Multiple Owners Application Supplement

As of February 1, 2015, Kansas City Life Insurance Company only accepts applications that include all owners' signatures.  To ensure that all needed forms are generated a question about multiple owners has been added to the Forms and Applications wizard. 

If you have a case that has multiple owners check the box for the 'Are there multiple owners on the policy?' question.  Checking this box will add the correct multiple owners application supplement based on state and product after clicking 'Run Wizard'.

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

IRR Supplemental Enabled for Life Protector

The Internal Rate of Return (IRR) supplemental is now available to be added to Life Protector illustrations! 

The IRR is a method used to determine the return on premiums paid into a life insurance policy.  It is the calculation of the interest rate required for the cumulative premiums paid accumulated with interest to equal the death benefit or surrender value of the policy in a given year.  Each year's IRR calculation assumes the policy is still inforce and the insured died or surrendered at the end of that year.

To add the IRR to the Life Protector on the desktop system simply check the 'Internal Rate of Return' box in the Supplementals box.

If you're using the online new business illustration system click on 'Tools' (the wrench icon), 'Print Defaults', and then check the 'Internal Rate of Return' box that is listed in the Supplemental section.

If you have any questions on the Internal Rate of Return supplemental or how to add it to your Life Protector illustration give us a call!

 Have a Great Day,

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

A Couple Quick Quoter Tips

The Quick Quoter is a great way to consider different coverage options for clients. It is more streamlined than the new business illustration system and creates more condensed illustrations that are easier to take in. These advantages can be furthered by the following tips which should greatly enhance your experience.

Entering Detailed Client Information

Personal information of the client only needs to be entered once so it is kept out of the way the majority of the time. To enter or edit more detailed client info, simply click the icon next to the word 'Client' in the header of that section.  

The 'Client' section will expand to include the necessary fields to input. To hide it again, re-click the icon.

Live Validation

After entering a value into an input field the value is automatically validated.  If there is an invalid value or combination of values a detailed error message will be display at the top in red.  In a similar fashion if a value is ever updated due to a change made elsewhere on the screen a warning message will be displayed at the top in blue.  The image below shows a warning message about the age being automatically calculated  based on the entered date of birth and an error message stating that the entered specified amount is invalid.  Also note that the field corresponding to the message is also highlighted red and blue.

Accessing Previous Illustrations

Another advantage of the Quick Quoter is that the inputs for your illustrations are automatically saved.  Click 'View Past Quick Quoter PDFs' to access your saved cases.

Note that the “Save Output As” field which normally sets the title for the .pdf file also serves as the record for your previous illustrations.
  

Finally, to load all of the settings that were used to create the previous quote simply click the icon in the “View Wizard” column. The quote is ready to reprint or modify as needed!

If you have any questions about how the Quick Quoter works please do not hesitate to contact us.

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

Accumulator VUL Added to the Income Search Wizard

The Accumulator VUL is now an available product on our Income Search Wizard!

To illustrate the Accumulator VUL using the Income Search Wizard simply choose the 'Accumulator VUL' from the 'Product' dropdown list.

 The inputs for the wizard are the same as if you were illustrating one of the other products with the exception of the interest rate fields.  On Accumulator VUL illustrations we show three different interest rates: guaranteed, mid, and high.  The guaranteed interest rate will be a set value but you can choose what mid and high interest rate will be shown on the illustration.  To do this type in the gross interest rate you want shown.  Please note that the entered mid interest rate must be between the guaranteed interest rate (0.00%) and the entered high interest rate.  Also, the entered high interest rate must be between the entered mid interest rate and the maximum illustrated rate (12.00%).

After you have entered all of the desired values click 'Run Wizard' to see the 'Results' section. When you are happy with the results scroll down to view the full illustration where you can save or print the illustration.

Please contact us if you have any questions or would like to walk through setting up an Accumulator VUL on the Income Search Wizard together.

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

IUL Segment Detail Supplemental for EquiFlex

We have just released the Indexed Universal Life (IUL) Segment Detail supplemental for EquiFlex illustrations! This new option will help clients make a more informed decision between the two types of indexed accounts available.

Including this supplemental is simple. Set up the EquiFlex illustration as you normally would. After all inputs are correctly entered, put a check in the 'IUL Segment Detail' box in the Supplementals section.

When the illustration has been run, you will find the IUL Segment Detail supplement at the end of the illustration. Two tables will be included showing the performance of each option in previous segments. Segments will be shaded to allow the most recent performance to be easily found.

Indexed Account A portrays the performance of S&P 500 with cap on the growth of the Indexed Credit. Note that on segments where the '% Change in S&P 500' are greater than the growth cap, the Index Growth Rate is capped.

Indexed Account B shows the performance of S&P 500 using the participation rate of the Indexed Credit. Note that in all segments illustrated here the 'Index Growth Rate' values are the participation rate times the '% Change in S&P 500' column.

Taken together, these two charts show that Indexed Account B can earn more than Indexed Account A when the S&P 500 is performing well. When the '% change in S&P 500' is lower, however, the reverse is true.

Please feel free to contact us should you have any questions on how the IUL Segment Detail supplement works or would like help setting up an illustration to include it.

Have a Great Day,

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

Crossover Point for Life Protector

The Crossover Point supplemental is now available on the Life Protector!  This is a great supplemental to add to your illustration if you are looking to upsell to the Value Assured - Whole Life product.

To get started, set up a Life Protector illustration like normal.  Once you have entered all of the inputs for the Life Protector, simply check the 'Crossover Point' box in the Supplementals section.

Now when you run the illustration, the Crossover Point supplemental will be added at the end of your illustration.

The "Crossover Point" is the point at which the client will have paid less for Value Assured coverage than for Life Protector coverage.  In the example above, the Crossover Point occurs in year 6.  This number will always be red and underlined so it is easy to spot!

Total Net Cost is the total net outlay should the client drop coverage at the end of the policy year.  It is the sum of the premiums paid less any cash value returned at surrender.

The IRR represents the before-tax rate of return if the difference between the Life Protector and Value Assured premiums were invested for a specified number of years and the Value Assured cash value was returned at the end of those specified years.

Don't hesitate to contact us if you have any questions on how the Crossover Point works or if you would like to walk through setting one up together.

Have a Great Day,

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

Updated order for Training Videos

We recently updated the order of our training video lists to be more user friendly for newer agents. This is especially helpful if you want to start out with videos over some basic topics and products, and then transition to more advanced topics when it's convenient for you.

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