VeriPlan helps you to understand the lifetime costs of insurance premiums
Individuals and families are unpredictably vulnerable to disease, disability, and death. Other factors beyond your control can interfere with your ability to be employed fully or to be employed at all. Your assets can be damaged or destroyed. Legal actions and financial predators can drain your assets. Many, but not all, of these risks may be ameliorated through insurance.
Insurance can provide cost-effective risk pooling benefits. However, buying appropriate and economical insurance is not simple. There is no free lunch when you purchase life insurance, home insurance, long term care insurance, and other insurance contracts. You trade your assets and/or you make premium payments in exchange for the assurances of insurance companies. There is a very heavy and calculated emotional side to the insurance sales and marketing process. However, after you have put down your Kleenex, you need to pick up a sharp pencil and financial calculator, before you sign any insurance contract.Like investments, insurance products usually turn out better, when purchased rationally rather than emotionally.
As
a sophisticated financial lifecycle projector, VeriPlan can help you to
calibrate your potential exposures to some insurable risks. For example, the
projected income, expense budgeting, savings, and human capital data presented in
VeriPlan may help you to gauge the amount of life insurance coverage you may wish to
carry. Furthermore, you can input the cost of term life insurance or whole life insurance as an
incremental expense into VeriPlan and estimate the long-term impacts of
paying different levels of insurance premiums on your projected investment portfolio assets and investment returns.
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DISCLAIMER: This information is solely for your personal household finance purposes and is subject to the Terms of Use. It does not constitute financial, investment, or retirement planning advice. It is not a solicitation or offer to sell advisory services in any jurisdiction. You should seek professional advice, if you need help with budgeting, savings, investing, asset allocation, or asset management, including help in analyzing calculator returns, discounted cash flow, compound interest growth, return on investment, net present value, future values, net worth, or any other output of our calculators.