what is the best account type to place cash value life insurance under assets

MDERMAN
MDERMAN Quicken Windows Subscription Member ✭✭
in Download, Add/Update Accounts (Windows)
i have a cash value life insurance policy - just not sure how to catagorize it.

Thanks.

Answers

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭
    If it's a simple whole life policy or other sort of non-indexed policy where the cash component grows due to your premiums and interest I'd probably just set up a generic "asset" Account.  I'd probably use the generic asset Account for other cash value policies that contain an "investment" element, though I suppose an "investment" Account could also be used, though insurance isn't generally viewed as an investment in the conventional sense. 
  • MDERMAN
    MDERMAN Quicken Windows Subscription Member ✭✭
    It looks like Quicken just added "other investment" as an account option in the release I updated yesterday. I think I will use that. Thank you.

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