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Insurance Kit is an invaluable tool for Insurance Professionals and Financial Planners.
1. Calculates Rate of Return of limited payment saving/ insurance/ investment plans.
2. Calculates Retirement Fund required
3. Calculates Life Insurance required
4. Calculates College Fund required and
5. Is also a Financial Calculator
Rate of Return
Using cash flow calculation, Insurance Kit works out the rate of return of limited payment plans e.g. plans that require 10 annual payments and mature on the 20th year.
A financial calculator can do the job too but it involves many steps. With Insurance Kit , all you need is to enter the following fields and the the rate of return will be generated instantaneously:
- Annual Payment/premium
- Number of payments (in years)
- Year of maturity or surrender
- Maturity/surrender value
Using Capital Liquidation method, Insurance Kit calculates Retirement fund needed. The app takes into account inflation and interest rate and the amount needed to finance a desired retirement lifestyle in today's dollar. It then calculates the amount required at retirement age. The calculation will be shown with a touch of a button.
Insurance Kit calculates the amount of life insurance required.
Insurance Kit calculates the projected cost of college education.
Insurance Kit is also a financial calculator that allows you to calculate anyone of the following fields:
- Present Value (PV)
- Period (N)
- Payment ( PMT)
- Interest Rate (I)
- Future Value (FV)
What's New in Version 1.10
Fix error in retirement email's text