You can use the Lump Sum Need Analyser in Simulations to determine the lump sum needed to ensure expenses are met to mortality. To use this simulation:
1. Go to the Let's See chart for the client in the relevant what if scenario and click on Simulations.
2. Select Needs Analyser in the first dropdown box.
3. Select the chart you wish to view the results in in the second dropdown box.
4. Select Lump Sum as the type of analysis.
5. Select the timing of the receipt of the lump sum, this may be the start of the plan if you want to know how much they need as a lump now to fulfil expenses until mortality. However, you can use an event in the future, depending on your client's situation.
6. Click Calculate Need, and a figure will appear.
Please note that this figure assumes that the lump sum will be deposited into the default cash account and will grow at whatever growth rate set on that account. If the lump sum would be invested or put in a savings account with a different growth rate, the lump sum required would be different. However, this simulation provides a useful starting point. Once you've run the simulation, you could set up a what if, showing the effect on the plan of investing this lump sum in an alternative cash account/investment.
More information on this simulation can be found in the article in the link below: