New Training Videos Page

We now have a new Training Videos page on www.ikclife.com!!  You can find videos about iKCLife, the online illustration system, the online inforce system and the desktop illustration system.  If there are any training videos that you'd like to see, please let us know, and we'll do our best to post them.

To watch the training videos, log in to www.ikclife.com.  If you don't have a log in you can create one by clicking on the 'Create User' link.

 

 

Once you have logged in, click on 'Training' and then the 'Videos' tab.

 

 

This will take you to our Training Videos page.

 

To begin, choose one of the topics available or search a key word or phrase.

 

 

Next, choose the training video you would like to watch.

 

 

The video will now be loaded into the player.  Click on the play button to start the video.
 

 

 

Make sure to click on the expand button (as shown below) within the video player so that you can watch the video using your full screen.

 

 

We hope you find all of the videos helpful!  Please feel free to contact us if you have any questions.

 

The Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com 



Setting Up Conversion Illustrations

The Double Take Term Conversion Program is going on from Nov 1 through Dec 14, 2012!  With this special offer, Kansas City Life Insurance company will give your clients a double conversion credit if applicable when they convert their existing term policy to an eligible permanent life insurance policy.

Since it is Double Take Term Conversion time, I thought I would take some time today to highlight how a conversion illustration can be completed within the Illustration Software.

For example, let's say you have an existing client named "Bob".  Bob recently contacted you because he is interested in taking his existing Level 10 Term policy and converting it to a permanent policy.  After talking with Bob about his current life insurance needs, lets assume Bob has decided he's interested in seeing an illustration for a Life Protector Universal Life with the LPR premium.

Let's assume this is the information for Bob's Existing Level 10 Term:

Gender: Male

Birthday: 1/1/1980

Risk Class: Standard Non-Tobacco

Specified Amount: $200,000

Double Conversion Credit for $200,000: $100.00

We will use this information to set up the conversion illustration.

Here are a few simple steps you can take to prepare the conversion illustration:

1. The first thing you will want to do is find out what the conversion credit is for the existing policy.  You can access this information by contacting New Business at 1-800-572-2467 x8025 and asking for the policy's conversion credit.  Once you have determined that the policy is in fact convertible and you have obtained the conversion credit amount, the illustration can be created!

2. To create the illustration, open up the Illustration Software and select the product desired.  In this case, we will select the Life Protector for Bob.

3. Next we will input Bob's information, just like we would if we were completing a New Business Illustration.  A few things to remember:

• We want to use Bob's birthday to determine the appropriate age.  We don't want to use Bob's age when he originally purchased his Level 10.  Instead we want to use Bob's attained age. 

• We want to use the same risk class that was assigned to Bob for his Level 10. 

• If Bob has chosen to convert his entire specified amount, we want to find the conversion credit for that full amount and use that same amount in the illustration.

4.  Once you have input the client's information, you will then want to enter the conversion credit amount in the 1035 exchange box.  Once this is completed, to figure the LPR premium for this case including the conversion credit, click on the Premium Calculator and select "Advanced Premium Guarantee Calculator" in the dropdown.  As long as "Use Dump In" is checkmarked, this will take your conversion credit into account when determining the LPR premium.

It's as easy as that!  If you have any questions or would like us to assist you in setting up a conversion illustration, just give us a call!

 

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

Inforce Illustrating - Changing the Specified Amount on an Inforce Policy and Solving for a New Premium

Good Afternoon!

We often receive calls from Agents asking for assistance with changing the specified amount on an existing policy and solving for a new premium. 

We wanted to take this opportunity to share a new video with you that shows you in detail how this can be accomplished using the Inforce Illustration System on our website, www.ikclife.com.  The Inforce Illustration System allows you to make hypothetical changes to inforce policies assigned to your Agent number and view projections to see how the policy might perform if these changes were made.

Click to view the video below for a detailed walkthrough on to how this can be done. 

Make sure to click on the expand button (as shown below) within the video player below so that you can watch the video using your full screen.

Look for more new training videos coming soon to the iKCLife website!

For questions related to the Inforce Illustration System, please feel free to contact us.


The Illustration Development Team
1-800-572-2467 x8162

illustrationhelp@kclife.com

Forms and Applications Wizard

 

Unsure of what application and forms are required for a particular product?  The Forms and Applications Wizard is a great tool that can be used to provide you with everything you need.

 

To use the Forms and Applications Wizard, log in to www.ikclife.com.

Don't have a login?  No problem!  You can create one by clicking on the 'Create User' link.

Once you have logged in, click on the 'New Business Illustrations' tab and select the 'Forms and Applications' wizard.

 

 

 

In order to find all the forms and applications you will need for a pending policy, answer the following questions to the best of your knowledge and the Forms and Applications Generator will provide the necessary forms and applications that you will need.

Once you have answered the questions, click on 'Continue.'

Answer any additonal questions that appear.  When finished, click 'Submit.'

A listing of all the forms and applications needed for the policy will then be displayed.  You can click on the link next to any of the forms or applications to view, save, or print a copy or you can click on the last link to receive all the forms and application in one packet.

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

Adjusting the Interest Rate on an Inforce VUL

Interested in looking at a client's inforce variable universal life policy, but not sure how to adjust the interest rate?  Read on to see how this can be completed in a few simple steps.

 

 

To begin log in at www.ikclife.com.  If you don't have a login, you can create one by clicking on 'Create User.'

 

 

 

 

To access the policy, click on 'Run Inforce Illustrations' within the Inforce Illustrations tab.

 

 

 

 

Next, type in the policy number for your client and click 'Ok' to bring up the policy.  Don't forget to take note of the parameters necessary to pull up an inforce policy.

 

 

 

 

Clicking 'Ok' will pull up a summary of the policy.  Click on 'View Illustration' to view additional information for the policy. 

 

 

 

 

To change the interest rate on this inforce variable universal life policy, click on the wrench at the top.

 

 

 

 

 

Click on the 'Inforce Rates' tab and choose which product you would like to change the interest rate on by clicking on the Product Name.

 

 

 

 

 

This will bring up boxes at the bottom of the screen that will allow you to make changes.  Once you have made your changes, click 'Ok.'

 

 

 

 

 

When you run the illustration, you will see that the new interest rate(s) you chose are being displayed.

 

 

 

Please feel free to contact us with any questions you may have.

 

 

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

 

New Version Release Page

The Illustration Development Team has implemented a new tool to help you stay up to date on the latest news pertaining to the illustration system.  Now when you log on to www.iKCLife.com there will be a 'Version Release' link on the 'Agent Home' page.  You can see where the link is located in the image below:

The version release page will include information about the most recent additions and improvements to both the online illustration system and the desktop illustration system.  You'll notice a version number below the date on the desktop version release information.  The version number is highlighted by the red box below:

This version number will always be the latest version of the KCL Illustration System.  So be sure to check it regularly in order to stay current with the newest features and ensure that you have the latest updates available!  Click here to be redirected to the new version release page now and see what features we've been working on.

Triple Option Term Wizard

The Triple Option Term Wizard can now be used without use of the Illustration System!  To access this Wizard, navigate to www.ikclife.com.  Once you have logged in, click on Agent Home and click on the Wizards tab.

Note: if you don't have a login, you can get one up by navigating to www.ikclife.com and clicking on the icon highlighted below:

Once the Triple Option Term Wizard comes up, simply type in the information and hit "Submit."  This will automatically generate the Triple Option Term Detail and it will be displayed on the screen within seconds.

The Illustration Development Team
illustrationhelp@kclife.com

Online New Business Illustration System

I wanted to take some time to spread awareness about our Online New Business Illustration System.  It is a great tool that allows you to quote new business illustrations in the same manner our desktop version allows, however, the Online New Business Illustration System doesn't require a download, is always current, and never requires an update!

To access the Online New Business Illustration System, navigate to www.ikclife.com and log in.  Note: if you do not have a login, you can create one by clicking here: 

After logging in, click on "Illustration System" to run New Business quotes!

~Buttons~

Here is a quick breakdown of the buttons you will see after logging in and what the function of each is.

 

Clicking this button takes you back to the main input screen.

 

Clicking this button will start a new illustration.

 

Clicking this button will allow you to open up any illustration you have run in the past and saved.

 

Clicking on this button will save the illustration you are working on so you can open it up and make changes to the inputs at a later date if necessary.

 

Clicking on this button will allow you to add an additional illustration on to the one you are currently working on.  This works well when you are trying illustrate multiple products for the same client.

 

Clicking on this button will delete the illustration you are currently working on.

 

Clicking on this button will add on the appropriate application and forms to your illustration

based on the product and state you have selected.

 

Clicking on this button will run the illustration so you can view and print it if necessary.

 

Clicking on this button will launch a grid that supplies year, premium, and specified amount detail.

 

Clicking on this button when running a Variable Universal Life product will provide fund allocation information.

 

Clicking on this button will allow you to make changes to your Agent information, which will show up on proposals.

 

Clicking on this button will allow you to make changes to interest rates, printer defaults, product

defaults, and client defaults.

 

Clicking on this button will open up the product guide.

~Initial Setup~

Choose the product you would like to quote from the dropdown, type in any relevent client information, and click "OK" when finished.

Adjust the Issue State if needed, select the Gender, type in the Date of Birth, select the Risk Class, and type in a new Specified Amount if necessary.

At this time you can also choose to add on any applicable riders you would like to illustrate.

~Calculating the Premium~

When running Term and Whole Life illustrations, the premium will automatically be displayed.  When running Universal Life and Variable Universal Life illustrations, the premium will need to be calculated.  To calculate the premium:

First, click on the "C" next to premium to bring up the premium calculator.

Clicking on the "C" will bring up the premium calculator box.  Click on "From Specified Amount" and you will then be able to select what type of premium you want to look at.  Clicking on the "C" to the right of the modal premium boxes will display that particular premium.  Once you are satisifed with the premium you want to use, click the radio button on the left-hand side to make the selection.

Once you have made your selection, to exit out of the premium calculator, click on the "X" and the premium calculator will then insert the premium you chose into the Premium Amount box.

 

You may also choose to enter any premium you would like into the Premium Amount box.  So long as it meets the minimum requirement, the premium you entered will be displayed when the illustration is run.

One other method available for calculating the premium on some of our Variable Universal Life and Universal Life products, is the PTY button, which can be used to calculate a premium to carry the policy to a certain age/year.

To figure the PTY premium, click on the PTY button.

Once you click on the PTY button a Premium Calculation box will come up.  Type in the Pay Through Year, Target Cash Value, and Achieved at End of Year values you would like to see.  Next, select Current or Guaranteed mortality from the dropdown.  Once you are finished, click on the small "X" at the top right.  This will calculate the premium based on your entries and inset it into the premium text box.

~Adding Application/Forms~
Once you are satisifed with your entries, you can choose to add on the application and forms to the illustration.  To do so, simply click on  at the top.  Based on your entries, clicking on this button will add any applicable application/forms to your illustration that can be printed when the illustration is run.  You can also choose to fill in application information or leave it blank.

~Running the Illustration~

Once you are satisifed with all of your entries, to run the illustration, simply click on  at the top.  This will run the illustration and allow you to print it out to show the client.

~Saving the Illustration~

An illustration can be saved in one of two ways:

1. At any point while you are on the input screen, you can click on the  button and this will save your progress.  Then, if you click on the  button at any time, you can open up your saved illustration and make modifications to the inputs if necessary.

2. Once you click on the  button and run the illustration, you will see a "Save" button.  Clicking on this button wil save the output as pdf that you could print to show the client or keep for future reference.

If you have any questions about these or any other features associated with the Online New Business Illustration System, please feel free to contact me.  I would be happy to assist you.

Jill Parsons
Illustration Development Team
illustrationhelp@kclife.com