Each insurance company prints the same numbers under different names, and some lines that look right are a different number. This page matches each IBC Tool field to the words on the document, so you can check what IBC Tool filled in or type the values yourself.
Find your insurance company:
- Penn Mutual: the policy summary and the annual statement.
- Lafayette Life: the online portal and the annual statement.
Penn Mutual
Your numbers come from two Penn Mutual documents, and the two documents do not use the same words.
The policy summary is the page you print from the portal. It is a picture of the policy on one day, and it is the only document here that shows the Available Loan Amount. The annual statement is the picture at the end of a policy year. It has dividends, death benefit, and the loan at year end, and it has no Available Loan Amount.
Upload the document and IBC Tool fills in the fields. Use this page to check what it filled in, or to type the values yourself when you would rather copy them by hand.
Which document to use
- The policy summary when you want today’s values. Upload it on Record Snapshot. It is the only document with the Available Loan Amount.
- The annual statement when you want a past policy year on file. Upload it with Upload document on the policy page. It has no Available Loan Amount, so it does not update what you can borrow today.
The policy summary
The Policy Values page in the Penn Mutual portal does not show the Available Loan Amount. Print the policy summary first. That PDF is the one IBC Tool can read.
- Sign in to the Penn Mutual portal and open your policy.
- Select Print Summary at the top right.
- Save the page as a PDF. At the top, the policy summary shows VALUES AS OF and a date. That date is the date of every number on the page.
Upload it
On Record Snapshot, upload the PDF. IBC Tool fills in the values and uses the VALUES AS OF date as the Date. Check each value against the table below before you save. A line that looks familiar can still be the wrong number.
When you add a policy, upload the same PDF under How would you like to start? IBC Tool fills in Current values and uses the VALUES AS OF date for your first snapshot.
Type the values yourself
On Record Snapshot, select Enter manually. Set the Date to the VALUES AS OF date, then copy these lines.
| IBC Tool field | Line on the policy summary |
|---|---|
| Available Loan Amount | Loans section: Available Loan Amount |
| Loan Principal | Loans section: Loan Principal |
| Accrued Loan Interest | Loans section: Accrued Loan Interest |
| Cash Value, with Cash Value (pre-loan) selected | Cash Surrender Value section: Guaranteed Cash Value plus Paid Up Additions Cash Value |
| PUA Paid YTD | Enhanced Permanent Paid-Up Additions Rider section: Total Amount Paid During Current Policy Year |
A few nearby lines look like the right number and are not. Leave them alone.
- Loan Balance in the Death Benefit section is the principal plus the accrued interest. IBC Tool adds those two together for you. If you type Loan Balance into Loan Principal, the loan is counted twice.
- Loan Payoff in the Cash Surrender Value section is not the Loan Principal. Do not type it as the principal, and do not subtract it from the cash value yourself. Do not add a premium refund into the cash value either. IBC Tool expects the cash value before the loan.
- Net Cash Surrender Value can include a premium refund, and it already has the loan payoff taken out. It is not always “cash value minus the loan.” Use the two cash value lines in the table, added together, with Cash Value (pre-loan) selected.
The policy summary has no single line for Dividends This Year or Death Benefit. If you are typing the values, leave those two fields empty. An empty field means “this document does not say,” which is different from zero.
On the Add Policy screen
To type the values yourself while you add the policy, use the same lines in Current values. If you see Show all fields, select it. That is where Accrued Loan Interest, Cash Value, and PUA Paid YTD are hiding.
Add Policy has no date field. Values you type there are saved with today’s date. If the policy summary is from an earlier day, do not type the values here. Save the policy without current values, then enter them on Record Snapshot and set the Date to the VALUES AS OF date. Otherwise the app will treat an old reading as if it were today.
If the policy summary is more than 30 days old, save the policy, then record a snapshot from a new policy summary.
The annual statement
The statement covers one policy year. The title shows For Policy Period and two dates. The second date is the end of that year, and that is the date IBC Tool should store.
Upload it
Upload the statement PDF with Upload document on the policy page, then select Record values. IBC Tool fills in the fields. Check them against the table below before you save.
Type or correct a value
The fields show after the upload. Then:
- Set the Date to the second For Policy Period date, the end of the policy year.
- Copy these lines.
| IBC Tool field | Line on the statement |
|---|---|
| Cash Value, with Cash Value (pre-loan) selected | Page 2, Benefits and Values, Cash Value column: Total |
| Ending Loan Balance | Page 2, Loans section: Ending Loan Balance |
| Loan Interest Charged | Page 2, Loans section: Loan Interest |
| Dividend Amount | Page 2, Dividends section: the amount after Dividend of |
| Death Benefit | Page 2, Benefits and Values, Death Benefit column: Total |
| PUA Paid YTD | Page 1, Activity Summary for Period: Paid-Up Additions Rider Payments |
If you use the Net Total row for cash value instead, select Net Cash Surrender Value. That row already has the loan taken out, so IBC Tool adds the Ending Loan Balance back. Pick one row and the matching choice. Do not mix them.
Take the Ending Loan Balance, not the Beginning Loan Balance printed above it. The beginning balance is where the year started. The ending balance is the loan the statement is reporting.
Loan Interest Charged shows when the policy has a loan, or after you enter a loan balance. If you have no loan, you will not see it.
For the Death Benefit, use the Total row on page 2. Do not use Total Net Death Benefit on page 1. That figure already has the loan subtracted, and IBC Tool subtracts the loan itself when it needs a net number.
Enter the Paid-Up Additions Rider Payments line as it is printed. The line can include a deposit made on the anniversary, and that deposit belongs in the number. Do not subtract it. IBC Tool may then warn you about the annual limit. A statement period that includes two anniversary deposits can cause that warning even when each year was inside the limit. If your period does not include two anniversary deposits, check the line before you save. The warning is there so you can catch a misread, not because the deposit was wrong.
If you upload a statement on the Add Policy screen, IBC Tool shows the statement values in an Annual Statement Snapshot card. You do not type them again.
Lafayette Life
Your numbers come from two places: the Lafayette Life online portal and the annual statement.
The portal shows today’s values, and it is the only place here with the Available Loan Amount. The annual statement is the picture at the end of a policy year. It has the cash value, the loan, dividends, death benefit, and the paid-up additions you paid that year. It has no Available Loan Amount.
The Lafayette Life portal
Lafayette Life is part of Western & Southern Financial Group, so the portal is at myaccount.westernsouthern.com. Each policy has a View Details button, and the policy page has the tabs Details, Payments, Dividends, Loans, and Financial History.
The portal shows its values on screen, not as a summary to print, so type them yourself:
- Sign in to the portal and select View Details on the policy.
- In IBC Tool, open the policy, select Record Snapshot, then select Enter manually.
- Set the Date to the day you read the portal. The portal shows no “as of” date, and it says that transactions still being processed may not be included yet.
- Copy these lines, then save.
| IBC Tool field | Line in the portal |
|---|---|
| Available Loan Amount | Loans tab: Available Loan Amount |
| Loan Balance, with Loan Balance only selected | Loans tab: Outstanding Loan Balance |
| Cash Value, with Cash Value (pre-loan) selected | Details tab: Cash Value, plus Details tab: PUA Rider(s) Cash Value, plus Dividends tab: Paid-Up Additions Cash Value |
The portal shows one loan figure, and it does not split it into principal and accrued interest. Above the loan field, select Loan Balance only, then type Outstanding Loan Balance. The Accrued Loan Interest field goes away, because the balance already includes that interest. Enter 0 when the policy has no loan.
IBC Tool remembers that this figure can include interest that Lafayette Life has not yet added to the loan:
- If your balance is higher than your loan records, the gap can be interest, not a new loan. Check your loan records before you record anything.
- If no active loan is recorded on the policy, IBC Tool offers to record the loan with the balance filled in. Before you save, lower Amount Remaining to the principal you owe, and Loan Amount to what you borrowed. Your last annual statement shows the loan balance on the anniversary, after interest was added to the loan.
A few lines in the portal look like the right number and are not:
- Cash Value on the Details tab is only the base policy. Your paid-up additions have their own cash value on two more lines: PUA Rider(s) Cash Value on the Details tab for the additions your rider premiums bought, and Paid-Up Additions Cash Value on the Dividends tab for the additions your dividends bought. Add all three. If you leave one out, IBC Tool will show less cash value than the policy has.
- Paid-Up Additions on the Dividends tab, without the words Cash Value, is a different number. Use the line that says Cash Value.
- Surrender Value is what Lafayette Life would pay if you surrendered the policy, after the loan. Premium Refund is not cash value either. Do not add them in.
- Face Value is the base policy’s amount of insurance. It is not the death benefit IBC Tool asks for.
- Death Benefit Amount can already have the loan taken out. IBC Tool asks for the death benefit before the loan, so leave Death Benefit empty here. The annual statement reports it.
- Premium Amount on the Payments tab is your next bill. It is not the paid-up additions you paid this year.
- Current Dividend on the Dividends tab is the dividend on the base policy and the additions your dividends bought. It leaves out the dividend on the Level Premium Paid-Up Additions Rider, so it is not the whole dividend.
The Details, Payments, Loans, and Dividends tabs do not show the paid-up additions you paid this policy year. Leave PUA Paid YTD empty. Leave Dividends This Year empty too, because Current Dividend is not the whole dividend. The annual statement reports both numbers for each full policy year. Record them from the annual statement, not in today’s reading. An empty field means “this document does not say,” which is different from zero.
These lines come from a policy whose Dividend Option is Purchase Paid-Up Additions. If you cannot find all three cash value lines, leave Cash Value empty. The annual statement reports the full cash value at each policy anniversary.
If you add a policy, use the same lines in Current values. If you see Show all fields, select it to find Cash Value. Add Policy saves the values with today’s date, so type them there only on the day you read the portal.
The Lafayette Life annual statement
In the portal, select View Documents. Statements for each policy are listed by name and date. Open the one called “Annual Statement”, not “Billing Statement”. The title of the statement shows Statement of Account from and two dates. The second date is the end of the policy year, and that is the date IBC Tool should store.
Upload the statement PDF with Upload document on the policy page, then select Record values. IBC Tool fills in the fields. Check them against the table below before you save, and correct any value that does not match.
| IBC Tool field | Line on the statement |
|---|---|
| Date | The second date after Statement of Account from |
| Cash Value, with Cash Value (pre-loan) selected | Page 1, Your Policy Premium and Benefits, Cash Value column: Totals |
| Ending Loan Balance | Page 1, Policy Loan Information: Loan as of the second date |
| Loan Interest Charged | Page 1, Policy Loan Information: Interest Amount |
| Dividend Amount | Page 1, How Your Dividends Have Been Used: Your total dividend this year |
| Death Benefit | Page 1, Your Policy Premium and Benefits, Amount of Insurance column: Totals |
| PUA Paid YTD | Page 2, Policy Activity: LPUA Premiums Paid, included in above, in the Activity Since column that shows the first date |
A few lines on the statement look like the right number and are not:
- Policy Loan Information shows the loan twice. Take the line with the end date. The line with the start date is where the year started.
- Dividends Grand Total adds the dividends of earlier policy years, so it is larger than this year’s dividend. Use Your total dividend this year.
- Policy Activity has two columns. Activity Since Policy Date adds up every year since the policy started. Use the column that starts on the first date of the statement.
- Cumulative Rider Premium Paid in the Level Premium Paid-up Additions Rider section is also a total for every year. It is not this year’s number.
- The Totals row of the Cash Value column is before the loan, so select Cash Value (pre-loan). A footnote on the statement says how much of the cash value secures the loan. Do not subtract it yourself.
The LPUA Premiums Paid line is the premium you paid into the Level Premium Paid-Up Additions Rider. If your statement has no such line, leave PUA Paid YTD empty.
If you upload a statement on the Add Policy screen, IBC Tool shows the statement values in an Annual Statement Snapshot card. You do not type them again.
When a number is missing
- No Available Loan Amount. The annual statement does not show one, from either insurance company. Save the statement, then record a snapshot from the Penn Mutual policy summary or the Lafayette Life portal Loans tab. That snapshot is what tells IBC Tool what you can borrow today.
- No loan. When a form asks you to type the Loan Principal or the Ending Loan Balance, enter 0. A blank value will not save. On Add Policy, if the Annual Statement Snapshot card has no Loan Balance line, Create Policy saves 0.
- No accrued loan interest line. Leave Accrued Loan Interest empty. The Lafayette Life portal does not show one. There, select Loan Balance only instead. See The Lafayette Life portal.
- No paid-up additions paid this year. If the document says you paid none, enter 0 as PUA Paid YTD. If the document does not say, as in the Lafayette Life portal, leave it empty. An empty field means IBC Tool does not know the amount, so it will not treat the year as zero.
Other insurance companies
This page covers Penn Mutual and Lafayette Life. Pages for other insurance companies come next. The field list on Record a snapshot still tells you what each box is asking for, whichever company issued the policy.