Important Underwriting and New Business Updates

An Important Update from Ray Caucci, Senior Vice President, Product Management and Underwriting and Gretchen Dinucci, Vice President and Chief Underwriter

Throughout the rapidly evolving pandemic, we have been evaluating our underwriting and new business practices continuously to support business continuity, deliver a consistently high level of service and maintain our financial strength. We have been working closely with our key strategic partners, including the reinsurers, to effectively navigate the risks associated with the pandemic.

As a result, effective at the close of business today, Thursday, April 2, 2020, we are implementing the following temporary changes to our life insurance underwriting and new business guidelines for all cases not already approved or issued as noted on InSight.

  • Postponing any applications on individuals with an insurance age 70 and older
  • Postponing any applications on individuals of any age rated worse than a Table Four
  • Suspending acceptance of funds from external replacements in excess of $250,000 gross cash value
  • Suspending the following programs until we have clarity on the pandemic’s impact:
    • Table Four to Standard Fold In Program
    • Survivorship Whole Life Rate Class Upgrade
    • Lifestyle Credit Program

We are making these changes after careful consideration of the potential business disruption. We expect to re-visit these and other changes as we gain better insight into the impact of the COVID-19 pandemic.

As a mutual company, we have always taken the long-term view in service to our policyholders’ best interests, and we continue to do so today. We remain committed to maintaining a prudent, long-term approach as we navigate the COVID-19 pandemic — with a continued focus on delivering on our promises to policyholders and financial professionals.

Thank you for your flexibility and understanding as we all continue to adapt to changing conditions.

If you have questions, please contact your KAFL brokerage manager.

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