Check out the new Income Search Wizard!

The Income Search Wizard is a new illustration enhancement that can be found on www.iKCLife.com!!

 

The Income Search Wizard is a quick and easy way to calculate maximum tax-free income from Kansas City Life Insurance Company's SuperNOVA Universal Life, FlexWealth Advantage Universal Life and EquiFlex Indexed Universal Life products.

 

Once you have logged into www.iKCLife.com there are two ways you can get to the Income Search Wizard.  The first way is by hovering over Illustrate and then clicking on Income Search in the drop-down list.

 

The second way to get to the Income Search Wizard is by clicking on the tab named Wizards and then selecting Income Search.



After entering the client data, simply click Run Wizard and within a few seconds you can immediately view the output summary located in the Results section of the Income Search Wizard.  The Wizard allows you to quickly modify the input parameters as many times as needed to arrive at the best policy design for your client.  Once the income search is completed and the desired results are achieved, simply print the proposal along with the appropriate sales forms.  Each Income Search Wizard case is saved automatically for future retrieval.

Please 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!

Have a Great Day,

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

Underwriting Requirements Guide

The Underwriting Requirements Guide can now be found in the Product Portfolio section on our online illustration system. This guide will tell you about Kansas City Life Insurance Company's financial and medical underwriting guidelines.

 

To find the Underwriting Requirements Guide you must first navigate to www.ikclife.com.

 

Next, click on 'Product Portfolio'.

Now, click on 'Underwriting Requirements Guide' and then 'Information'.

 

 

You will now see the information for the Underwriting

Requirements Guide.  Click on the picture of the guide to open it in a new tab.

 

 

Have a Great Day,

 

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com



Ask the Development Team

 

One of the training tools that can be found on iKCLife is called Ask the Development Team.  This is a quick way to send us a question that you may have.  Some examples could be if you have a question on how to use the illustration system, a product related question, or a technical issue.  Ask away!

 

To access this tool you must first sign into www.iKCLife.com.

 

 

 

After you have logged in, click on 'Training' and then 'Ask the Development Team'.

 

 

You can now fill out the below form with your name, contact information, and the question you have for the development team.  This will be emailed directly to us and we will then either email or call you with the answer to your question. 

 

Have a Great Day,

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

Guide to Commission Calculations

 

Did you know we have a Guide to Commission Calculations that can be found on iKCLife?!  This guide covers everything from general information to specific commission facts on the different types of products Kansas City Life offers.  There are definitions, examples on how your commission will be calculated in different scenarios, and much more! 

 

To begin, navigate to www.ikclife.com and log in.  Don't forget you are now able to sign into iKCLife using your kclic.net credentials!

 

Once logged in, hover over 'Illustrate' and click on 'Agent Home'.

 

Next, click on the tab named 'Tools'.  On this tab you will see the link for the Guide to Commission Calculations. 

 

The guide can also be found when you're in the Illustration System.  Simply click on the below icon and the guide will open up.

 

Please 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

Living Benefits Rider

The Living Benefits Rider (LBR) is now available for sale with the Cashback Life, Value Assured and Gift of Life in many states!

 

A quick way to see if the LBR is approved for a specific state and product is to look at the State Approvals Map.

 

Please do not hesitate to contact me if you have any questions.

 

Have a Great Day,

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

CVAT or Guideline?

When should I use CVAT vs. Guideline?  This is a question we frequently get when helping an agent set up a new business illustration.  Below explains what CVAT and Guideline mean and some scenarios of when to use each one.

 

Cash Value Accumulation Test (CVAT) and Guideline Premium (Defra) are types of IRS/DEFRA testing that have components that must be met so a policy qualifies as life insurance under IRS section 7702.

 

CVAT

This type of testing has one component that must be met.

1. A contract meets the cash value accumulation test of this subsection if, by the terms of the contract, the cash value of such contract may not at any time exceed the net single premium which would have to be paid at such time to fund future benefits under the contract.  If the cash value does exceed the net single premium the Illustration System will raise the death benefit to insure the life policy passes the cash value accumulation test.

Guideline

This type of testing has two components that both must be met.

1. The sum of the total premiums paid under the life contract cannot exceed the greater of the Guideline Single Premium or the accumulated Guideline Level Premium.  Premium payments will be limited and the policy value "force outs" will be taken on the Illustration System to guarantee that this requirement is met.
2. If the specified amount of the policy at any time is less than the applicable cash value multiplied by the corridor rate the policy will enter the "cash value corridor" and the death benefit for the period will be increased.

CVAT works better for clients:

• Choosing a level death benefit or funding at the 7-pay limit for 7 years since there are no limits on premium payments
• Looking to highly fund their policies (in excess of Guideline premium limits), over a short period of time
• Requiring future reductions in their policy face amount
• Purchasing a guaranteed life insurance product which will be funded past age 100

Guideline works better for clients:

• Maximizing their late duration cash and death benefit while funding at the Guideline Single Premium limit, assuming the death benefit will go into the corridor in the future
• Choosing an increasing death benefit (Option B) and wish to pay the maximum non-MEC premium for more than 7 years before switching to a level death benefit option (Option A)

Have a Great Day,

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

Updating Preferences

A great time saver on setting up illustrations is to update your preferences before you start.  You are able to set up defaults for billing mode, billing type, specified amount, city, state, zip, gender and age.  For instance if you sell mostly in one state simply update the state in the preferences section.  That way you won't have to change the state for every single illustration you run!  

 

To begin, go to www.ikclife.com and log in.

 

Hover over 'Illustrate' and click on 'Agent Home'.

 

 

Next, click on 'Preferences'.

 

 

Now, you can update the preferences to your choice.  After you are done updating the preferences click on 'Update Preferences' to save them.  Updating the preferences here will update them for the online illustration system and all of the wizards. 

Please contact us if you have any questions!

Have a Great Day,

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