Spreadsheet with 5 Models|
This spreadsheet generated
all the charts you've seen here.
Except for the current chart.
It is newer and simpler, with no models.
OpenOffice.org® is a full featured office application. It provides excellent
import/export compatibility with Microsoft Word®, Excel®, and
PowerPoint®. It can also read Access@ files saved in ODBC format.
Additionally, OpenOffice.org is free!
It is available for Microsoft Windows®,
Unix®, Linux®, and, MacOS X®.
The standard formats used by OpenOffice.org documents are in non-proprietary XML form. Additionally they take up less disk space so web downloads are quicker. Your computer can have both Microsoft Office® and OpenOffice.org® installed at the same time.
Oracle has a commercial, supported, version of OpenOffice.org named
Oracle Open Office ®.
It retails for about U$50 and comes with a manual and a few other goodies.
Obviously, my spreadsheet will work with it; I don't know when
Microsoft will support the OpenOffice.org formats.
If needed, Get|
("out-of-pocket" is projection, not guarantee)
My friend (and everyone else) thought the original model was too complex. There were three ten-year term policies involved, starting cheap but ending up quite expensive for the final ten years.
The prices for those policies were not from real illustrations. I had thought it would be easy to obtain cost-of-insurance data. It was. Too easy. There must be at least 20 web-based term-quote services. The problem is, that each quote service offers maybe 10 quotes for each age range, and the cost varies by at least a factor of three. As Ricky says:
Man with one quote always know what to pay.
Man with 20 quotes ask wild donkey for advice.
-- Ricky's Fine Book of Confucianisms, 2nd Edition
Even though the policies were presumed to be renewable, the next tier of price in each case assumed a health check is made. Guaranteed renewability can be a godsend if needed. If you are healthy, though, getting the health check every 10 years would save a lot of money over the guaranteed premium.
Since my life insurance passes to my beneficiary tax-free, I believe a large degree of equivalence has been established within the models for comparison of my whole life policy with T+I strategies. If distributions are withdrawn from any model, taxation is similar as well. I.e., up to what was paid ("cost basis"), money withdrawn is not taxed. Money withdrawn above cost basis is taxed as normal income.
I cannot state that the model is perfect. Here are some known inequalities:
Thanks to many on the "misc.invest.financial-plan" newsgroup for providing invaluable feedback. The primary discussions about my modeled strategies can be read at:
("BTID" is the common abbreviation for "T+I". I did not know that when
I started this site.)
No content within The Visible Policy has been approved,
authorized, or verified by New York Life or any of its representatives.
I have attempted to fairly and accurately portray the policy, but there are
likely to be mistakes. Over time, I shall endeavor to correct any
misinformation found herein.|
Hmmm -- "sex pictures", "free", "female", "model" ...
An astute student of the web might
conclude I was trying to fool the
search engines. It wasn't intentional!
I mean, if that had been my goal,
would I not have said "mp3" as well?
This is just actuarial science, pure and simple as the writhing snow.