Knights of Columbus Insurance
The Knights of Columbus has assured the welfare of its members since 1882 (over 125 years). It ranks in the top 5% of the approximately 2,000 insurance companies throughout North America. It has once again received the highest possible ratings from A.M. Best (A++ Superior) and Standard & Poor’s (AAA Extremely Strong), and is a member of the Insurance Marketplace Standards Association (IMSA) which is reserved only for those insurance companies that conduct business by the highest ethical standard.
Insurance (Last Updated: 7/12/08)
Knights of Columbus insurance products include the following.
In addition, the “20-Pay Life” plan for children is paid in full in 20 years and has built-in benefits that give each insured child the option to buy the same amount of insurance six times (from age 25 to 40) regardless of their occupation or their physical condition. This plan is available to members’ children or grandchildren from birth to age 18.
Contact our council’s agent James “Jim” T. Mullen, Jr., FICF, CSA at 373-0372 or mullen343@aol.com for a custom-tailored needs analysis, so that you will know exactly where you stand. Jim is a brother knight and an experienced, knowledgeable KofC field agent.
Annuities (Last Updated: 7/12/08)
The Knights of Columbus provides members and their spouses with one of the finest annuity products on the market today. With a guaranteed minimum of 3% interest for money deposited to a new annuity, you get a competitive interest rate along with the exceptional safety and security our members have come to expect from the Knights of Columbus. For those who have an annuity with a minimum of 3.5%, you will continue to receive that guaranteed minimum rate. There are no management fees or expenses. The Knights of Columbus can also accept direct rollovers from 401K’s, IRA and ROTH-IRA transfers from other institutions, or regular after-tax savings such as CD’s, mutual funds, etc. that may be earning low rates. The current rate as of this update is 4.5% for amounts of $300 up to $10,000, and 4.75% for amounts of $10,000 and more.
And if you or your spouse maxed out your annual contributions to your IRA, keep in mind that our Order’s highly regarded Paid-up at Age 65 plan can be an excellent supplement to your retirement income needs with no income limitations and guaranteed paid-up insurance for life.
Contact our council’s agent James “Jim” T. Mullen, Jr., FICF, CSA at 373-0372 or mullen343@aol.com if you would like to make additional contributions to your existing annuity or if you would like to get on the path to financial security by starting an annuity or a Paid-up at Age 65 plan with the Knights of Columbus. Jim is a brother knight and an experienced, knowledgeable KofC field agent.
Long-Term Care (Last Updated: 7/12/08)
Knights of Columbus Long-Term Care Insurance offers multiple options, from plans that cover only nursing home costs, to assisted living, to all-encompassing plans that include at-home care costs, so you can choose the plan and protection best suited for you. You select the amount and length of coverage. Better still, if you’re married, your premium is discounted, and if you and your spouse are approved, the discount is even greater. So you can safeguard your assets and the care you’ll need when you’ll need it. As of February 1, 2008, the Delaware State Insurance Commissioner has approved the Knights starting age for Long-Term Care to move from 40 to 30 years of age. And the daily rate has increased from $250 daily to $400 daily. To put long-term care premiums into perspective, a Brother Knight or his wife at age 30 can pay premiums for a long-term care policy for 50 years to age 80, and still pay less than a 70 year old paying 10 years to age 80. At current prices as of this update, a person could pay premiums for a long-term care policy for 20 years at any age and still not have paid what it costs for one year in many nursing homes.
Contact our council’s agent James “Jim” T. Mullen, Jr., FICF, CSA at 373-0372 or mullen343@aol.com for a custom-tailored needs analysis, so that you will know exactly where you stand. Jim is a brother knight and an experienced, knowledgeable KofC field agent.
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