In this video, we walk through how an earlier than expected mortality event could affect your client's plan.
Transcript:
In this training, we'll demonstrate how to use a What-If Plan to model an early mortality event.
To begin, select What-If Scenario from the toolbar and choose Change Life Expectancy. This creates a new What-If Plan based on your client's existing plan.
For this example, we'll change the client's life expectancy so they pass away in Year 3 of the plan. Once you've selected the new life expectancy, click the arrow to confirm your changes, then choose Yes to keep the What-If Plan.
The new Change Life Expectancy scenario will now appear above your Base Plan. You can switch between the Base Plan and the What-If Plan at any time to compare the results and see how an earlier death affects the client's financial outcomes.
If you'd like to explore the details further, enable the Details view to see how the calculations flow through the plan. You can also review individual areas such as Assets, Expenses, and Debts to understand how they are impacted by the change in life expectancy.
This provides a simple way to compare the original plan with an alternative scenario and demonstrate the financial impact of an earlier mortality event.