Comprehensive Kansas City Life Insurance Review

Kansas City Life insurance, a public company with over 500,000 policyholders from coast to coast, operates in 48 states and the District of Columbia. Its agency has more than 2,500 representatives and  a staff of over 400 who provide support to both field agents and policyholders.

Kansas City Life Group was chartered on May 1, 1985 as Bankers Life Association and Kansas City Life Group which includes the following companies: 

• KC Life Insurance Company
• Old American Insurance Company
• Sunset Life Insurance Company of America, and
• Sunset Financial Services, Inc. (A wholly owned subsidiary of Kansas City Life Insurance Company)

Kansas City Life Insurance provides the following services:

• Individual Life Insurance Products
• Annuity and Group Products Through General Agencies
• Variable Life Insurance and Variable Annuity Options, and Mutual Funds via Sunset Financial Services Inc.

This group also offers a variety of insurance types such as life insurance, dental insurance and vision insurance and specializes in group term life and voluntary life.

In conclusion, financial ratings are given by companies which specialize in analyzing the stability of life insurers for your protection.

Big life insurance companies generally have long histories and solid financial ratings.This can inspire confidence that they’ll remain in business as long as your policy is in effect — which could be 30 years or more. Nerd Wallet, Comparing the 20 Largest Life Insurance Companies 

Kansas City Life Insurance is very secure financially and holds a respectable ranking. 

According to A.M. Best, as of July 2016, the financial rating for Kansas City Life Insurance Company was: –A (Excellent)

There are a total of 13 ratings in use by A.M Best ranging from A++ (Superior) to D (Poor).

A.M. Best states the company’s overall performance is excellent and its future outlook is thought to be stable over the long term.

In summary, Kansas City Life Insurance is an excellent choice and policyholders can rest easy that the future financial prospects of this company are strong. 

What I like about Kansas City Life is that they have a number of choices for term policies which include:

• Choice Term 20: The minimum policy amount is $250,000 and minimum purchase age is 18. Premiums do not change.
• Level Term Insurance: For terms of 10, 15, 20 and 30 years. 
• Level Advantage Term: For terms of 10, 15, 20 and 30 years.

*All term plans come with a conversion option. 

An insurance policy in which the insurer is required to renew or update the policy regardless of the insured’s health. An insurance policy with this type of provision allows the insured to switch to a different type of policy without submitting to a physical examination. Investopedia, Conversion Privilege

Universal life is more flexible than Whole life, because you have more options to manage your policy.

Kansas City Universal life provides greater control over premiums and offers adjustable coverage. This enables you to adjust your death benefits and increase or decrease your premiums. You can also change the frequency of your payments or even stop them altogether for a period of time. 

Interest rates are also guaranteed to never fall below the rate specified in your policy. 

You can also direct your premiums into an indexed account based on the S&P 500 for a 1 year period. You have 2 choices of index accounts and each has a different limit.

Sunset Financial Services Inc provides a variable life insurance product series that is generally available through prospectus only.

Whole life is a much more conservative form of permanent life insurance. This policy is generally popular for those who are averse to risk. 

Premiums are guaranteed for the life of the policy. Death benefits are also guaranteed, but you have no options in regard to changing your premiums or the amount of death benefits.

You simply select the amount of coverage and pay the assessed premium according to schedule. 

We at Huntley Wealth strongly advocate that whole life insurance only works for a very small percentage of the population. In most cases we recommend that clients buy term and invest the rest. 

Forty years ago, whole life insurance made a lot of sense as an investment vehicle. Today, it’s as outdated as disco, hula hoops and pet rocks. Tony Steuer, The Case Against Whole Life Policies

Kansas Life Insurance offers a variety of annuities. These policies are available through Sunset Financial Services Inc.

An annuity is a long term investment that provides guaranteed income payments for life. There are 2 types of annuities you can choose which include:

• Fixed Annuity – which guarantees a fixed rate of interest and variety of payout options
• Variable Annuity – allows you to choose from a variety of investment and payout options

You can also select beneficiary options so you can determine who will receive funds upon your death.

A Return of Premium (“ROP“) Rider is available for Term life insurance policies only. ROP options through Kansas City Life Insurance are available for 20 and 30 year terms. 

Both provide full return of premium benefits upon expiry. You can also opt for a non-forfeiture provision which allows you to continue your life insurance coverage without further cash outlay.

There are other types of life insurance riders available including:

• Income Insured Option
• Terminal Illness Rider
• Waiver of Premium
• Accidental Death Benefit
• Spouse’s or Children’s Rider

Wow! This company really does provide an impressive array of life insurance products.