Protect Those You Love

Coverage for temporary needs with options that allow you to prepare for the future.  A set period of time - 10-30 years. Pay premiums for as long as your coverage lasts. You are taking out life insurance coverage for a set time of your life.  There is no cash value or growth involved.  Death Benefits can be transferred to beneficiaries tax-free.  Death Benefits can be transferred to beneficiaries tax-free. 

Initially, term life insurance premiums are considerably lower than those of permanent life insurance, allowing you to purchase higher levels of death benefit coverage for a temporary period of time. This can be very important to young families that may have a limited budget but a significant need for a larger amount of protection. Term life insurance does not build equity in the form of cash value so it is often described as renting insurance protection rather than owning insurance protection.

Death benefit protectionIf the insured dies within the term period, the insurance company pays a death benefit that can be used to pay for funeral expenses and outstanding debt.

Income protectionA portion of a life insurance death benefit can be used to replace the income that is lost when a loved one dies.

Business insurance needsKey man insurance, Buy/Sell agreements and business loan protection are all popular uses of term life insurance.
Tax advantagesLife insurance death proceeds are paid out income-tax free and the term policy’s benefit is paid out income-tax free, an important feature when you consider how taxation can have an adverse effect on your savings growth potential.

Conversion optionsYou have the ability to convert to a permanent policy should future circumstances require a more permanent life insurance need.
CustomizableThe option to design a policy that reflects your particular needs and situation.

How Does Term Life Insurance Work?
Term Life insurance provides protection for a specific period of time, or “term” and pays a benefit if you die during the term. If the insured lives past the term period most term policies will terminate. The policyholder can choose to continue the policy at a higher premium or the insured may apply for another term or permanent policy.  This type of insurance makes sense when you need coverage for only a specific amount of time – for instance, until your children graduate from college or a particular debt is paid off, such as your mortgage. Many times, a combination of term and permanent insurance can be used to create a solution that meets a policyholder’s unique financial situation.  
For more information, please contact us.

Guaranteed lifetime protection and access to cash value that's guaranteed to grow.  Guaranteed lifetime protection as long as your premiums (flexible, level, or fixed) are paid.  Premiums are guaranteed never to increase and there are options for how often and how long you pay (monthly, quarterly, yearly).  Guaranteed cash value growth that can be accessed when needed. These life insurance benefits accrue tax deferred, allowing you to maximize your savings over time. 

You want insurance that gives you options such as flexible premiums and adjustable coverage while providing the security you need. A Universal Life (UL) product might be just what you are looking for. Your UL policy will provide security today with the cash value growth potential you need for tomorrow.

Whole Life

You want insurance that gives you guaranteed premiums with guaranteed coverage while providing the security you need. A Whole Life product might be just what you are looking for. Your Whole Life policy will provide the security, safety and predictability you need for tomorrow.
Guaranteed premiumsYour premiums are guaranteed for the life of the policy.
Guaranteed death benefitYour benefit never reduces as long as you pay the basic premium.

Builds guaranteed cash valueAccumulates valuable long-term cash values for future needs like college education, paying off your mortgage early, or supplementing your retirement income.

Tax advantagesLife insurance death proceeds are paid out income-tax free to your beneficiary.

Favorable loan featureYou can access your policy’s cash value tax-free through loans, which allows you to maximize your cash needs without sacrificing your life insurance protection.

CustomizableDesign your policy to reflect your particular needs and situation.

How Does Whole Life Insurance Work?Whole Life insurance is a permanent life insurance policy that offers a guaranteed death benefit and builds guaranteed cash values that can be accessed through tax-advantaged policy loans.  You select the amount of coverage that fits your needs. Your premiums on your Whole Life policy will be guaranteed for the life of the policy.  The death benefit of the policy is guaranteed and does not reduce as long as you pay the basic premium. Cash values within the policy are guaranteed to increase and endow at the maturity of the policy.  Many optional riders available to enhance your policy. For more information, please contact us.
*Please note that Kansas City Life Products are available in all states but New York.  New York Residents are offered other insurance company products registered in NY.

Universal Life

Premium flexibilityThe ability to increase or decrease premiums in the future to accommodate your budget or cash flow needs.

Death benefit flexibilityThe option to adjust the policy’s death benefit should your life insurance protection needs change in the future.

Builds cash valueAccumulates valuable long-term cash values for future cash needs such as helping fund a child’s college education, paying off your mortgage early, funding a business opportunity or supplementing retirement income.

Tax advantagesLife insurance death proceeds are paid out income-tax free and the UL policy’s cash values accumulate tax-deferred, an important feature when you consider how taxation can have an adverse effect on your savings growth potential.

Favorable loan featureThe ability to access the UL policy’s cash value tax-free through policy loans allows you to maximize your cash needs without sacrificing valuable life insurance protection. (Loan balances will reduce the death benefit.)

CustomizableThe option to design a UL policy that reflects your particular needs and situation.

How Does Universal Life Work?Interest on the cash in your UL policy is credited each month at a current competitive interest rate. Interest crediting rates will never fall below the minimum amount guaranteed in your UL policy. You select the amount and frequency of your premium payments (subject to specified minimums and maximums).  You also have the ability to increase or decrease the amount of your coverage at any time – without buying a new policy (proof of insurability may be required for increase).  Many policy riders available that allow you to design a life insurance policy that fits your particular needs and budget. For more information, please contact us.  As long as there is adequate cash value to pay policy expenses, you can:

• Increase premiums to accumulate cash value more rapidly or to eliminate premiums in later years
• Decrease premiums when cash flow is a consideration
• Stop premiums for a period of time

Guaranteed Protection Dual Purpose Life Insurance as long as your premiums are paid.  Often setup to pay premiums for ten years or until age 65.  This type of life insurance builds up a cash value and has a death benefit.  Cash value can be accessed when needed after a period of time.  Death Benefits can be transferred to beneficiaries tax-free.

If you’re looking for a product that offers death benefit protection and the opportunity to build long-term cash value accumulation, an Indexed Universal Life (IUL) may fit your needs. An IUL policy will provide security today with the cash value growth potential you need for tomorrow.
Premium flexibilityThe ability to increase or decrease premiums in the future to accommodate your budget or cash flow needs.

Death benefit flexibilityThe option to adjust the policy’s death benefit should your life insurance protection needs change in the future.

Builds cash valueAccumulates valuable long-term cash values for future cash needs such as helping fund a child’s college education, paying off your mortgage early, funding a business opportunity or supplementing retirement income.

Tax advantagesLife insurance death proceeds are paid out income-tax free and the IUL policy’s cash values accumulate tax-deferred, an important feature when you consider how taxation can have an adverse effect on your savings growth potential.

Favorable loan featureThe ability to access the IUL policy’s cash value tax-free through policy loans allows you to maximize your cash needs without sacrificing valuable life insurance protection. (Loan balances will reduce the death benefit.)

CustomizableThe option to design an IUL policy that reflects your particular needs and situation.
When you pay your IUL premium, you have the flexibility to choose between a minimum and maximum amount. The premium goes in to the Fixed Account where premium expenses are deducted. The remainder has the potential to build policy cash value that can be accessed through policy loans and withdrawals**. This account value is allocated between the Fixed Account and Indexed Accounts based on your instructions.  The basics of indexing 

• With an indexed universal life policy, you allocate premium to an Indexed Account, thereby creating an Index Segment and the 12-month Index Period for that segment begins.
• Values remain in the segment for the length of the segment term. Cost deductions or withdrawals may occur.
• At the end of the segment term, each segment earns an Indexed Credit. The Indexed Credit is based on the index change of the S&P 500 during that one- year period and is subject to the limits declared for that segment.
• An Indexed Credit is calculated for a policy segment if value remains in the segment at segment maturity. The amount is calculated subject to the declared limits for the specific segment.
• These limits are determined at the beginning of the Segment Period and are guaranteed for the entire Segment Period.
• There are two choices of Index Accounts and each have a different type of limit. One sets a cap on the Indexed Credit for a segment and is referred to as Annual Point-to-Point with Cap. The other declares the proportion of the change in the index that will determine the Indexed Credit. This is referred to as the Annual Point-to-Point with Participation Rate.  Growth Cap:The growth cap is the maximum that can be credited to an IUL. The growth cap will vary and be reset at the beginning of a segment term.  Participation Rate:The participation rate determines how much of an increase in the S&P 500’s* Index Value applies to the IUL policy.   
• Regardless of which crediting method you choose, your cash value is always protected from negative market performance.
• Money is transferred at least once per quarter. The day that occurs is called a sweep date, and this creates a segment. A segment matures in 12 months. Indexed Credit at maturity is based on change in the S&P 500*.
• With this crediting method the value in the Indexed Account earns an Indexed Credit which is based off of an Index Growth Rate. That growth rate is a percentage change in the current index from the start of a segment until the segment maturity date.
• The Indexed Account constraints are applied to the change in the Index Value to arrive at the Index Growth Rate which is applied to the average balance of the segment provided there is money in the segment at maturity to calculate the Indexed Credit.
• Segments automatically renew for another Index Period unless a transfer is requested. All premiums received since the last sweep date along with any transfer requests may be rolled into the same Index Segment. This means that for any given month, there will be a single segment created for any given Indexed Account.
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Policies also have many policy riders available that would allow you to design a life insurance policy that fits your particular needs and budget. For more information, please contact us.

Final expense insurance can protect your family from the burden of funeral, burial and even medical expenses.
Final expense insurance can protect your family from the burden of final expenses, like funeral, burial and even medical expenses. Continue reading to see when final expense insurance may be right for you.

Final expenses can be difficult to talk about. Yet final expenses can be a major burden to your family and loved ones and compound an already difficult time. Being prepared with final expense insurance is one way to be certain your family won't have to dip into their savings to cover the funeral or burial costs and medical bills you may leave behind.Funeral expenses have not been immune to rising cost. According to The National Funeral Directors Association, the average cost of a funeral has increased more than tenfold since 1960. In 2014, the cost was over $8,500 without flowers or a headstone.

Just about anyone could benefit from a final expense life insurance policy. But for now, let's look at the criteria for individuals who might find this type of insurance especially beneficial based on need, ease of insurability, and cost.

Later in life your family isn't as likely to be as dependent on your income, and you may not be carrying as much life insurance as you did when you were raising a family or paying down a mortgage. Upon your death, all your family may need is readily available cash to pay for funeral, burial, and estate taxes - immediate expenses that could be covered by final expense life insurance. But don't guess; use a life insurance calculator to confirm your estimate.

Many insurance companies can issue final expense life insurance without requiring you to complete a medical exam. Final expense life insurance can be easy to qualify for and simple to understand, and won't be terminated as long as the premiums are paid on time.

Final expense insurance can be affordable and premiums generally will not increase over time. Although the face value (death benefit) is typically smaller than that of a traditional life insurance policy, so are the premiums.  Don't think final expense life insurance is a good fit for you? Think you might need a policy with a larger death benefit or a policy that accumulates cash value? You may want to ask us about term life insurance or permanent insurance such as whole or universal life insurance. These life insurance solutions can offer more flexibility and can be tailored to your unique insurance needs - beyond funeral and burial expenses.
Independent of your profile for final expense life insurance, it is widely accepted that you should have enough insurance to at least cover your final expenses. 

For more information regarding final expense insurance, as well as general information about other policies, call us today at 973-446-6118