Frequently Asked Questions
Need assistance with the Life Insurance Analysis? RightCapital is here to help! Please use the common questions and answers below to assist you in generating financial plans. For additional assistance, use the link to our support team at the bottom of the article.
A protection need is only generated if a surviving client is projected to run out of money before the end of their plan. The Cash Flow tables in the Details tab can help clarify exactly what is happening within each projection.
Keep in mind that reviewing and adjusting the Action Items is an important component in calculating a realistic protection need for each client.
The 'Goal Based' planning method is not recommended. The Life Insurance Analysis projections are heavily reliant on cash flow data. It is recommended to use either the 'Cash Flow Based' or 'Modified Cash Flow Based' planning methods if you wish to use the Life Insurance module.
Please note that when using a Goal Based planning method, you can still utilize the Human Life Value Calculator within the "..." More Menu, as this tool does not rely on cash flow information.
Some advisors will also add a Legacy Goal to a client's life insurance analysis, updating the protection need calculation to target a certain amount in ending assets.
New Action Items can be added to the Life Insurance Analysis by adding a new data entry card to the Profile section, or by adding a new Action Item to the Retirement Analysis section. To prevent these items from impacting your current or proposed retirement plans, you can leave these data cards set to $0 (or 0%) when adding them to the plan. You can then turn these items on within the Life Insurance module, using the Action Item slider bars.
