Cash value of life insurance

I have a whole life insurance policy which has cash value.  Should I record this as an investment tracking account in YNAB?  I am not really wanting it to be on budget.  

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    • Scott
    • In the beginning the budget was created. This has made many people very angry and has widely been regarded as a bad move
    • Scottgoeshiking
    • 8 days ago
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    Yup, an unlinked tracking account would be the way to go.

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  • Or not at all. The only reason to include it is for it to be a part of your net worth graph.

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  • I am in Canada and not a financial life insurance expert so take this with a grain of salt but my understanding of the cash value is that it is really just prepaid premiums that have some minimal amount of return to them. So not really an investment per se. As such I would not see that having this value reflected in YNAB is of any value and will create more work to keep that value up to date (even as a tracking account). Sometimes the answer to the "how do I" question is "why would you do that?". 

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    • MXMOM And sometimes the question is: should I look into term life policies instead? I have heard nothing good about whole life insurance policies. There are significant pros to term life. It may not be the answer to all but something to consider as well.

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