A process for generating a financial and liquidity estate plan for a client and a life insurance product for use therewith. The process includes determining the client' s assets and defining a plurality of asset categories based on type and purpose of asset. The process also includes categorizing the client' s assets in the defined categories. By performing liquidity analyzes of the categorized assets, the process determines current estate liquidity and projected future estate liquidity of the client. The process further includes generating a plan for re-allocating the client' s assets among the defined categories based on the liquidity analyzes. The product defined by the process is a pre-paid, variable life insurance product having a death benefit that varies daily as a function of gains and losses on the invested cash value of the product.