Life Insurance Accounts

Note:The Life Insurance editor is only found in the Deluxe version of TRAK.

Life insurance assets that are whole life or universal life products can be entered here. These accounts are usable to illustrate both tax neutral and tax-wise scenarios.

Note:It is advisable to secure a copy of the policy from the life insurance company to know the duration and value of policies entered.


The prompts are discussed below.


Account Name

Enter the name associated with the account. This must be unique for the accounts.

Account Owner

Enter the owner of the account (either client or spouse).

Active in Calculations

Check this box to illustrate the life insurance asset(s) entered.  The assets can be quickly activated or deactivated with the check box.  If checked the account will be included in the retirement income projections.

Import Policy From File...

To import a policy from a file such as a spreadsheet, click this button to locate and select the file.  For a sample policy import spreadsheet, review the file "Sample Life Insurance Import" in Documents\Trust Builders\Sample Import Data.



Enter the initial policy setup values as described below.

Policy Start

Select either "Owner's Age" or "Date".  

Age or Date

Enter either the age of policy owner or the date.

Annual Premium

Enter the annual policy premium.

Warning:If a policy has been imported, premium changes will not change surrender and death benefit values.

Premium Payment Years

Enter how many years the entered premium will be paid.

Lifetime Distributions

Annual Distribution

Enter the annual distribution amount.

Policy Year to Start Distributions

Enter the year the policy will begin payouts.

Payments Per Year

Enter how many payments per year the policy will payout.

Survivor Options

Surrender Value

Enter the surrender value of the policy for the survivor.

Death Benefit

Enter the death benefit.

Policy Illustration

Customize Grid Values

To change the policy values in the grid, check this box and edit the values.



The options are:

Guaranteed: Select this option if the policy is a guaranteed type of policy.  

Non-Guaranteed: Select this option if the policy is a non-guaranteed type of policy.

Carry Changes Down Column: Grid edits will carry down the column.

As values are entered, the calculations will be illustrated in the Quick Calculations section.