Sample APS
MEET JACK & JACKIE
Age 20 with a $100K Mortgage
Mortgage Amount |
100000 |
|
Years already paid |
0 |
|
Term of the Mortgage |
30 |
|
Mortgage Interest Rate |
3.25% |
|
Monthly Mortgage Payment |
$435.21 |
SUMMARY
Monthly Mortgage Payment |
$435.21 |
Monthly Mortgage Payment Times 12 months |
$5222.48 |
Year Plan Value Exceeds Mortgage |
23 |
Number of Mortgage Mortgage Payments Avoided |
7 |
Total Amount of Money Not Being Paid To A Lender |
$36,557 |
COST ANALYSIS
Extra Dollars Paid In |
$37,858 |
Total Amount of Money Not Being Paid To A Lender |
$36,557 |
Extra $ Available to Retire Debt |
$34,676 |
Cost of 20 Year Term Life Insurance |
$5,580 |
Total Value Of All Benefits |
$76,813 |
Percentage Paid in per Dollar of Benefit |
49.29% |
| Year | $ Paid In | $ Value | Mortgage Schedule | % Paid of Mortgage | $ for 20-year Level Term Ins |
| 1 | 1646 | 1436 | 97,997.88 | 1.47% | 279 |
| 2 | 3292 | 3032 | 95,929.70 | 3.16% | 558 |
| 3 | 4938 | 4040 | 93,793.31 | 4.31% | 837 |
| 4 | 6584 | 5086 | 91,586.43 | 5.55% | 1116 |
| 5 | 8230 | 6172 | 89,306.76 | 6.91% | 1395 |
| 6 | 9876 | 7296 | 86,951.88 | 8.39% | 1674 |
| 7 | 11522 | 8458 | 84,519.32 | 10.01% | 1953 |
| 8 | 13168 | 9658 | 82,006.51 | 11.78% | 2232 |
| 9 | 14814 | 10908 | 79,410.80 | 13.74% | 2511 |
| 10 | 16460 | 12212 | 76,729.47 | 15.92% | 2790 |
| 11 | 18106 | 13574 | 73,959.69 | 18.35% | 3069 |
| 12 | 19752 | 14992 | 71,098.53 | 21.09% | 3348 |
| 13 | 21398 | 16470 | 68,142.99 | 24.17% | 3627 |
| 14 | 23044 | 18004 | 65,089.95 | 27.66% | 3906 |
| 15 | 24690 | 19596 | 61,936.20 | 31.64% | 4185 |
| 16 | 26336 | 21248 | 58,678.41 | 36.21% | 4464 |
| 17 | 27982 | 22956 | 55,313.14 | 41.50% | 4743 |
| 18 | 29628 | 24722 | 51,836.87 | 47.69% | 5022 |
| 19 | 31274 | 26544 | 48,245.91 | 55.02% | 5301 |
| 20 | 32920 | 28426 | 44,536.50 | 63.83% | 5580 |
| 21 | 34566 | 30450 | 40,704.71 | 74.81% | 0 |
| 22 | 36212 | 32534 | 36,746.53 | 88.54% | 0 |
| 23 | 37858 | 34676 | 32,657.76 | 106.18% | 0 |
| 24 | 39504 | 36876 | 28,434.12 | 129.69% | 0 |
| 25 | 41150 | 39128 | 24,071.14 | 162.55% | 0 |
| 26 | 42796 | 41436 | 19,564.24 | 211.79% | 0 |
| 27 | 44442 | 43800 | 14,908.66 | 293.79% | 0 |
| 28 | 46088 | 46224 | 10,099.50 | 457.69% | 0 |
| 29 | 47734 | 48728 | 5,131.69 | 949.55% | 0 |
| 30 | 49380 | 51312 | (0.00) | 0 |
The product being offered in this scenario is life insurance and the primary intention of this product is to provide a death benefit. Scenario uses the guaranteed rate.
Please consult your legal, tax advisor of any legal or tax advice. My Money Strategies does not make any claims as the data entered into these worksheets are done by each visitor.
This illustration does not reflect that dollars are paid and received at different times.