How to enter a term life policy.

From the dashboard click the + sign in the bottom right corner, scroll down and select "Insurance". 


Enter in your policy details note that the benefit amount will pay out to the beneficiary if a mortality event occurs during the term in the example (20 years). Any premiums entered here will be counted as an expense in the plan. 


Once you have entered the policy details go to the "Beneficiaries" screen. 


In this example we are assigning 100% to the client's spouse. Note that you do have the option of either leaving it to a dependent, someone outside of the plan, charity or the Estate of the Insured. 

Tip: If you leave assign 100% to the estate of the insured and their is a spouse or dependent in the plan the software will first pay off any debts solely connected to the insured before passing the remaining money first to the spouse and second to any dependents upon the death of the surviving spouse. 


Once you have finished assigning beneficiaries click "Done" to save. This will take you back to the dashboard. From here you can test the policy to ensure that the software is utilizing it correctly. 

At the top of your screen click on "Legacy", from the drop down selection choose the scenario "If Chelsea dies today" and toggle on the details button in green. 



Here you will be able to see if the software is appropriately paying out the full amount and passing it to her spouse as directed. 

By toggling off the green details button you will be taken back to the flow that shows you who Chelsea's estate is passing to.