Triple Option UL Supplemental

The Illustration Development Team is excited to announce that the Triple Option UL is now available to be added to your illustrations while using the Quick Quoter!

The Triple Option UL shows side by side scenarios of a Term, Cashback, and Universal Life product for your client.  This supplemental can currently be added to all of the products in the Quick Quoter except for the Value Assured and Gift of Life.  A new enhancement for the TOUL supplemental is that it is available even if a rider that has a charge has been added.  It is also available if a substandard rating has been added to your case setup.

To add the Triple Option UL to your illustration click the arrow to expand the supplementals box.  This section will show all of the available supplementals that can be utilized based on what product you are illustrating.

Like the riders, clicking on the name of a supplemental will give a quick overview of what the supplemental is.  To add the TOUL simply check the box and run the illustration.

Below is a sample of the updated look for the Triple Option UL output.  

Please contact us if you have questions or would like to walk through adding the Triple Option UL supplemental to your illustration in the Quick Quoter.

Have a Great Day,

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

Internal Rate of Return in the Quick Quoter

The Internal Rate of Return supplemental is now available to be added to illustrations using the Quick Quoter!

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.

The Supplemental section will start collapsed.  To view the available supplementals for your case click the arrow to expand the section.

Currently the IRR is the only available supplemental in the Quick Quoter but keep checking back as we will be adding more!  

Like the riders, clicking on the name of a supplemental will give a quick overview of what the supplemental is.  To add the IRR simply check the box and run the illustration.

Please contact us if you have questions or would like to walk through adding the Internal Rate of Return supplemental to your illustration in the Quick Quoter.

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

Compass Elite Illustrated Rates Supplemental

Have you ever wondered what illustrated rate you should use on your Compass Elite Indexed Universal Life (IUL) proposal?  If so, the Illustrated Interest Rate Consumer Sheet (form 12134) is a great supplemental you can read to learn about the historical probability of the Standard & Poor's 500 (S&P 500) Index.  This supplemental is also an excellent tool to show to clients to give them an acceptable level of confidence that the illustrated assumptions will be met.

If you would like to add the Illustrated Interest Rate Consumer Sheet to your Compass Elite illustration, check the 'Illustrated Rates' box in the 'Supplementals' section of the interface.  This supplemental is available to be added to your illustration using the desktop system, online new business system, and the Income Search wizard on iKCLife. The supplemental can also be downloaded or printed in color on the online sales material catalog and product portfolio on iKCLife.

Have a Great Day,

Illustration Development Team
1-800-572-2467 x8162

illustrationhelp@kclife.com

Indexed Universal Life Training Videos

The Indexed Universal Life (IUL) training videos have been updated to encompass both IUL products that Kansas City Life offers: EquiFlex and Compass Elite.

To watch these modules, log in to iKCLife.  Don't forget you can now log in with your KCLIC credentials as well!  Once logged in, click on Training and then Videos.

Next, click on the 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 twenty minutes long and covers the following topics:

• Four Key Attributes of Kansas City Life's IULs
• How Indexed Universal Life Works
• Illustrating IULs
• Illustrating Income

Have a Great Day,

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

Inforce SuperNOVA

The Illustration Development Team is excited to announce that the SuperNOVA is now available to be inforce illustrated!

You'll find an updated look with new features to immediately generate inforce SuperNOVA illustrations.

Features include:

• The ability to make immediate and future changes for:
• Premium
• Specified Amount
• Death Benefit Option
• A new Loan Payback Section with a repayment calculator.
• The ability to illustrate all riders and edit rider amounts.

To run a SuperNOVA inforce illustration hover over 'Illustrate' in the menu bar and select 'Inforce Illustration'.

On the inforce search screen enter the SuperNOVA policy number and click on 'Search'.  If you are the assigned agent for the policy, the policy has been in force for at least a year, and the policy is at or above the minimum specified amount the policy will be pulled up.

This will take you to an updated look of the summary screen where you can view the basic information of the policy.

Click on 'View Illustration' in the upper right hand corner to go to the input screen.  From here you can run a current inforce illustration or make hypothetical changes to the policy.

There are also informational messages that will appear when a hypothetical change is made to help you understand how the change will affect the policy. Informational messages include error messages when an invalid entry is made to inform you about why you can't use the change you are trying to illustrate. This makes illustrating the SuperNOVA in the inforce system educational as well.

Please contact us if you have any questions about obtaining an inforce SuperNOVA illustration on iKCLife.

Have a Great Day,

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

Compass Elite IUL

Kansas City Life announces the new Compass Elite IUL     

 New accumulation-oriented IUL for clients who are looking for more growth potential.

Kansas City Life Insurance Company is proud to announce our newest product addition - the Compass Elite Indexed Universal Life (IUL). The Compass Elite will join the EquiFlex in our IUL product offerings.  

   

Similar to the EquiFlex IUL, the Compass Elite IUL is a flexible premium universal life product with an indexed feature. It is designed to meet clients' needs head on with income tax-free death benefit protection for beneficiaries, plus the opportunity to build cash value on a tax-deferred basis with a safeguard against market downturns.

The Compass Elite IUL brings a new market niche to the table with the ability to sell in the juvenile market for ages 0 to 14 at $50,000 minimum issue limits. This is an excellent vehicle for long-term buildup cash value while still providing death benefit protection.

Perhaps one of the best features of the Compass Elite IUL is the addition of a third Indexed Account Option; Indexed Account C. For a small charge, Indexed Account C provides a higher Annual Point-to-Point cap limit than Indexed Account A, thus potentially increasing the policy's cash value growth potential.

The Compass Elite IUL is available to illustrate on both the online new business illustration system and the desktop system.  Pull up the system you are using and select Compass Elite - IUL from the initial product drop down list.

Please contact us if you have any questions on the Compass Elite IUL or would like to walk through setting up a quote together.

Have a Great Day,

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

IAO Calculator

Have you ever wanted to know what products are available based on the death benefit payout and client information?  If so, the brand new IAO Calculator wizard is for you!  Based on the IAO inputs and client information, available products will be shown and premium results can be returned.  This is also the first wizard that can be transferred into the Quick Quoter!

To take advantage of the new wizard you must first log in to iKCLife.  Once logged in, click on IAO Calculator in the Wizards dropdown menu.

 To begin, choose how the death benefit will be paid out and enter the client information.  Based on the IAO inputs and client information, invalid products will be grayed out.  Underneath each product we list if it's unavailable due to age, risk class, specified amount or state.  Select one of the available products and click Run Wizard.

Clicking Run Wizard will list out the Total Death Benefit Payout and a quick view of the premiums.  For term, return of premium and whole life products, the "Regular" and "PAC or Combined Billing" premium will be shown for all billing modes.  For universal life, the minimum and target premium will be listed for all billing modes.

If you are happy with the case setup on the IAO calculator but want to customize the case by adding riders or want to generate a full PDF, simply click the "Transfer to Quick Quoter" button which will input all of the information from the wizard to 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!

Have a Great Day,

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