The WFG Rate Calculator is designed to help you understand the potential growth of a WealthFirstGuard (WFG) investment plan. This type of plan often combines life insurance with an investment component, aiming to provide a death benefit while also growing cash value over time.
Key Components:
Coverage Amount: This is the death benefit your beneficiaries would receive. It's a crucial part of the WFG plan, ensuring financial protection.
Monthly Deposit: This represents the amount you contribute to the WFG plan on a monthly basis. Consistent contributions are vital for the plan's growth.
Assumed Annual Growth Rate (%): This is an estimation of how much your investment component is projected to grow each year. It's important to remember that investment returns are not guaranteed and can fluctuate. This figure is a tool for projection, not a promise.
Years to Maturity: This is the timeframe over which you plan to contribute and allow the investment to grow before it reaches its intended maturity.
How it Works:
The calculator estimates the future value of your WFG plan based on your inputs. It projects how your monthly deposits, compounded by the assumed annual growth rate over the specified number of years, could contribute to the overall value of the plan. While the primary function of a WFG plan is coverage, the investment aspect can provide an additional avenue for wealth accumulation.
Disclaimer: This calculator is for illustrative purposes only. Actual results may vary based on market performance, fees, policy charges, and other factors. It is recommended to consult with a qualified financial advisor to discuss your specific WFG plan and investment strategy.
function calculateWfgRate() {
var coverageAmount = parseFloat(document.getElementById("coverageAmount").value);
var monthlyDeposit = parseFloat(document.getElementById("monthlyDeposit").value);
var annualGrowthRate = parseFloat(document.getElementById("annualGrowthRate").value) / 100; // Convert percentage to decimal
var yearsToMaturity = parseInt(document.getElementById("yearsToMaturity").value);
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = ""; // Clear previous results
if (isNaN(coverageAmount) || isNaN(monthlyDeposit) || isNaN(annualGrowthRate) || isNaN(yearsToMaturity) ||
coverageAmount <= 0 || monthlyDeposit < 0 || annualGrowthRate < 0 || yearsToMaturity 0) {
futureValueInvested = monthlyDeposit * (((Math.pow(1 + monthlyRate, yearsToMaturity * 12)) – 1) / monthlyRate);
} else {
futureValueInvested = totalDeposits; // If growth rate is 0, it's just the sum of deposits
}
var totalProjectedValue = futureValueInvested; // For this simplified model, we assume invested value is the primary growth driver
resultDiv.innerHTML = "