Illustrated Rates Supplemental

Have you ever wondered what illustrated rate you should use on your EquiFlex Indexed Universal Life (IUL) proposal?  If so, the Illustrated Interest Rate Consumer Sheet (form 11711) 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.

To add the Illustrated Interest Rate Consumer Sheet to your EquiFlex illustration check the 'Illustrated Rates' box in the 'Supplementals' section.  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.

If you're wanting a stand alone copy of the form you can find one in the Product Portfolio and Online Sales Materials Catalog sections on iKCLife.

Please contact us if you have any questions!

Have a Great Day,

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

Variable Annuities in Forms and Applications Wizard

Did you know Kansas City Life's Variable Annuities have been added to the Forms and Applications Wizard?  The wizard is now a one stop shop for all of your application needs!

To use the Forms and Applications Wizard, log in to the online illustration system at www.ikclife.com. 

Once logged in, click on the Forms and Applications Wizard link on the New Business Illustrations tab.

This will take you to the Forms and Applications Wizard where you can find all of the forms and applications for a case.

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

Learn how to personalize your illustrations!

A great way to personalize your illustrations is by adding your agent and agency information and setting up defaults on your iKCLife profile.  To begin, log in to www.ikclife.com.  Don't forget you can now log in using your kclic credentials!

To add your agent and agency information to your iKCLife profile simply click on 'Personal Information'.

To add, remove, or edit any of the information listed click on 'Edit' in the upper right hand corner.

Once all of your information is entered click 'Update' in the lower left hand corner to save it.

The next time you run an illustration you'll see that the information you entered is automatically added to the illustration in the agent section.

You can also set up defaults for all of your illustrations by clicking on 'Preferences'.

Changing the defaults to fit how you sell is another great way to personalize your iKCLife profile.  For instance setting the state to the state you sell the most in can make it easy for you to set up illustrations for all your future cases.

Have a Great Day,

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

Term Quote Sheet Enhancements!

Check out the recent enhancements to the Term Quote Sheet wizard!  The Term Quote Sheet is a great tool for price comparison on all of Kansas City Life's term products.  The new additions are table rating and flat extra fields, validation based on a new state drop down, and the ability to search by premium.

To take advantage of the updates log in to the online illustration website, www.ikclife.com.  Once logged in, click on the Wizards tab and select Term Quote Sheet.

Next, enter in the client data.  The new fields in this section are table rating, flat extra, flat extra years, and issue state.

After the client data is entered you'll have the option to search by specified amount or premium.

When searching by specified amount you can pick up to six products to compare.  A specified amount range can also be set to get a better idea of premium amounts.

Once the Run Wizard button is selected output like below will be populated.  This grid shows the calculated premium based on the inputs. 

A new tool to the term quote sheet is the ability to search by premium.  Simpy enter the premium you want to use and after clicking run wizard the death benefit that can be purchased for each product will be calculated.  If you don't want to see all product types you can check the boxes next to the types you want displayed.  For example, if you only want to see the Level Term and Cashback Life products in the output check the Level Term and Cashback Life boxes while leaving the other boxes unchecked.

  

Below is an example of the output when search by premium is used.  You'll notice that if the entered premium isn't enough to purchase coverage for a specific product a message will be shown in the grid.

We hope you find these enhancements beneficial.  Please don't hesitate to contact us if you have any questions or would like to walk through setting up a case on the Term Quote Sheet wizard!

Illustration Development Team

1-800-572-2467 x8162

illustrationhelp@kclife.com

Quick View

Did you know you can quickly see the numbers for your new business case without running the full illustration?  To do so simply click the Quick View (binoculars) icon in the tool bar.  Currently the Quick View option is available on the new business online illustration system and desktop system for all Universal Life plans.

After clicking on the Quick View icon there is a drop down menu where you can choose what interest rate the numbers shown are based on.

By looking at the Quick View you can see how long the illustrations runs, the annualized premium each year as well as the cumulative premium,  income and total income amounts if a loan or withdrawal is on the policy, what the surrender value and accumulated value are, and the specified amount and death benefit.

Have a Great Day,

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

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