Many insurance plans promise to double your money. Here's how to calculate the actual return.

Life insurance guaranteed income plans offer policyholders a fixed stream of payouts, but understanding their actual returns requires accounting for the time value of money. To accurately measure returns, use the XIRR function in Excel, which calculates the annualized return by considering all premium payments and payouts on their exact dates-unlike IRR, which assumes regular intervals. This approach provides a true picture of your policy’s performance, helping you compare it with other investments and make informed financial decisions