The protection need is the minimum death benefit required to ensure that the client ends their life with at least $1 left to their name. It's important to remember that the protection need is calculated based on the assumed plan variables (Action Items) for each projection. In order for the protection need to be a realistic estimate, it is essential to review and fine-tune the details of the projections using the action items.
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.
