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