[GNC] Whole life insurance

[Fred Tydeman]

The yearly life insurance company statement only shows
  Increase in cash value
  Increase in death benefit
It is fully paid up, so no more premiums.

Since the cash value is a real asset that I can borrow, I am now thinking
the increase in cash value
should be done as Non-taxable income.

However, I still have no idea how to do the future death benefit.
It is not an asset of mine.  It might be an asset of my wife (if I die
first).
Or, it might be an asset of my son (if I die after my wife).

On Sat, Apr 23, 2022 at 10:40 AM Fred Tydeman <tydeman.fred at gmail.com>
wrote:

> Suggestions on how to record for whole life insurance:
>   Premiums paid
>   Increase in cash value
>   Future death benefit
>
>  I think some of that is like the Degas painting example in the Tutorial
> in that the increase in cash value is an Unrealized Gain.
>