In general, permanent life insurance policies can be included in a portfolio by entering transactions as follows:

 

 

The Quantity for the initial purchase is the face value of the policy. Subsequent payments and dividend reinvestments have zero quantity, but add to the cost basis which is the same as the cash value.  Note that the Est. Taxes field is blank due to the Fed and Local Tax Factors having been set to zero in the Security Id record for the WLIFE symbol.

 

The Position record appears as follows for the policy:

 

 

The Position field is the policy face value.  Rather than entering a price, move the cursor to the Value field and enter the same number as in the Cost field. This is the Cash Value of the policy.  The Market Price is automatically back-calculated.

 

Term Life Insurance - Do not bother to track term insurance in your portfolio.  It provides pure insurance protection and has no savings or investment element.