Importing illustrations into Life Insurance Values properly is essential to getting the most from the Truth Concepts software. The importing process will look different from carrier to carrier. Some insurance carriers will export illustrations into a PDF, some will export into an Excel spreadsheet. No matter how the insurance company
Are you getting the most out of your Truth Concepts tools? Let’s take a tour of the tools, and how to use them to optimize the effectiveness of your illustrations. Income Tax Chart The income tax chart can be useful for several reasons. The first and most obvious use of
How do you calculate the remaining number of months on a loan? This Loan Analysis “hack” makes it simple to determine, all you need is the remaining loan balance, the rate, and the monthly payment. For example, let’s say your client had a remaining loan balance of $50,000 and they’re
When filling out social security income, there’s a “trick” to doing it correctly. First, you’ll go under the “earned income/ss” tab. If you’re including social security income for someone who has been taking the income, you should do the COL adjustment (if needed) manually. Let’s say you have a 70
Before you can use the suite of Truth Concepts calculators, you’ll want to make sure you’ve imported your life insurance data in the Life Insurance Values, under the “Tools” drop-down menu. With recent updates to both Truth Concepts and Lafayette Life, the process for importing life insurance data from this
The Accumulation calculator has always been particularly useful in depicting how the stock market can affect your assets, but now it’s even better. A few updates ago, Todd introduced a feature that can reverse or randomize the S&P rates, so that you can more effectively show “Monte Carlo” scenarios. If
When you’re analyzing a 401(k) in Asset Flow (the Tax-Advantaged section), you need to pay special attention to how you add the employer match. The results will differ depending on one factor: whether you entered the match as a percentage of the employee contribution, or as a dollar amount. If
Asset Flow is one of those awesome and mind-boggling calculators that truly does it all. That’s why we love to talk about what it can accomplish. One fantastic feature is that it plays well with our other calculators. It’s important to note, however, that there is a trick to saving
Did you know there’s a function in the Truth Concepts software that creates more fluidity if you’re using two screens? The power of two screens is amazing—we hope you’re taking advantage of the productivity boost. And if you’re anything like Todd, you’re even using three or more screens. Two screens
In the Tax Advantaged section of Asset Flow, the “IRA Account” button is used to keep IRA accounts for spouses separate. This is largely for tax purposes because the cost basis of all assets, for each spouse in an IRA, are considered in the cost basis determination. If there is