This will guide you through the process of adding a spreadsheet to a Life Design Analysis (LDA) case in order to present complex insurance products such as, but not limited to, over-funded universal life & PAR whole life.
Create a new Case
- Click on "Add New Case."
- Create a new client or select an existing client from your LDA account.
Importing a Spreadsheet
- On the design case page, select either the universal life or whole life icon.
- Choose the carrier you want to use, such as Canada Life.
- Indicate that you'll be importing information via a spreadsheet.
- Use your carrier's illustration software to generate the desired plan details.
- Instead of viewing the report, choose the option to view the data or spreadsheet.
- Export the spreadsheet (for Canada Life, use the "View Data" option) to Excel.
Editing Plan Names
- After importing the spreadsheet, use the "Edit Plan" icon to customize the plan name and add a description. This helps you tailor the presentation to your specific product or concept.
Generating the Report
- Select the plans and products you want to include in the case.
- Click "Generate Report" to compile the data and assumptions into a report.
Report Contents
The generated report includes the following sections:
- Premium Schedule
- Cumulative Cost
- Cash Value vs. Cumulative Cost
- Guaranteed Values
- Reduced Dividend Options
- Insurance Benefit
- Term Rider Coverage (if applicable)
Adding Callout Notes:
- To avoid client confusion, add callout notes to the report. Click on a data point or graph line to open a text box, and enter a custom note. For example, you can specify when a term rider ends.
Toggle Callouts:
- Use the "Toggle Callouts" feature to hide or reveal callout notes on the report, giving you flexibility in presenting information to clients.
Data Tables:
- The report also includes data tables, providing various data points based on the imported spreadsheet. The content of these tables depends on the page options you select or the report concept chosen.