Minnesota Life Insurance Company, a Securian Financial Group affiliate, announced the availability of its Human Life Value Calculator iPad app for financial advisors and their clients. The app is designed to provide clients with their current economic value based on their expected lifetime earning capacity.
After inputting basic economic information—current income and debt, number of years to retirement, ongoing financial commitments, funding goals and current resources—advisors and/or clients can view the range of their economic value by displaying their basic needs on the low end of the spectrum and their Human Life Value on the high end. A slide bar enables them to choose an amount of desired insurance coverage between those numbers, and they can arrange to send the results to themselves and their advisors by e-mail.
“People often do not realize how big that number can be,” said Andrea Mack, director, Life Product Promotions. “Once they do, they think twice about their life insurance coverage.”
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