Changing the Illustrated Interest Rate

Did you know you can change the illustrated interest you use on your illustrations?  For example, say you want to take a look at illustrations using the new maximum illustrated rates for the EquiFlex Indexed Universal Life.  Effective September 1, 2015, the maximum illustrated rate for the EquiFlex will be 6.88% and for the EquiFlex (IN, PA) it will be 6.32%.  Keep reading to learn how to make this change on both the online illustration system and the desktop system. 

If you are using the online illustration system

1.  Select the wrench icon at the top of the input screen.

2.  Select the name of the product whose interest rate you would like to change.

 3. You can now edit the interest rate below the list.  Once you have changed the interest rate to what you want to illustrate at, click 'OK'.

4. You will see a confirmation message that lets you know the rates were successfully updated.  Clicking on the 'Illustration System' icon in the upper left corner will then return you to the input screen.

If you are using the desktop system

1.  First, select the wrench icon at the top of your window.

 2.  In the options window that opens on your screen, select the 'Individual Life' tab.

3. Next, select the 'Interest Rates' tab.

 4.  Double click the 'Current' rate you are wanting to update.  After you input the rate you want to use, click the 'OK' button to accept the changes.

Have a Great Day,

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

EquiFlex IUL Training Videos

The EquiFlex Indexed Universal Life (IUL) can be a complex product.  To better understand how the product works, new training modules are now available on the illustration website.

To watch these modules, log on to iKCLife.  Don't forget you can now sign in with your KCLIC credentials as well!  Once logged in, click on Training and then Videos.

Next, click on the EquiFlex IUL Training topic in the left hand box.

The modules related to this topic will then be shown in the right hand box.  Clicking on a video within this box will load the video into the player.  Each module is five to twelve minutes long and cover the following topics:

• Four Key Attributes of the EquiFlex Indexed Universal Life (IUL)
• How the EquiFlex Indexed Universal Life Works
• Illustrating the EquiFlex IUL
• Illustrating Income with the EquiFlex IUL

Have a Great Day,

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

Product Updates!

Kansas City Life introduced several product updates on 8/1/2015.  Read below to learn about them!

EquiFlex IUL in Indiana and Pennsylvania is here!

The EquiFlex - IUL (IN, PA) product highlights are:

• A minimum issue limit of $50,000 for Issue Ages 50+ and $100,000 for Issue Ages 20-49
• A guaranteed payment period of 20 years for Issue Ages 20-55, to age 75 for Issue Ages 56-65 and 10 Years for Issue Ages 66-80
• A 10-year surrender charge period
• Two Indexed Accounts available (using the S&P 500 Index)
• Annual point-to-point with 10.00% cap
• Annual point-to-point with 60.00% participation rate
• A guaranteed growth floor of 1.00% for the Indexed Account and an Indexed Account guaranteed interest rate of 1.00%
• Guaranteed interest rate on the Fixed Account of 2.00%
• Both Fixed Account and Indexed Account loan provisions (including a preferred Fixed Account loan provision beginning in year 11)
• Dollar cost averaging into the Indexed Account available
• Coverage options A, B and C
• A wide range of riders to customize your client's coverage (including the Additional Term Coverage, Enhanced Living Benefits, Income Assured Option and the Overloan Protection Rider)

Life Protector Revisions

Beginning August 1, 2015, the revised Life Protector will be issued in approved states.  The Life Protector product changes include:

• The addition of the Standard Select Nontobacco risk class
• Modified policy changes and bonus
• A lower guaranteed interest rate of 2.00%
• Premium changes

On the illustration system you will now see two Life Protectors in the product drop down list.  Life Protector is the revised version and Life Protector OLD is the previous version.  To see if your state is using the revised or previous version of the Life Protector check the State Approvals map.  State Compliance Updates will be sent as the revised Life Protector is approved in the remaining states.

Enhanced Living Benefits (ELB) Rider

The Enhanced Living Benefits (ELB) rider is now available on the revised Life Protector Universal Life product.  Also, the issue age range for the ELB is expanding.  The max issue age will now be 80 rather than 70.

The ELB can help provide protection from unexpected long-term care expenses caused by illness or injury by prepaying a portion of the death benefit when a qualifying condition triggers benefit payments.  The new business products available for the ELB are:

• EquiFlex IUL
• FlexWealth Advantage UL
• SuperNOVA UL
• Life Protector UL (revised version)
• Accumulator VUL

If you are using the desktop system be sure to check for updates to get Version 4.6 so that you get all of the 8/1 product updates!

Please let us know if you have any questions concerning any of the updates for the EquiFlex - IUL (IN, PA), Life Protector or ELB.

Have a Great Day,

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