1. A process for proposing terms for a life insurance policy in which a first entity and a second entity own undivided interests, comprising: receiving input information relating to at least some of the following input parameters, for one of the entities: age of the entity; gender of the entity; tax rate of the entity; death benefit desired for the entity; initial equity share owned by the entity; terminal equity share owned by the entity; equity transfer schedule; and equity transfer period; supplying said input information to a computer processor which is programmed to calculate terms for said life insurance policy; processing said input information, including calculating at least some of the following output parameters: equity interest of the entity in said policy; interest of the entity in a death benefit of said policy; interest of the entity in a cash value of said policy; premiums due from the entity; and estimated tax consequences for the entity; reporting, for each entity, for any of a plurality of years in which said life insurance policy is planned to be in force, output information corresponding to said output parameters.