Maximum ELB Benefit Box

The Enhanced Living Benefits (ELB) rider is a popular way to enhance the benefits of a life insurance policy.  To make illustrating this rider even easier we have added a max ELB benefit box that will calculate the maximum benefit amount for you!

The ELB rider provides a prepayment of the death benefit under either, or both, of two triggers:

1.  Confinement trigger* which requires the insured to be confined to and receiving care in an eligible nursing home, or

2.  Chronic condition trigger* which typically requires the insured to have a condition resulting in being permanently unable to perform, without substantial assistance from another individual, at least two of six activities of daily living (ADLs).

*Benefit triggers, elimination period and concurrent benefit payments may vary by state.

The total benefit provided by this rider cannot exceed $500,000* or 90% of the base policy's Specified Amount.  

*This is subject to state availability.  The maximum in some states is $350,000.

For more information about the ELB rider please consult the Product Portfolio found on iKCLife. 

To take advantage of this rider simply check the box next to ELB in the Riders section.

In the Rider Information section, checking the 'Max ELB Benefit' box will calculate the max ELB amount based on your case setup.  The amount calculated will be shown in the 'ELB Amount' box.  After checking the max ELB benefit box any changes you make to your case that would effect the ELB amount, like specified amount, will automatically be taken into account and will increase/decrease the ELB amount.

Let us know if you have any questions on the Enhanced Living Benefits rider or how to add it to your illustration.

Have a Great Day,

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

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

Cashback Plus Life Protector

Do you know any clients that need more insurance now than they do in the future?  If so, the Cashback Plus Life Protector wizard is for you!

The Cashback Plus Life Protector wizard provides a vehicle to illustrate the common occurrence of having higher current insurance needs but lower future insurance needs.  By purchasing both a Cashback Life and Life Protector, the client is able to take advantage of the unique features of both products: the return of premium feature of the Cashback Life and the guaranteed longevity of the Life Protector.

To take of advantage of this wizard log in to www.iKCLife.com.  Don't forget you can now sign in using your kclic credentials! 

Once logged in, click on 'Cashback + Life Protector' on the Wizards tab.

Next, enter all of the inputs on the Cashback Plus Life Protector wizard interface.

After clicking 'Run Wizard' an illustration will be generated.  The output includes a full Cashback Life and Life Protector illustration along with the Cashback Plus Life Protector sales concept pages.  Below is a sample of one of the output pages based on the above inputs.

In this example, the cash value after 20 years for the Cashback Life 20 is $14,150.00.  By investing $7,781.00 from the Cashback Life 20 into the Life Protector at the end of the 20 year period, the client is able to cease premium payments into the Life Protector and continue to have guaranteed coverage through age 120.  The client's take-home amount at the end of the 20 year period would be $6,369.00.  The client's current coverage need of $350,000 will be met using the combination of the two products and the future coverage need of $100,000 will be met using the Life Protector.       

If you have any questions about the Cashback Plus Life Protector concept or need any help setting up the wizard don't hesitate to contact us!

Have a Great Day,

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

EquiFlex IUL in Massachusetts

The EquiFlex Indexed Universal Life and the Additional Term Coverage Rider (ATC) are now available for sale in Massachusetts.  You can obtain a quote for the EquiFlex in MA using the Income Search wizard, online illustration system, or desktop system.  Please let us know if you need any help setting up an EquiFlex illustration!    

To see the latest list of state approvals, click on the following link: State Approvals.

Have a Great Day,

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

Information of Interest

The KCL Deferred Annuity new money product crediting rates have been updated to the following:

• GrowthTrack: 1.75%
• SecurityTrack: 1.25%
• SelecTrack 5: 1.25%
• SelecTrack 7: 1.50%
• SelecTrack 10: 1.75%
• Century II VA Fixed: 1.50%
• Affinity VA - Fixed: 1.50%
• Freedom VA - Fixed: 1.50%

To get the latest interest rates make sure your illustration system is updated to version 4.53f.  Please let us know if you have any trouble getting your illustration system updated or have any questions regarding the updates.

Have a Great Day, 

Illustration Development Team

illustrationhelp@kclife.com

1-800-572-2467 x8162