United States
Securities and Exchange Commission
Washington, D. C. 20549
Form 11-K
x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year ended December 31, 2006
OR
o TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _____
Commission File Number 2-40764
Kansas City Life Insurance Company Savings and Profit Sharing Plan
A. (Full Title of the Plan)
Kansas City Life Insurance Company
3520 Broadway
Kansas City, Missouri 64111-2565
B. (Name and Address of Issuer of Securities Held Pursuant to the Plan)
Required Information
Pursuant to the section of the General Instructions to Form 11-K entitled "Required Information," this Annual Report on Form 11-K for the fiscal year ended December 31, 2006, consists of the audited financial statements of the Kansas City Life Insurance Company Savings and Profit Sharing Plan for the year ended December 31, 2006, and the related schedule thereto. The Kansas City Life Insurance Company Savings and Profit Sharing Plan is subject to the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and in accordance with Item 4 of the section of the General Instructions to Form 11-K entitled "Required Information," the financial statements and schedule furnished herewith have been prepared in accordance with the financial reporting requirements of ERISA, in lieu of the requirements of Items 1-3 of that section of the General Instructions. Schedules I, II and III are not submitted because they are either not applicable, the required information is included in the financial statements or notes thereto, or they are not required under ERISA.
Kansas City Life
Insurance Company
Savings and Profit Sharing Plan
Financial Statements
and
Supplemental Schedules
2006
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Statements of Net Assets Available for Benefits.................. |
2 |
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Statement of Changes in Net Assets Available for Assets...... |
3 |
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Notes to Financial Statements........................................ |
4 |
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Supplemental Schedules................................................. |
9 |
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Report of Independent Registered Public Accounting Firm |
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KANSAS CITY LIFE INSURANCE COMPANY | ||||||||
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SAVINGS and PROFIT SHARING PLAN | ||||||||
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STATEMENTS of NET ASSETS AVAILABLE for BENEFITS | ||||||||
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(amounts in thousands) | ||||||||
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December 31 | ||||
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2006 |
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2005 | ||
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Assets |
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Investments, at fair value: |
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Participant directed: |
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Mutual funds |
$ |
26,824 |
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$ |
22,547 | |
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Guaranteed interest contract |
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10,102 |
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6,858 | |
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Kansas City Life Insurance Company common stock |
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2,503 |
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2,929 | |
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Non-participant directed: |
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Kansas City Life Insurance Company common stock |
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29,438 |
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32,064 | |
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Participant loans |
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1,404 |
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1,469 | |
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Total investments |
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70,271 |
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65,867 |
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Cash |
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940 |
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270 | ||
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Total assets |
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71,211 |
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66,137 |
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Liabilities |
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Payable to Kansas City Life Insurance Company |
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(912) |
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- | |||
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Net assets available for benefits, at fair value |
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70,299 |
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66,137 |
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Adjustment from fair value to contract value for fully benefit-responsive investment contract (Note 2) |
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25 |
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12 | |||
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Net assets available for benefits |
$ |
70,324 |
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$ |
66,149 |
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See accompanying Notes to Financial Statements. | ||||||||
2
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KANSAS CITY LIFE INSURANCE COMPANY | |||||||||||||
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SAVINGS and PROFIT SHARING PLAN | |||||||||||||
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STATEMENT of CHANGES in NET ASSETS AVAILABLE for BENEFITS | |||||||||||||
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(amounts in thousands) | |||||||||||||
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Year ended December 31, 2006 |
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Non- |
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Participant |
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participant |
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directed |
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directed |
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Total |
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Additions to net assets attributed to: |
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Investment income: |
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Interest income |
$ |
446 |
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$ |
- |
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$ |
446 |
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Interest from participant loans |
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- |
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75 |
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75 |
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Dividend income |
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863 |
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654 |
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1,517 |
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Net appreciation in fair value of investments |
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2,189 |
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75 |
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2,264 |
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Net investment income |
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3,498 |
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804 |
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