Help with using IRR or XIRR calculations

[dspink]

Hi All,
I am fairly junior when it comes to using excel and formula's. I have tried to search through the forums but have not found any threads close to what I am asking. I am trying to calculate the Annual IRR of a life insurance policy based on the premiums deposited into the policy.
I have tried to use the IRR & XIRR function and get an error. I must be using them incorrectly. I have attached a copy of the spreadsheet I am working on and would appreciate any assistance you experts can provide.

thank you in advance for your help!

 

[Chihiro]

Can you calculate some values manually? and detail how you arrived at that number.

With your set up, you can't use IRR or XIRR.

Both functions require at least one positive value and one negative value.

Refer to links for detail on IRR and XIRR. With sample usage.
http://www.excelfunctions.net/Excel-Xirr-Function.html
http://www.excelfunctions.net/Excel-Irr-Function.html

 

[dspink]

Thank you for your reply, The death benefit would be money coming out of the policy so I have made it negative. Does this help?

 

[Chihiro]

No it would not. Basically XIRR/IRR calculates internal rate of return for investment and shouldn't be used for this type of calculation.

I'm not sure what you are trying to calculate here (hence, request to manually calculate few values).