Life Insurance Premiums - No Allowance for Partial Employer Paid Premiums

My employer pays the premiums for the first $200k on life insurance and then I pay approx $2k/year for an additional $150k of insurance. However, if i input the total life insurance amount (the only amount allowed by ESP) then the program shows premiums almost twice what I actually pay because it doesn't reflect the employer paid portion. I can force ESP to show the actual premium I pay by inputting a lower insurance amount but then it doesn't show what my actual life insurance amount is. How about you guys add an extra field(s) to accommodate this?

Comments

dan royer's picture

The amount of insurance you report that you have in the Estate folder does not impact the amount recommended by the program. You can adjust this amount recommended by changing the survivor's living standard in the Estate area. That is, ask that the survivor have a -15% living standard will lower and/or eliminate the need for life insurance.

Otherwise, you can try to reconcile some of the costs by using special receipts to offset the expense, but that's tedious I admit.

This is a problem/issue I'm pushing for some resolution on.

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