life insurance

Life Insurance Recommendations

I've read all the posts in the various threads on life insurance. I'm with the users who remain totally confused by the software's recommendations. I've looked around esplanner.com without success. Until in ran into the life insurance recommendations the planner is giving me I did think I understood that a key concept is consumption smoothing.

If someone is interested, I'd like to pose a couple of scenarios and learn what the life insurance recommendations would be and why. And I'd like to learn how to get results that take into account my preferences about life insurance.

How to model whole life or universal life insurance?

I have a Universal Life Insurance policy. I think this may have been called whole life in the past. Basically my payment provides for a fixed amount life insurance policy while the remainder becomes a savings account with a stated minimal interest rate.

I can can in the policy at any time and obtain the savings account portion.

How do I model this in ESPlanner?

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