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Insurance Needs Analysis

The Insurance Needs Analysis tab allows you to assess the insurance need for various different types of insurance.

You can add a new insurance analysis by clicking on "Create new insurance analysis", edit an existing insurance analysis by clicking on the insurance name or delete an insurance analysis by clicking on the X icon. 

Adding a new insurance analysis

To add a new insurance analysis click on the "Create new insurance analysis" and a range of options will be shown. In this example we will add a Life Insurance analysis.


1. Entering the Immediate Cash Needs

Firstly you can setup any immediate cash need for the client, for example, funeral expenses. You are able to build any number of needs and can add more by clicking on the "Add more" button as shown by the red arrow above. You can also delete a row by click on the 




2. Establishing the Replacement Income

You are able to calculate a replacement income requirement and how many years to supply this for. In the example a defensive risk profile is used to invests the money. This section will calculate a lump sum income requirement to supply income for the required number of year when invested at a defensive (low risk) profile. 


3. Debt Repayment

The debt repayment section shows you any debt that has been enter previously in the Liabilities section of resources. You can choose whether you want to "Pay this debt off" OR "Keep this debt" shown by the red arrow below.

You can also enter customised debt repayment at this stage and add more fields if necessary by clicking on the "Add more" button.

4. Enter any Surplus Assets that can be sold.

A list of assets is then shown from the Other Assets section of resource. These other asset, if surplus to requirements following death, can be sold to fund any needs. Each assets can either be sold by selecting "Sell this asset" OR kept by selecting "Keep this asset" as indicated by the red arrow below. You are also enter customised assets if necessary and add more fields if need by clicking on the "Add more" button.


When you have finished entering if the Life Insurance Needs you can click on "Save" to go back to the list OR click on "Cancel" to exit this screen without saving.





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