Adding Your First Policy

Choose Whole Life, Term Life, or Convertible Term Life. Term policies go to a shorter term-details form and have no setup steps.

2. Policy Details

Select Upload policy for your contract or spec pages and review what was read, or select Enter manually. Upload is included on Builder Pro, and on Starter for its one policy.

Policy — carrier, policy number, optional nickname, insured, the insured's birthdate, issue date, and anniversary month and day. The birthdate also fills in the insured in Family Coverage, unless one is already there.

Death benefit — Total death benefit at issue and any Term rider, both from your original contract. Permanent death benefit is the difference, marked Computed.

Premium — payment frequency, base premium, and PUA per payment. The total scheduled premium is base + PUA — for example, $150 base + $350 PUA = $500. Premium paying years is the number of years premiums are due (a 10 Pay is 10); leave it blank if premiums are paid for life. The age calculator beside it works the number out from the age the policy is paid up.

Dividends and loans (optional) — dividend option, loan interest rate, and loan interest method. The carrier fills in the loan interest method; change it if your contract differs.

Beneficiaries (optional) — name as recorded, designation, and percentage.

Riders, policy owner, notes, and representative contact are optional.

Scheduled recording — choose whether each scheduled base premium and Planned PUA payment is added for you to confirm.

Select Save.

3. Policy Saved

• What you recorded — the saved policy, with Edit.
• Add the rest now or later — the policy's setup steps. See Adding Policies for what each step records and what counts as done.
• The First Policy badge, for your household's first policy.

Add another policy starts the next one with the carrier and insured carried over; Clear removes them. Go to policy opens the policy.

Common Questions

I cannot find my original contract.

Your carrier can provide an in-force illustration showing your current policy structure. Call the policyholder services line and ask for a "current illustration" or "in-force ledger."

My premium amounts have changed since the policy was issued.

Record the current amounts. Update them at any time from the policy workspace Overview.

I have more than one whole life policy.

Add each policy separately. Your dashboard combines all policies into your banking system totals. Starter includes one policy; Builder Pro has no limit.

The carrier I need is not in the list.

Select the closest match by parent company, or contact support to request your carrier be added.

See also: Adding Policies · Policy Structure in Overview · Understanding Policy Snapshots · Uploading Annual Statements

Policy Stack is a tracking and visualization tool. It does not provide financial advice, recommendations, or opinions on what you should do with your banking system.

Policy Stack is independent of and is not affiliated with, sponsored by, or endorsed by Infinite Banking Concepts, LLC or the Nelson Nash Institute.