The right protection from the right company This brochure gives an overview of the benefits provided by the Living Benefits Rider. Hopefully, you’ll never need them. But if
You can take comfort in knowing that your coverage is backed by a company in business since 1895. Kansas City Life’s reputation is built on integrity, sound investment strategies and honest business practices. We stand behind every promise we make – as we have for more than 115 years. You can count on us to be here when you need us – now and in the years to come.
you do, contact your Kansas City Life agent or the Home Office for information and assistance.
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
The coverage described is for the Living Benefits Rider from Kansas City Life Insurance Company (Home Office: Kansas City, Mo.). Rider form R181. Form number may differ by state. Coverage is not available in all states.
Remember, we’ll be with you,
Security Assured.
TM
we’re Kansas City Life.
Living Benefits Rider
3520 Broadway Kansas City, MO 64111 816-753-7000 www.kclife.com
7288
Flexible access for sudden needs
5.12S
While there may be many reasons to buy life insurance, most of them eventually come down to one – the desire to provide cash funds for survivors. But in the case of a terminal illness or a long nursing home stay, sometimes funds are needed before death occurs. Kansas City Life Insurance Company's Living Benefits Rider offers this alternative. And, it adds an extra measure of flexibility and liquidity to your policy.
Here’s how it works The Living Benefits Rider (LBR) may be added to most Kansas City Life Insurance Company universal life policies at the time of application. There is no premium cost to add this rider. There are two options under which the insured may qualify for benefits.
n Terminal illness option
The insured must be certified by a licensed physician as having a terminal condition that is expected to end in death within a 12-month period. The owner has the option of requesting prepayment be made in a lump sum or equal monthly payments for 12 months.
n Nursing home option
The insured must receive care in an eligible nursing home and meet a six-month nursing home confinement elimination period before benefits can begin. Usually, payouts will be in the form of a certain period annuity.
Benefit amount The owner may request that up to 100 percent of the death benefit payable under the policy, less any indebtedness and not to exceed $250,000, be designated as the amount of available proceeds under the rider. The benefit base is equal to the available proceeds the owner elects to place under the rider, reduced to reflect the present value of the available proceeds that
would otherwise be payable at the time of death. The benefit base is used to calculate a monthly benefit payable. If monthly benefit payments occur, the unpaid amount will earn interest. At death, if all payments have not been made, the present value of the remaining payments and any death benefit remaining from the policy will be paid to the beneficiary. A processing fee, which currently is being waived, may apply at the time a claim for benefits is made. Ask your agent for complete details.
Policy adjustment When a claim is filed under this rider, the policy values, including the specified amount, accumulated value and premiums, will be reduced by the percentage of the available proceeds the owner elects to place under the LBR. If less than the full death benefit is elected for prepayment, the adjusted death benefit remains available for an additional LBR benefit or future death benefit.
Tax considerations Under current law, life insurance proceeds pass to beneficiaries income-tax free. At the present time, benefits prepaid under the LBR are treated the same as life insurance proceeds for tax purposes. We recommend you consult with a tax advisor to verify tax treatment prior to filing a claim under this rider.
While there may be many reasons to buy life insurance, most of them eventually come down to one – the desire to provide cash funds for survivors. But in the case of a terminal illness or a long nursing home stay, sometimes funds are needed before death occurs. Kansas City Life Insurance Company's Living Benefits Rider offers this alternative. And, it adds an extra measure of flexibility and liquidity to your policy.
Here’s how it works The Living Benefits Rider (LBR) may be added to most Kansas City Life Insurance Company universal life policies at the time of application. There is no premium cost to add this rider. There are two options under which the insured may qualify for benefits.
n Terminal illness option
The insured must be certified by a licensed physician as having a terminal condition that is expected to end in death within a 12-month period. The owner has the option of requesting prepayment be made in a lump sum or equal monthly payments for 12 months.
n Nursing home option
The insured must receive care in an eligible nursing home and meet a six-month nursing home confinement elimination period before benefits can begin. Usually, payouts will be in the form of a certain period annuity.
Benefit amount The owner may request that up to 100 percent of the death benefit payable under the policy, less any indebtedness and not to exceed $250,000, be designated as the amount of available proceeds under the rider. The benefit base is equal to the available proceeds the owner elects to place under the rider, reduced to reflect the present value of the available proceeds that
would otherwise be payable at the time of death. The benefit base is used to calculate a monthly benefit payable. If monthly benefit payments occur, the unpaid amount will earn interest. At death, if all payments have not been made, the present value of the remaining payments and any death benefit remaining from the policy will be paid to the beneficiary. A processing fee, which currently is being waived, may apply at the time a claim for benefits is made. Ask your agent for complete details.
Policy adjustment When a claim is filed under this rider, the policy values, including the specified amount, accumulated value and premiums, will be reduced by the percentage of the available proceeds the owner elects to place under the LBR. If less than the full death benefit is elected for prepayment, the adjusted death benefit remains available for an additional LBR benefit or future death benefit.
Tax considerations Under current law, life insurance proceeds pass to beneficiaries income-tax free. At the present time, benefits prepaid under the LBR are treated the same as life insurance proceeds for tax purposes. We recommend you consult with a tax advisor to verify tax treatment prior to filing a claim under this rider.
While there may be many reasons to buy life insurance, most of them eventually come down to one – the desire to provide cash funds for survivors. But in the case of a terminal illness or a long nursing home stay, sometimes funds are needed before death occurs. Kansas City Life Insurance Company's Living Benefits Rider offers this alternative. And, it adds an extra measure of flexibility and liquidity to your policy.
Here’s how it works The Living Benefits Rider (LBR) may be added to most Kansas City Life Insurance Company universal life policies at the time of application. There is no premium cost to add this rider. There are two options under which the insured may qualify for benefits.
n Terminal illness option
The insured must be certified by a licensed physician as having a terminal condition that is expected to end in death within a 12-month period. The owner has the option of requesting prepayment be made in a lump sum or equal monthly payments for 12 months.
n Nursing home option
The insured must receive care in an eligible nursing home and meet a six-month nursing home confinement elimination period before benefits can begin. Usually, payouts will be in the form of a certain period annuity.
Benefit amount The owner may request that up to 100 percent of the death benefit payable under the policy, less any indebtedness and not to exceed $250,000, be designated as the amount of available proceeds under the rider. The benefit base is equal to the available proceeds the owner elects to place under the rider, reduced to reflect the present value of the available proceeds that
would otherwise be payable at the time of death. The benefit base is used to calculate a monthly benefit payable. If monthly benefit payments occur, the unpaid amount will earn interest. At death, if all payments have not been made, the present value of the remaining payments and any death benefit remaining from the policy will be paid to the beneficiary. A processing fee, which currently is being waived, may apply at the time a claim for benefits is made. Ask your agent for complete details.
Policy adjustment When a claim is filed under this rider, the policy values, including the specified amount, accumulated value and premiums, will be reduced by the percentage of the available proceeds the owner elects to place under the LBR. If less than the full death benefit is elected for prepayment, the adjusted death benefit remains available for an additional LBR benefit or future death benefit.
Tax considerations Under current law, life insurance proceeds pass to beneficiaries income-tax free. At the present time, benefits prepaid under the LBR are treated the same as life insurance proceeds for tax purposes. We recommend you consult with a tax advisor to verify tax treatment prior to filing a claim under this rider.
The right protection from the right company This brochure gives an overview of the benefits provided by the Living Benefits Rider. Hopefully, you’ll never need them. But if
You can take comfort in knowing that your coverage is backed by a company in business since 1895. Kansas City Life’s reputation is built on integrity, sound investment strategies and honest business practices. We stand behind every promise we make – as we have for more than 115 years. You can count on us to be here when you need us – now and in the years to come.
you do, contact your Kansas City Life agent or the Home Office for information and assistance.
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
The coverage described is for the Living Benefits Rider from Kansas City Life Insurance Company (Home Office: Kansas City, Mo.). Rider form R181. Form number may differ by state. Coverage is not available in all states.
Remember, we’ll be with you,
Security Assured.
TM
we’re Kansas City Life.
Living Benefits Rider
3520 Broadway Kansas City, MO 64111 816-753-7000 www.kclife.com
7288
Flexible access for sudden needs
5.12S
The right protection from the right company This brochure gives an overview of the benefits provided by the Living Benefits Rider. Hopefully, you’ll never need them. But if
You can take comfort in knowing that your coverage is backed by a company in business since 1895. Kansas City Life’s reputation is built on integrity, sound investment strategies and honest business practices. We stand behind every promise we make – as we have for more than 115 years. You can count on us to be here when you need us – now and in the years to come.
you do, contact your Kansas City Life agent or the Home Office for information and assistance.
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
The coverage described is for the Living Benefits Rider from Kansas City Life Insurance Company (Home Office: Kansas City, Mo.). Rider form R181. Form number may differ by state. Coverage is not available in all states.
Remember, we’ll be with you,
Security Assured.
TM
we’re Kansas City Life.
Living Benefits Rider
3520 Broadway Kansas City, MO 64111 816-753-7000 www.kclife.com
7288
Flexible access for sudden needs
5.12S