Existing Auto Insurance policies can be added via the Net Worth section of the Profile (or the Net Worth step of the initial data entry process), by selecting Add Account > Insurance > Auto:
Auto Insurance Data Entry
- The Policy name will default to Auto Insurance, but you can enter a custom name if you'd like. You will also want to choose the client, co-client, or joint as the Owner.
- Enter the dollar amount for the client's Annual premium, and then use the Premium inflation field to specify any annual increase on the premium amount.
- In addition to the annual premium, enter information about the Deductible, coverage limits for bodily injury per person (Bodily injury pp), bodily injury per accident (Bodily injury pa), and Property damage.
- Check the boxes to indicate if the policy includes Comprehensive coverage or Collision coverage.
- Specify the end date of the policy using the Policy ends field.
Additional Information
For auto policies, only the annual premium will have an impact on the Retirement Analysis and Cash Flow projections. The remaining details will feed into the Insurance module, and can be analyzed within the Property and Casualty area.
