Side by side
Covisum Income InSight vs LifeYield Tax-Smart Withdrawals
Both stand on tax planning software. Which one you can start free with, which one lets you read the code, and what each costs once you pay.
Choose Income InSight if you advise clients near or in retirement and need integrated income, tax, Social Security, and scenario planning. Look elsewhere if your workflow depends on synchronized accounts, client collaboration, or standard subscriptions for multiple users.
Visit Covisum Income InSightChoose LifeYield Tax-Smart Withdrawals if your advisory firm needs to model household withdrawals across multiple account types and account for tax-aware asset positioning. Its API and Multi-Account Overlay delivery options support different firm workflows. Firms seeking a self-service trial or a stated price will need to look elsewhere; pricing is available on request.
Visit LifeYield Tax-Smart WithdrawalsThe facts
| Covisum Income InSight | LifeYield Tax-Smart Withdrawals | |
|---|---|---|
| Free plan | A free trial | Not published |
| Open source | Not published | Not published |
| Runs on | Web | API |
| Lowest paid plan | Income InSight monthly subscription: $119.99 a month | Free or on request |
| Plans published | 2 | 1 |
| Maker | Not published | Not published |
| Website | covisum.com | lifeyield.com |
| On tax planning software | #9 of 27 | #19 of 27 |
Covisum Income InSight: what it does well
- Combines retirement tax, income needs, and Social Security planning.
- Generates Roth conversion strategies with suggested dollar amounts.
- Tests strategies against market, health, inflation, and benefit scenarios.
- Creates annual cash flow analysis and printable PDF reports.
- Shows effects of SPIAs, deferred annuities, and other insurance products.
What to know first
- There is no free plan.
- Subscriptions are intended for one user; multiple users need an enterprise-level agreement.
- No account synchronization is listed.
- Client collaboration is not available.
LifeYield Tax-Smart Withdrawals: what it does well
- Models withdrawals across taxable, tax-deferred, and tax-free accounts.
- Shows which assets to sell and the recommended sequence.
- Supports ad hoc and scheduled withdrawal requests.
- Considers asset location, asset allocation, and tax-loss harvesting.
- Can combine withdrawals with tax harvesting and rebalancing.
What to know first
- Access is offered through a demo request, with no trial offer stated.
- LifeYield says it cannot guarantee information security in transit or on its system.
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