  • The Quick Assessment calculates your clients' additional insurance needs on the basis of a simple comparison of their lump sum and ongoing needs to their assets available to offset those needs. This assessment is designed to quickly assess your clients' need and provide you with an accurate amount of additional life insurance they will require.

  • The Goal and Expense Analysis method analyzes the amount of insurance needed to maintain the survivor’s standard of living. NaviPlan calculates an insurance recommendation that accounts for the goals and expenses defined in the plan. The parameters of the goal and expense analysis can be changed to cover the survivor’s needs.

  • The Income Coverage Analysis method analyzes the survivor’s income, the lost income due to death, and any lump-sum needs or expenses that would occur as a result of the client’s death. NaviPlan calculates a recommended amount of insurance to replace the lost income and to cover any additional lump-sum needs that are defined.

Related Information




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