Life Insurance Policy Account Type

[BabyKyo]

Describe the feature

I’d like to propose adding a new Life Insurance Policy account type. Unlike traditional investment or savings accounts, life insurance policies often have a buyback (cash surrender) value that policyholders can access instead of the death benefit.

This feature would allow users to track their policy’s value over time, monitor potential buyback options, and integrate it seamlessly with their overall networth.

This would allow users to track policies with features similar to credit card accounts, including:

• Monthly premium payments to monitor recurring expenses.
• Time left until expiration, distinguishing between term and permanent policies.
• Buyback (cash surrender) value, offering insight into accessible funds before the death benefit.
• Borrowing against the policy, allowing users to view and manage loan options based on their policy’s cash value.

Why is this feature important?

Integrating this into would help users manage their policies alongside their other assets and liabilities for a more accurate view of their networth. Let me know your thoughts!

Additional context, screenshots, and relevant links

No response