Category: Truth Tips

Truth Tip on Borrowing Calculator

On the Borrowing Calculator, just left of the first loan, there is a blank white space where you can place your mouse and it will switch to a hand.  If you click on this, you’ll see the IRR on the entire deal you are looking at on that calculator.

Read More

Life Expectancy

The Life Expectancy tables in the Truth Concepts Calulators “Tools” section show the AVERAGE number of years a particular person will live.  You can choose the age, male/female, standard/preferred, smoker/non-smoker and joint/single.  Then remember that the number of years you see in the L.E. column is an average.  For example, when a 35 year old male, preferred, non-smoker turns 65, there are 20.78 years of his life remaining on average.  This means 50% of the people will live longer than 20.78 years and 50% of the people will live less

Read More

Truth Tip, All Calculators

When in Financial Calculators, Double Click on the word of the second calculator you want and it will come up.   For example, if you have the Rate Calculator up and now you want Future Value, just click on “Future” inside of the Rate Caclulator and you’ll get the Future Value Calculator.

Read More

Truth Tip, Additional Income Definition

Additional Income Definition:  “Net after taxes but before qualified plan deduction”.  For example, if someone is earning $150,000 they have $30,000 of mortgage interest deductions and $10,000 of charitable deductions, then Additional Income is $110,000 for the Qualified Plan Calculator and if they are putting $15,000 into their QP, then Additional Income is $95,000 for Accumulation and Distribution Calculator.  Another way to put this is “gross taxable income minus deductions plus qualified plan contribution”.  For example: $150,000 of gross income minus $30,000 of deductions plus $16,500 of qualified plan contribution

Read More

Truth Tip, Screen Space

Want to increase your productivity by 30%? Purchase a second monitor so you can use two screens with your computer.  You’ll want to have a video card for a lap top or a USB to VGA adapter…then select properties and “extend windows” onto that second screen so you can run your illustration software on one screen and the Truth Concepts calculator on the other.  Two screens make presentations more effective, save delays on jumping between applications which add up to alot of time when you repeat them multiple times per day.  With

Read More

Truth Tip, Life Insurance Values Tool

When importing the values from the tool to the Internal ROR calculator, take note that the IRR calculator AUTOMATICALLY adjusts the number of years for the illustration period.  This is because the values in the IRR calculator are all beginning of year and the values on the illustration are all end of year. For example, you’ll see in your Life Insurance Values a table running 30 years, but it will show up as only 29 years under the IRR calculator.

Read More