This video will walk you through the basics of setting up a what-if scenario to test how an earlier mortality event would affect a client's plan in Voyant.
Transcript
In today’s training, I’ll be showing you how to create a What-If scenario where you model an early mortality event for a client to see how it will affect their overall plan.
From your dashboard, go to the What If button. At the bottom, you’ll see the option for Change Life Expectancy. This will create a copy of your base plan where you can adjust the client’s life expectancy.
Currently, we have this client with mortality events at age 92 and age 90. I’m going to take Ryan’s mortality event and model him passing away at age 65. I’ll click through and confirm that change, keeping Ryan’s mortality event at age 65 while leaving Linda’s in place at age 90.
We’ll keep this plan so that we can review the impact. As you can see, with an early mortality event, there is more shortfall in the plan starting at Linda’s age 73.
This creates a good opportunity to have a conversation with your client about options that could help mitigate this risk should an unplanned mortality event occur.
I hope this was helpful. Please don’t hesitate to reach out to us by clicking on the name of your client and selecting Request Support. Enter your message in the text box, share client access, and we’ll be able to review the plan and provide assistance with any questions you may have.