What a needs analysis covers
Understand what a needs analysis uses, how it runs, and what ends up in the final report.
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Introduction
A needs analysis in DNA turns a client’s data into a clear recommendation on how much insurance they need. DNA reads the client’s profile and your notes, surfaces the risks that apply, sizes each one in dollars, and lays out what to do about them. You can change any figure, so the final report reflects your judgment, not just the numbers.
This page covers what goes into an analysis, how it is structured, and what comes out the other end. For the step-by-step walkthrough, see Running an analysis.
What goes into an analysis
When you start a new analysis, DNA takes a snapshot of the client file at that moment. Everything the analysis uses comes from that snapshot, so changes you make to the client file afterwards do not shift the numbers mid-report. If the profile does change, DNA tells you the analysis is out of date and lets you refresh it.
The snapshot pulls from:
- Client basics: date of birth, sex, location, earned income, passive income.
- Financials: every asset and debt on file, including values, types, growth rates, and payoff dates.
- Coverage: every existing policy you have recorded, including amounts, premiums, and types. Policies recorded as illustrations are not counted. Set their status to In Force if the client holds them.
- Beneficiaries: names, relationships, and roles.
- Notes: case-file notes on the client, for context.
You make one choice when you start: whether to include living benefits. Critical illness and disability income are always worked out. Turning the switch on shows them and has Helix plan for them.
How the analysis is structured
The analysis is one page, not a sequence of phases. It has three parts.
| Part | What it holds |
|---|---|
| Needs | DNA lists the risks it found, the additional needs, and the living benefits, each sized in dollars. Open any one to see where its number came from, and change it. |
| Solutions | Sets of policies that could cover the needs. Helix recommends one, and you can build others to compare. Each policy can carry an estimated monthly premium. |
| Report | A client-ready document drafted from the analysis. Edit it in place and download the PDF. |
You can move between these in any order and change a figure at any time. The report and the solutions follow the current figures, and DNA flags a solution or narrative that no longer matches them.
What comes out of the analysis
A completed analysis gives you the on-screen analysis page for your own review, and a PDF report you can share with the client.
The PDF report can include these pages:
- Title Page
- Table of Contents
- Client Overview: the purpose of the analysis, the client’s goals, and their concerns.
- Net Worth Statement: assets, debts, and net worth.
- Risk Overview: the risks that apply to the client.
- Risk Analysis: each risk with its sized amount and the reasoning.
- Next Steps: action items for the advisor and the client.
Your firm’s branding is applied to the report. See Reading the report for how to edit, reorder, and download it.
Limits on Starter
Starter accounts are not allowed to export the final Needs Analysis report. And due to the 3-client cap, you are limited in the number of times you can run a needs analysis.