How to handle Life insurances
We have two policiies. My wife's policy is a fully funded whole life policy worth $200K; she contributes nothing to it and it will pay to the estate when she dies. If I show this as life insurance, do I show it as a cash value of $200k?
My life insurance is a bit different. My former employer fully funded a life insurance policy for me worth $700K upon my death. Should I put this in the "special" folder and show a future value and then the expected year of my death?