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Life Protector Universal Life
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 coverage for life1. 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. Fifty percent of U.S. households said they need more life insurance. Source: LIMRA International, 2010
The permanent protection of a universal life (UL) policy like our Life Protector Universal Life is guaranteed to be there when you need it and is affordable. The Life Protector Universal Life provides life insurance coverage to age 120 with guaranteed long-term life and death benefit protection. The policy’s Guaranteed Death Benefit Rider is automatically issued on all Life Protector Universal Life policies. There is no cost for this rider, and it guarantees coverage to age 120 as long as the required premiums are paid on schedule. Our builtin lapse protection ensures your coverage will not lapse – even if the policy’s cash surrender value falls to zero.
No worries. Life Protector Universal Life 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 In addition, Life Protector Universal Life builds a cash value that can be withdrawn or borrowed against if 2 an emergency arises .
Forty-four percent of adult Americans have individual life insurance. Thirty-five million adults have no coverage. Source: LIMRA International, 2010
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 Universal Life 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 Universal Life 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
$1,879 annually
$161 per month
Female, age 58
$1,454 annually
$125 per month
The flexibility of the Life Protector Universal Life 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
$1,415 annually $122 per month $ 977 annually
$ 85 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 Universal Life lets you customize your UL plan to your needs with optional riders4. • 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. • Income Assured Option – provides an income stream as a death benefit and allows the policyowner to maximize the beneficiary’s benefit payout amount. • Living Benefits Rider – provides for the prepayment of up to 100 percent (up to $250,000) of the death benefit in the event of the insured’s terminal illness or nursing home confinement. • Children’s Term Insurance – provides level term insurance on each of the insured’s children ages 14 days to 17 years. A policy like the Life Protector Universal Life 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 5 pay for 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
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.
The coverage described is for the Life Protector Universal Life, a product of Kansas City Life Insurance Company (Home Office: Kansas City, Mo.). Policy form J178, with Guaranteed Death Benefit Rider form R221; optional rider forms R102, R207, R191, R181, M65. Form numbers may differ by state.
Security Assured.
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3520 Broadway Kansas City, MO 64111 816-753-7000 www.kclife.com
2061
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