A method of evaluating a permanent life insurance policy including the steps of accessing a policy illustration, establishing an effective life span of the policy illustration, identifying a first amount attributed to death benefit claims, identifying a second amount attributed to premium loads, identifying a third amount attributed to policy expenses, calculating a sum of the first, second and third amounts for a plurality of policy years, averaging the sum for each year throughout the effective life span, calculating a cash value of the policy illustration for the plurality of policy years, identifying a projected investment earnings forecast in the policy illustration, normalizing the projected investment earnings forecast, adding the project investment earnings to the cash value, and recalculating the current cash value of the policy illustration for the plurality of policy years.