How do I incorporate Cash Value Life Insurance into Elements scores?

Abby Morton
Abby Morton

For cash value life insurance they should add an insurance policy that will list the death benefit, then add an asset to the balance sheet with the balance of the cash value.

 

While there isn't an asset category for CV, just find the type of account that lines up the most closely to that (Brokerage or Traditional IRA). While Elements won't show the amount of time they could potentially live off the CV, they would be able to see the total liquidity or qualified retirement account picture.

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