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