Supplemental Income for Retirement Plan using Indexed Universal Life

A new sales material, Supplemental Income for Retirement Plan Using Indexed Universal Life, can be accessed through iKCLife!

To find this brochure navigate to the Product Portfolio.  Once here select Universal Life and then Indexed.  The brochure is available in each section of our currently offered Indexed Universal Life plans.

After selecting one of the Indexed Universal Life products you'll see a Product Documentation section that houses all of the sales materials for that particular product.  Simply click on the Supplemental Income for Retirement Plan Using Indexed Universal life image to view this brochure.

If you are wanting to order this form from our supply department navigate to the Online Sales Material Catalog.  There are multiple ways to search for a form including category, keyword, product type, market segment, and form.  In the below image the form number for the Supplemental income for retirement plan using Indexed Universal Life, 12326, was entered in the form number box.  After clicking the 'Search' button the form was returned.  From here click on the clipboard icon which will open a page where you can enter how many copies of the form you need and where they should be mailed.

Illustration Development Team

illustrationhelp@kclife.com

1-800-572-2467 x8162

State Approvals Map Update

iKCLife gives you the ability to see which products and riders are approved in all of the states. We have recently made this even easier by updating the look and clarity of the State Approvals map. To take a look, complete the following steps:

Log in to www.ikclife.com.

Note: if you haven't created a username and password, you can login using your KCLIC credentials or navigate to www.ikclife.com and click on the icon highlighted below to create a login:

Once you have logged in, click on "Company Information" and then "State Approvals".

All you have to do now is select the state that you want to see.

For example, if you select Missouri the following would show:

This includes all products approved in Missouri and also which riders are approved for each product.

Illustration Development Team

illustrationhelp@kclife.com 

Application Packets

Did you know application packets are now available through the Forms and Applications wizard on iKCLife?!

To obtain the application packets navigate to the Forms and Applications wizard on iKCLife.  Don't forget you can sign into iKCLife using your kclic credentials!

Once here select the Issue State and the App Packets radio button.  The available packets will be listed below and can be opened by clicking on the link.  Once opened the packet can be printed or saved.

Please let us know if you have any questions!

Illustration Development Team
illustrationhelp@kclife.com
1-800-572-2467 x8162

Accelerated Death Benefit Riders for Variable Universal Life

Effective June 1, 2018, the accelerated death benefit riders for Variable Universal Life have been revised or replaced as detailed below. These changes affect the availability of the riders for both new issues and inforce contracts. A new Chronic Condition Benefit Rider is now available for new issues of Variable Universal Life contracts.

Terminal Illness Rider

• The Terminal Illness Rider, R215, and corresponding disclosure M626, are discontinued. Exception: During the year 2018, this rider (where available) may be added to an inforce contract with an issue date prior to 06/01/2018.
• A new Terminal Illness Rider, ICC18R246/R246, is available at issue or with a $25,000 increase for contracts with an issue date of 06/01/2018 and after.

Chronic Condition Benefit Rider

•  A new Chronic Condition Benefit Rider, ICC18R247/R247, is available at issue or with a $25,000 increase for contracts with an issue date of 06/01/2018 and after.
• If a contract is issued with the Chronic Condition Benefit Rider, the Terminal Illness Rider must also be issued.
• Use disclosure form ICC18M726/M726 for both the Chronic Condition Benefit and revised Terminal Illness riders.

Living Benefits Riders

• The Living Benefits Rider, R181, and corresponding disclosures M417 or M710, are discontinued. Exception: During the year 2018, this rider (where available) may be added to an inforce contract with an issue date prior to 06/01/2018.

Enhanced Living Benefits Rider

• The Enhanced Living Benefits Rider, R203/R223, is no longer available to be added to an inforce contract with an issue date prior to 06/01/2018. Exception: During the year 2018, this rider (where available) may be added to an inforce contract with a $25,000 increase.

     
Important Notes

• The availability of the discontinued riders during the transition period is still subject to state approvals.
• The new riders are not yet approved in California or Florida.
• California and Florida will continue to issue and illustrate the previous versions of the accelerated death benefit riders.

Please contact us if you have any questions on the riders, how they were implemented on the illustration system, or the transition period.

Have a Great Day,

Illustration Development Team

illustrationhelp@kclife.com

1-800-572-2457 x8162

2018 Transition Plan for Living Benefit Riders

Plan to contact your clients about the Kansas City Life Insurance Company enhanced living benefit riders, which can be added to certain existing policies during the transition period.  

To find out which of your policyholders are eligible, simply log onto iKCLife and select the Alerts tab.  There you will see a category titled Accelerated Death Benefit Riders Transition Period.  If any of your polices are eligible to add living benefits, an icon will appear.  Click on the icon and a list of the eligible policies will be downloaded to your computer for viewing.

The policy list will include all policies in which you are the servicing agent and there are currently no accelerated death benefit riders on the policy.  For each policy, the following information is included in the list: policy number, plan name, issue date, owner name, and whether each rider (CCB, ELB, LBR, and TIR) is available to be added to the policy.

In addition, Compliance-approved client letters are available for approaching those eligible policyholders.

To add a living benefit rider to a policy, complete the Kansas City Life Change Application (A169 or state variation) and the appropriate living benefits disclosure form.  All of these can be found in the Generic Form Picker on iKCLife.

Keep reading to learn more about Kansas City Life Insurance Company's transition plan which allows the following exceptions to further assist you in helping your policyowners gain valuable living benefit protection from their life insurance policies.

Adding to in-force policy exception

• During 2018, the revised LBR and TIR and the new CCB can be added to an in-force policy with an issue date between Jan. 1, 2017, and Jan. 21, 2018, where available.
• Agent must fill out the Change Form and the appropriate Disclosure Form.

Older version living benefit riders

• During 2018, the old LBR and TIR can be added to an in-force policy with an issue date prior to Jan. 22, 2018, where available.

ELB exception

• During 2018, the ELB can be added to an in-force UL policy with a $25,000 increase, where available.

Level Term exception

• During 2018, the TIR can be added to an in-force Level Term policy with an issue date prior to Jan. 22, 2018, were available.

Don't hesitate to contact us if you have any questions!

Have a Great Day,

Illustration Development Team

illustrationhelp@kclife.com

1-800-572-2467 x8162

Ability to Set Rider Defaults!

One of the requests we received at the 2018 General Agent's Meeting was to add the ability to set rider defaults on the illustration system.  We're excited to announce that it is now possible on all of our systems!  This is one more way you can customize illustrations to the way you sell and save time as a result.  Keep reading to learn where to set your rider defaults on the Quick Quoter, online Illustration System, and the desktop Illustration System.

Quick Quoter

Once you have navigated to the Quick Quoter, look for the "Riders" tab in the top center-left of the screen and click on this tab. 

Now you will see a list of all riders on products available within the Quick Quoter. If you would like to read more about a given rider, you can also click on the rider acronym or full name to show or hide a description. 

Simply check the box to the left of the riders you would like to be added for every illustration (if available for the product and state) and click the "Set Defaults" button at the bottom of the page to save your choices, as seen in the screenshot below.

Now return to the Quick Quoter and refresh the page to apply your defaults. From here on out, whenever you come to the Quick Quoter your defaults will be automatically applied. If you ever want to update your default riders again you can update these through the same process on the Riders tab.

Online Illustration System

Once you have navigated to the online Illustration System, find the wrench icon at the top center-right of the icon bar and select this icon. 

Now look for the "Rider Defaults" tab to the far right of the available tabs and click. Now you will see a list of all available riders. Simply check the box to the left of the riders you would like to be added for every illustration (if available for the product and state) and click the "OK" button at the bottom of the page to save your choices, as seen in the screenshot below.

Now, if you want to illustrate a quote with your new defaults, click on the "New Illustration" icon in the toolbar. From here on out, whenever you come to the Illustration System your defaults will be automatically applied. If you ever want to update your default riders again you can update these through the same process.

Desktop Illustration System

Once you have opened the desktop Illustration System, find the wrench icon at the top center-right of the toolbar and select this icon.

Now look for the "Rider Defaults" tab to the far right of the available tabs and click. Now you will see a list of all available riders. Simply check the box to the left of the riders you would like to be added for every illustration (if available for the product and state) and click the "OK" button at the bottom of the page to save your choices, as seen in the screenshot below.

Now, begin a new illustration to see your defaults applied. From here on out, whenever you come to the Illustration System your defaults will be automatically applied. If you ever want to update your default riders again you can update these through the same process.

Please contact us if you have any questions on setting up your rider defaults on the Quick Quoter, online Illustration System, or the desktop Illustration System.

Have a Great Day,

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

EquiFlex Now Available in the Quick Quoter

The Illustration Development Team is excited to announce that you are now able to illustrate both Indexed Universal Life products in the Quick Quoter with the recent addition of the EquiFlex!

Click here to check out the Quick Quoter, and start generating quotes for your clients right away!

As is the case with the Compass Elite, you are able to set premium allocation defaults for the EquiFlex.  Head right over to your preferences where these options are readily available.

You are also able to change the illustrated interest rates for both indexed accounts available for premium allocation, allowing for more flexibility when deciding the interest rate you would like to show your client.

In addition to releasing the EquiFlex, more updates have been made to the Quick Quoter!  You are now capable of adding an owner to an illustration.  In order to do so, you will select the Owner tab inside of the Client box and then fill out the necessary information.

As always, please contact us if you would like some help running any illustrations or need help getting started using the Quick Quoter.

Have a Great Day,

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com