Add Cash Value Life Insurance

3Tjn94UwQ
3Tjn94UwQ Quicken Windows Subscription Member
in Investments

Please add the capability to include cash value life insurance (e.g., whole life, variable life, IUL, universal life, etc) as an investment asset. Many people own these types of policies and there isn't a good way to include this asset in Quicken.

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  • CFO2GO
    CFO2GO Quicken Mac Subscription Member

    I have used Other Asset type for years. Update manually cash value manually. The underlying assets aren't always same symbol as market securities. I do not track policy charges like cost of insurance. Gains and losses in CSV are booked as unrealized gains or loss - not as dividends for example. Death Benefit changes are in the note section.

  • ewoldde9
    ewoldde9 Member ✭✭✭

    I do this already by creating an account for each value as an Asset under the Net Worth section. Instead of being in the Investment section, this puts it where other assets might be found—such as Home Value (updated when I get a new appraisal from the county), the Home Mortgage. You can also create accounts for other assets to be included in the Net Worth, such as the value of art or collectibles, the value of your car, etc.

    Each year when I get an update for the cash value of a policy I simply update the balance for that account.

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