Caring
for you and yours...
Through All the Seasons of your Life.
Protecting
family financial security has been part of the
Knights of Columbus mission since we were founded
in 1882. We've since grown to over $61.5 billion
of insurance in force and we've received the
highest ratings from A.M.
Best (A++) and Standard
& Poor's (AAA) and certification
of ethical business practices from the Insurance
Marketplace Standards Association.
Your K of C
field agent is an insurance professional who's
also a Brother Knight. He can provide you with
information about Knights of Columbus Care. He
can also provide illustrations of what it would
cost you to protect yourself and your family in
your time of need.
Knights of
Columbus Care is offered exclusively to Knights
and their families.
Schedule a
meeting with your K of C agent... and you'll see
why the Knights of Columbus has been protecting
families for generations.
Volunteer
Service and Insurance
 As the
Order has grown, its benevolence has multiplied.
The Order continues to break all previous records
for charitable contributions and volunteer
service. In the past decade, the Knights donated
nearly $1 billion to numerous charitable causes
and nearly 400 million hours of volunteer
service. In 2006 alone, the Knights donated an
all-time high of more than $144 million and over
68 million volunteer hours to charitable causes.
Father McGivney's founding
vision for the Order also included establishing a
life insurance program to provide for the widows
and orphans of deceased members. The Order's
insurance program has expanded substantially to
serve more effectively the Knights' growing
membership. Year after year, the Knights of
Columbus has earned the highest possible quality
ratings for financial soundness from A.M.
Best and Standard
& Poor's, and certification of
ethical business practices from the Insurance
Marketplace Standards Association. The
Order provides the highest quality insurance and
annuity products to its members, along with many
other fraternal benefits.
Long Term
Care
 Insurance
for long term care is increasingly beneficial as
people live longer and require either limited
assistance or nursing home care in greater
numbers. Custodial services such as bathing,
eating and dressing are not generally covered by
Medicare, and nursing home care can cost upwards
of $45,000 per year. These financial realities
may force you to deplete assets or to rely on
your family for help. If you require nursing
care, you might have to ask your children for
help just when they're ready to send their own
sons or daughters off to college -- a common
dilemma among middle-aged people today which
causes experts to refer to them as "the
sandwich generation".
Knights
of Columbus Care can give you peace of mind.
This is a tax-qualified plan available to members
and their spouses, ages 40 through 85 (subject to
underwriting requirements). Coverage can be
tailored to your needs, giving you control over
the type of coverage; the daily benefit amount,
benefit duration, and elimination period; and the
premium you must pay. The policy is guaranteed to
be renewable, and a guaranteed purchase option
assures you of obtaining added coverage as
needed.
 Four
Kinds of Life Insurance
Different
people in different situations have different
insurance needs. Accordingly, the Knights of
Columbus offer four different types of insurance
to its members through its as professional sales
force, described below.
WHOLE LIFE
INSURANCE
Whole life
insurance guarantees you a minimum death benefit
throughout the course of your life, provided that
you pay the required premiums. Typically, the
premiums remain level for the life of the
insured. Whole life insurance usually requires
premiums to be paid for as long as the insured
lives, but some cash value policies require
premiums for a shorter period, such as 20 years
or until age 65. Premiums for these policies will
be higher, since the premiums will be paid for
fewer years.
 Whole life
insurance builds cash value. Whole life
insurance, unlike term insurance, also can earn
dividends as early as the policy's third
anniversary. These dividends, which cannot be
guaranteed, can be paid in cash, or they can
reduce the amount of premium you pay. They can
also be kept with the Knights of Columbus to earn
interest or they can be used to purchase
additional insurance.
The
advantage of whole life insurance is that the
policy, if kept current, covers you for your
entire life, as opposed to term insurance that
covers you only for a term of years. Whole life
insurance also accrues a cash value that can be
used in a variety of ways.
TERM INSURANCE
Term
insurance pays a death benefit to your family if
you should die during the term of the policy.
terms of coverage vary, and some policies allow
you to renew the policy at the end of a given
period. Depending on the policy, your term
insurance premium rates will often increase at
each renewal date, but renewal will generally be
guaranteed up to a certain age. Term insurance
can usually be converted to a cash value policy.
THE DISCOVERER
PLAN
 The
Discoverer combines whole life insurance with
term insurance. Over the course of the policy,
the term insurance is converted to whole life
insurance. Like Knights whole life policies, the
Discoverer builds cash value and earns dividends.
These dividends convert the term insurance into
permanent, whole life coverage.
ANNUITIES
An annuity
is a contract for which you pay
premiums—either a single premium or a series
of premiums—in return for future periodic
payments. Annuity contracts can be flexible in
the number, amount and frequency of premiums, and
the manner and amount in which payments will be
made to you later.
The Knights
of Columbus offers a number of annuity options.
Our flexible premium annuity allows you to pay
either a single premium or multiple premiums, and
determine the amount and frequency of premium
payment. You can also choose deferred periodic
payments or a lump sum payment. The interest
rates on this annuity are subject to change on a
quarterly basis, which allows the Knights of
Columbus to maintain competitive rates. The
Knights also offer a single premium immediate
annuity that is funded by a single premium
payment and provides immediate periodic payments.
Under one version of this plan, a husband and
wife can receive immediate payments, with reduced
payments continuing for the life of the surviving
spouse.
Why Do You
Need Insurance?
MORTGAGE PROTECTION
A house is more than just a
"house," isn't it? If you've laughed in
it, cried in it, and lived in it, it's a home—your
home. If something should happen to you, will it
remain with those who have shared it with you? A
life insurance plan can assure that your home
stays with your loved ones.
FAMILY INCOME
You have worked hard to bring you
family's standard of living up to where it is.
You shouldn't be willing to give that up—no
matter what. They say "you can't take it
with you," but earning capacity goes when
you do! There is a way to guarantee that they
will never have to sacrifice that standard of
living, whether you are here or not. Life
insurance.
EDUCATION FUNDS
Few things concern parents today
more than helping their children get a college
education. If costs continue to rise, a private
university's annual cost may exceed $30,000 by
the year 2005! Money like that can be hard to
come by. What can you do about it? Make sure your
children have the same opportunities for
education whether you live or die.
RETIREMENT
RESOURCES
Thought about retiring lately? When
you do, figure out how much money you'll have.
Then think about a life insurance plan that will
provide more. Retirement benefits such as Social
Security are nice, but do you know how much
you'll get? Pensions are a plus, but will they be
enough? Supplemental income is usually necessary.
EMERGENCY FUNDS
The furnace breaks. The car goes on
the blink. The roof leaks. Someone in the family
becomes ill. Everyday occurrences in households
all over the country. What do you do? Life
insurance can help. The cash and loan values of a
whole life policy are available to you when
emergencies happen. Or even to provide cash for
some other event.
FINAL EXPENSES
The unfortunate truth is that the
last thing you'll do on this earth is create a
debt that you won't be around to pay. Final
expenses may include burial costs, unpaid bills,
and excess hospital bills over health insurance
payments. The emotional drain on your family
should not be aggravated by concern about money.
Not if you can help it. And you can.
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