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K a n s a s C i t y L i f e I n s u r a n c e C o m pa n y
Life Protector
Like most people approaching or in retirement you are concerned about your future and living within your budget. Because today’s retirees are living longer and spending more years in retirement, you might need to live on your accumulated savings for 30 years or more. This means it’s important to ensure you don’t outlive your assets. At the very least, you want to know you are prepared and have affordable guaranteed 1 coverage for life. Meeting your future financial challenges is possible when backed by a strong company such as Kansas City Life Insurance Company.
1 The policy offers a guaranteed death benefit provided minimum premium requirements are met. Guarantees are based upon the claims-paying ability of the issuer.
Affordable protection. Guaranteed for life. 44 percent of U.S. households said they need more life insurance. Source: LIMRA International, 2004
The permanent protection of a universal life (UL) policy like our Life Protector is guaranteed to be there when you need it and is affordable. The Life Protector provides life insurance coverage to age 120 with low cost, guaranteed long-term life and death benefit protection. The policy’s Guaranteed Death Benefit Rider is automatically issued on all Life Protector policies. There is no cost for this rider, and it guarantees coverage to age 120 as long as the required amount is paid on schedule. Our built-in lapse protection ensures your coverage will not lapse – even if the policy’s cash surrender value falls to zero. Paying this amount will keep your lapse protection balance greater than or equal to zero which will keep the lapse protection feature in effect. The policy’s five year Guaranteed Payment Period benefit is an automatic benefit on all Life Protector policies. There is no cost for this benefit, and it guarantees coverage for the first five years following the policy date as long as the required premiums are paid on schedule. If the guaranteed monthly premium requirement is not met, the guaranteed payment period will terminate and may result in the payment of premiums significantly higher than the premiums required to satisfy the guaranteed payment period. Paying only the required premiums to satisfy the guaranteed coverage to age 120 or the five year guaranteed payment period may result in you foregoing the advantage of building up a significant cash surrender value.
No worries. Life Protector has a set payment plan so you know exactly how much it will cost each year. By budgeting for the payments, you won’t be worried about losing this valuable protection. In addition, Life Protector builds a cash value that can be withdrawn or borrowed against if an emergency 2 arises .
Forty-one percent of adult Americans have individual life insurance. Many rely on group insurance that is not portable. Source: LIMRA International, 2004
Unlike term life insurance, this policy can be funded to provide guaranteed coverage no matter how long you live. In this way, the Life Protector provides confidence that your purposes can be fulfilled – whether that purpose is estate preservation, estate creation or just providing liquidity so heirs do not have to sell property on short notice. Knowing finances are guaranteed to be there when needed provides tremendous peace of mind.
2 Withdrawing from, or borrowing against, the policy’s cash value could negatively impact the death benefit guarantee.
Choose a guaranteed coverage period. The Life Protector from Kansas City Life Insurance Company is designed to ensure continued coverage when you need it – for as long as you need it. This is an example of the level premium needed to guarantee $100,000 of insurance to age 120.
Coverage to Age 120 Preferred Nontobacco User Male, age 60
$1,776 annually
$148 per month
Female, age 58
$1,392 annually
$116 per month
The flexibility of the Life Protector allows you to design a guaranteed coverage period that best fits your needs. For example, you may need guaranteed coverage for a limited period to cover a specific need or purpose such as paying off a mortgage. Here is what a level premium would be to guarantee $100,000 of insurance coverage for 30 years.
Coverage for 30 Years 3 Preferred Nontobacco User Male, age 60 Female, age 58
$1,368 annually $114 per month $ 960 annually
$ 80 per month
3 Premiums noted above must be paid when due to guarantee coverage for 30 years. Coverage will cease after 30 years. Your Kansas City Life representative can provide a personalized quote for your desired coverage.
More Flexibility. You can customize your policy in other ways, including two death benefit options. Choose the option that fits your needs. You may be eligible to switch if your needs change. Generally, death benefit proceeds are paid income tax-free to your beneficiaries.
Option
A
Level Death Benefit Death Benefit Specified Amount
Option
B
Increasing Death Benefit
Option A offers a level death benefit. The death benefit equals the specified amount less any indebtedness such as a reduction because of a policy loan balance. This level death benefit combines a decreasing net amount at risk – the pure insurance protection – with an increasing accumulated value. With Option B, your death benefit is equal to your specified amount plus any accumulated value less indebtedness. The net amount at risk is equal to the specified amount and remains level. This option helps to maximize death benefits. The death benefit increases as the accumulated value builds.
Life Protector lets you customize your UL 4 plan to your needs with optional riders . • Accidental Death Benefit Rider – provides an additional payment in the event of accidental death prior to age 70. • Disability Payment of Premium Rider – provides for the payment of premiums in the event of the insured’s total disability prior to age 60. • Living Benefits Rider – provides for prepayment of up to 100 percent of the death benefit in the event of the insured’s terminal illness or nursing home confinement. A policy like the Life Protector produces a death benefit that is generally free from income taxes, and this policy builds up cash value that you can borrow or take a partial withdrawal from to pay for 5 expenses you hadn’t anticipated . If you borrow against the policy, you can pay it back with a low, guaranteed interest rate.
4 These riders may not be available in all states. 5 If you borrow against the policy or take a partial withdrawal, the guarantees of the policy could be adversely affected.
Coverage you can count on
The financial strength and integrity of Kansas City Life back our Life Protector policy. A promise of financial security is only as good as the company that makes it. When Kansas City Life makes a promise, we stand behind it. Since 1895, we have assisted policyowners through world wars, the Great Depression and various periods of recession and inflation. Kansas City Life’s reputation is built on integrity, sound investment strategies, and honest business practices. To us, integrity is not an outdated notion in today’s fast-paced world. It is the guiding force behind every decision we make. Every product we sell is backed by more than 115 years of quality service and financial security.
Coverage described is a Life Protector Universal Life insurance policy, Policy Form J178-MA, with Guaranteed Death Benefit Rider, Form R221-MA, Accidental Death Benefit Rider, Form R102-M, Accelerated Death Benefit Rider, Form R160-K, Children’s Term Insurance Rider, Form R207-MA, and Disability Payment of Premium Rider, Form R191, all issued by Kansas City Life Insurance Company (Home Office: Kansas City, MO). Contract form and form numbers may differ in some states.
Security Assured.
3520 Broadway Kansas City, MO 64111 816-753-7000 www.kclife.com
2061-MA
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