Plan Settings: Other Insurance

This page covers the following location(s) in NaviPlan:

Settings menu — Plan Settings — Other Insurance

Procedures :: Related Information

Planning Objectives

ClosedWhat is the difference between the Goal and Expense Analysis and the Income Coverage Analysis method?
  • The Goal and Expense Analysis method analyzes the amount of insurance needed to maintain the standard of living during disability. NaviPlan calculates an insurance recommendation that accounts for the goals and expenses defined in the plan. The parameters of the goal and expense analysis can be changed to cover the survivor’s needs.
  • The Income Coverage Analysis method analyzes the survivor’s income, the lost income due to disability, and any lump-sum needs or expenses that would occur as a result of the client’s death. NaviPlan calculates a recommended amount of insurance to replace the lost income and to cover any additional lump-sum needs that are defined.

Procedures

ClosedHow do I enter a default disability need amount?
  • From the Plan Settings - Other Insurance tab, enter in the % of need based on the analysis method chosen.
ClosedHow do I adjust the frequency at which Long Term Care expenses and benefits occur?
  • From the Plan Settings - Other Insurance tab, click the Frequency menu to choose between daily, weekly, or monthly frequencies.

Related Information




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