IAO Calculator Supplemental and Rider Defaults

Recently, the transfer to the Quick Quoter from the IAO Calculator wizard was updated to automatically add your rider and supplemental defaults to the case! If you haven't used the IAO Calculator in a while, it can help you find all available products based on a particular death benefit payout and client information. The IAO Calculator shows premium results based on your setup and allows for transfer to the Quick Quoter where additional information can be added.

Clicking Transfer to Quick Quoter carries over all information entered and automatically selects all of your defaults. Once here, a full illustration can be generated or applications can be added and electronically submitted for signatures.

As a reminder, rider and supplemental defaults can be updated on their corresponding tab at the top of the Quick Quoter.

Please don't hesitate to contact us if you have any questions or would like to walk through setting up a case on the IAO Calculator wizard!

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

Income Search Wizard

The Illustration Development Team is excited to announce a new version of the Income Search Wizard has been released!  The Income Search Wizard is a quick and easy way to calculate maximum tax-free income from Kansas City Life Company's Premier Protection Universal Life, EquiFlex Indexed Universal Life, and Compass Elite Indexed Universal Life.  The Accumulator Variable Universal Life will be added later this year.

Keep reading to learn about some of the key features of the wizard.

• Features live validation with helpful messages as inputs are given to the system.

• A faster calculation: click Run Wizard and within a few seconds you can immediately view the output summary located in the Results section at the bottom of the wizard.  You can quickly modify the input parameters as many times as needed to arrive at the best policy design for your client.

• A clear message if no income is generated.

• Users can transfer the Income Search case to the Quick Quoter where customization can be done including:

• The addition of riders and supplementals.

• Generate a full illustration which includes the Cash Flow Summary page.

• Applications can be added and electronically submitted for signatures.
• Each Income Search Wizard case is saved automatically for future retrieval.  Use the 'Save Case As' box to give each case a unique name.  On the history page, you can then search by Client Name or the saved named of the case to quickly find a specific case.

Don't hesitate to contact us if you have any questions on the Income Search Wizard or would like to walk through a case together!

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

E-Application: Training

With the E-Application continuing to grow in popularity, one of the Illustration Development team's top priorities has been to ensure that agents have all the tools and resources to effectively complete their electronic applications. With that goal in mind, we have published several different training materials on iKCLife to allow agents to answer some of their more general questions at their own convenience.

For the agents who were not able to view a webinar training session, we have published a video that walks through filling out and submitting an entire application. To access the video, simply log in, click on the Training tab, then Videos. The video is posted under the iKCLife training topic and is entitled "E-App Training".

Another training resource can be found by clicking on the Sales Materials tab and searching for form number 12448 or for keyword "e-app". The "E-App Agent Guide" is a PDF document you can download by clicking the green arrow. This document provides a brief overview of adding applications to your case, filling out the application fields, and submitting it for signatures. 

As always, if there are any questions that these resources do not answer, you can contact IllustrationHelp@kclife.com or call 1-800-572-2467 ext. 8162.

Happy Selling!

E-Application: Hold for Issue

As e-application use increases, the Illustration Help team has received many questions regarding the Hold for Issue option within the Billing Information section. The hope is that this post will clarify the current functionality of Hold for Issue and answer some of our most frequently asked questions.

The first and most important aspect to clarify is that checking the Hold for Issue box will not include the PAC form in the signed application packet and coverage will not be bound, regardless of what information has been entered in the section. This functionality allows the applicant and agent to review the pending policy before it is issued. If banking information is received with the application packet, the applicant is bound for coverage and Kansas City Life is obligated to draft premiums using the provided bank information. Thus by not including the page, coverage is not bound and the premiums would not be drafted until further instructions are received after the case is approved.

In the first image below, all of the billing information is filled out, but the note at the bottom says that coverage is not bound. This note is included to provide additional information regarding whether or not coverage is bound based on the scenario entered in the section. Because Hold for Issue is checked, the PAC form is not to be included in the application packet and coverage is not bound. The information at the top of the section states that the banking information can be collected now and that the Applications Dashboard can be used to submit the PAC form for e-signatures upon approval. In the second image, Hold for Issue is not checked, so the PAC form will be included in the packet and coverage is bound. 

For the cases where Hold for Issue is checked, the PAC form can be submitted for e-signatures using the Applications Dashboard. Cases awaiting the PAC form are designated with a yellow dollar sign. Expanding the case will show you the option to complete the PAC form via e-signature or other. Clicking Other means that the form was submitted to New Business by mail, fax, email, etc. This button will mark the overall status of the case as complete and you will not be able to submit the PAC form for e-signatures any longer. Clicking E-Signature will generate and send AssureSign emails for the premium payor to sign the form. The e-signature process on AssureSign is the same for the PAC form and the entire application. 

If there are additional questions regarding the functionality of Hold for Issue or suggestions for improvement, please free to contact IllustrationHelp@kclife.com.

Happy application-writing!

E-Application is Now Available

We are very excited to announce the release of the E-Application, which gives agents the ability to electronically write and submit applications to New Business. This tool is found on the Quick Quoter - simply log in to iKCLife with your credentials, navigate to the Quick Quoter, and you can begin.

When simply running quotes for your clients on the Quick Quoter, we do not require you to enter in certain client information that does not affect the calculated premium. In order to be able to add applications to your case, however, you will have to enter in certain client details, including first and last name, address, and date of birth. Once these are all added correctly, you can click the button to "Add Apps".

When the button is clicked, a new tab will appear at the top of the page called "Applications". From here, you can choose whether you would like to fill out the Tele-App or Full App. Simply click the button for the application you choose and begin entering the details. Please note that you can save the application at any time, regardless of completion status, by clicking on the circle button in the top right corner and clicking "Save Case". This will save the application in its current status so that you can come back to that point at a later time.

As you fill out the application, the status of each section, which is shown by the icon on the right side of each blue bar, will be marked complete when all required fields in that section have been completed correctly. Only once all required fields are complete will you be able to begin the E-Signature process by clicking the "E-Signature" button at the bottom of the page.

At any time, you may scroll to the bottom of the page and click "View Applications". This will give a PDF packet of the application forms pre-filled with whatever details have already been entered on the application. You can then take this packet and obtain physical signatures from all required signers and submit that to New Business as you have always done.

Once you have electronically submitted your case for signatures, you can view its status by navigating to your Applications Dashboard, which can be found on your Agent Home page.

Please let us know if you have any questions or run into any issues submitting your electronic applications by contacting us at IllustrationHelp@kclife.com or by calling us at 1-800-572-2467 ext. 8162. 

Happy Selling (and much quicker application writing)!

SecurityTrack Now Available in the Quick Quoter

The Illustration Development Team is excited to announce the most recent addition to the Quick Quoter, the SecurityTrack! You can now generate quotes for this annuity for your clients by clicking here.

The Quick Quoter's user-friendly interface makes it very easy to enter all of your client's personal data and add any premium schedules, payout options, or income schedules related to the case. Payout options now include Life, Certain and Life, Certain Specified Period, Specified Certain Amount, Installment Refund, Joint and Survivor Life, and Joint and Survivor Certain and Life.  

The entire layout of the illustration PDF, including the Lifetime Income Rider (LIR) detail page, has been streamlined for clarity and readability. You will notice that the payout option details can now be seen at the bottom of the "Quick View" summary output making it faster than ever to approximate your clients' future income without having to first generate the entire illustration. 

With this addition, you also have the option to view the guaranteed and current interest rates by clicking the "Interest Rates" tab at the top of the Quick Quoter page. This tab allows you to set a different default current illustrated rate for the SecurityTrack, should you desire to do so. Changing the rate for the selected product will update the current illustrated rate for all illustrations you run for that product. 

As always, you can access specific product details and additional agent information in the Product Portfolio. 

Please let us know if you have any suggestions that would improve your experience in illustrating the SecurityTrack or any other products on the Quick Quoter by contacting us at IllustrationHelp@kclife.com. 

As always, happy selling!

New "Save Age" Feature on Quick Quoter

Recently, a new feature was published to the Quick Quoter that allows agents to save the insured's age on a new business illustration. Doing so allows the insured to apply for insurance with a younger age and thus obtain a better rate based on the earlier age and risk class. Note that when an application with the saved age instead of the actual age is approved, the insured must pay all of the premiums from that previous point in time to when the policy is issued.

As the image above shows, when the insured's date of birth is entered, the age is calculated based on the age-near or age-last rule, depending on the selected product. Clicking the "Save Age" button, located below the client age box within the client information section, calculates the insured's age as of 6 months prior to the current point in time and compares the two ages. If the age calculated after clicking "Save Age" is younger than their age at the current time, that is the date of birth that will be used on the illustration. The image below shows this function. 

It is our hope that this feature makes the application-writing process easier for agents, but we would love to hear your feedback and ideas for other features you would find useful on the Quick Quoter. As always, you can contact us at IllustrationHelp@kclife.com. 

Happy selling! 

Triple Option Term Wizard and Supplemental

A major role of the Illustration Development team is to develop tools to enhance the agent experience as they are quoting and selling Kansas City Life products to clients. One such tool is the Triple Option Term wizard, which allows you to provide a side-by-side comparison of a level term product with a return of premium product. The Triple Option Term wizard is accessed by logging into iKCLife, clicking "Wizards", then the "Triple Option Term" in the corresponding drop down menu.

Upon entering the term period, comparison product, specified amount, and client info, click "Run Wizard" to generate the output that you can download as a printable PDF for your clients. The far left column shows all coverage provided by the level term product as well as the net cost over the entire term period. The middle column shows half of the coverage provided by the level term product and half by the return of premium product. The far right column shows all coverage provided by the return of premium product. The rate of return is the annual rate that an alternative investment would have to provide in order to obtain the same return by investing the premium difference between Scenarios 2/3 and Scenario 1.

These detail pages can also be added to your 20 year and 30 year term illustrations from the Quick Quoter and Illustration System, subject to minimum specified amount limitations ($200,000 for the Signature Term products and $500,000 for the Choice Advantage Term products). From the Quick Quoter, expand the Supplementals box, then click the checkbox next to Triple Option Term. When you download this illustration, the same detail pages that the Triple Option Term wizard generates will be included in the illustration packet. 

We hope that this tool is useful and makes it easier to show your clients that by just paying slightly more for a return of premium product, they can generate a higher return on their investment and remove the risk of no premium return should they outlive the initial term period. 

Happy selling!

New Term and 20-Pay Whole Life Products

Kansas City Life has introduced 2 new term series to replace the Level Term, Level Advantage Term, and ChoiceTerm series.  The Level Term series will become the Signature Term series, which will offer 10, 15, 20, 25, and 30 year term options with a minimum specified amount of $100,000.  The Level Advantage Term and ChoiceTerm series will be consolidated down into the Choice Advantage series.  This new series will combine the variety of term periods the Level Advantage offered, plus a 25 year term, as well as the premium discount for higher bands that the ChoiceTerm offered with a minimum specified amount of $250,000.

Kansas City Life also has another new product addition with a 20-pay whole life product, Value Certain 20.  This product will be very similar to the already offered Value Assured whole life product with the difference being that the premium will only be paid for 20 years.  The plan will be guaranteed to age 120 where the cash value will be equal to the death benefit.

This is an exciting time to be selling Kansas City Life products with more revisions coming in the future! The Consumer Brochure and Fact Sheet for the Signature Term, Choice Advantage Term, and Value Certain 20 can be found in the Product Portfolio.  Head over to the Quick Quoter and begin quoting these new products for your very lucky clients!

Happy Selling!

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