What We Offer
The Knights of Columbus is a fraternal benefit society founded in 1882 by a Catholic priest in New Haven, Connecticut. From a small group of Catholic men operating an insurance program on an assessment system, the Knights of Columbus has grown into a "triple-A" insurance society doing business in the 50 states of the United States, the District of Columbia, the 10 provinces of Canada, Puerto Rico, the Virgin Islands, and Guam.
The corporate charter of the Knights of Columbus, granted by the Connecticut General Assembly on March 29, 1882, provides that: "The purposes for which said corporation is formed are the following: (a) of rendering pecuniary aid to its members, their families and beneficiaries of members and their families; (b) of rendering mutual aid and assistance to its sick, disabled and needy members and their families; (c) of promoting social and intellectual intercourse among its members and their families; and (d) of promoting and conducting educational, charitable, religious, social welfare, war relief and welfare, and public relief work."
The Knights of Columbus meets the goals of this charter by sponsoring council activities, by providing assistance to the Catholic Church, by doing charitable work in the communities where we exist, and by offering high-quality, individual life insurance to its members and families.
Father Michael J. McGivney - our founder - recognized and believed that the people of his day needed the protection that a life insurance program would bring. He wanted to guarantee that the Catholic widow and children of his time would be able to sustain the loss of their breadwinner, and continue with a life not afflicted with poverty and despair.
Today, 115 years later, the Knights of Columbus goal remains the same: protection of the Catholic families that choose membership in our Order.
In the days of Father McGivney, the insurance feature was a rudimentary system of collecting money and distributing benefits. Today it encompasses more than $31 billion of life insurance in force, with more than 1.3 million individual policies. A professional and knowledgeable agency field force numbering 1,350 brings the program to the home of every eligible Knight, tailoring a plan of life insurance coverage to meet his family's individual needs.
The Knights of Columbus insurance program has provided peace of mind to millions of men and women for more than a century. The continuing growth of the number of policies and the insurance in force is a testament to the confidence members have in the Order's ability to provide protection for them today, and well into the future.
PRODUCTSWe offer our members and their families permanent life insurance, term insurance, and annuities. The permanent life and term products are participating plans - plans that are dividend-paying - and include:
In addition, term insurance riders are offered. We also sell a policy called the Discoverer, consisting of whole life insurance and an additional protection benefit (term insurance). Special rates for nonsmokers on all life certificates make these plans even more attractive.
The Knights of Columbus sells its insurance to its members, wives of members, and dependents. It is sold through a career sales force that currently consists of more than 1,350 full-time professionally trained field agents.
These agents are equipped with one of the most modern computer programs available. It enables them to perform a needs analysis of the member and his family. This needs analysis allows the agent and the Knight to determine together the total amount of insurance protection needed, and calculate the best way to package the products to meet those needs. Our products have been "Protecting Families for Generations." We would like nothing better than to have the opportunity to help you protect your family.
FINANCIALSAgain in 1996, the Knights of Columbus earned the highest possible ratings for financial soundness and claims-paying ability from two of the top rating firms. For the fifth consecutive year, Standard and Poor's insurance rating service accorded the Knights of Columbus its AAA (Superior) designation.
For 22 consecutive years the A. M. Best Company has given us its highest rating, currently A++ (Superior).
During 1996, the Knights of Columbus broke all records by issuing 88,455 certificates for $4.03 billion of new insurance. This made 1996 the best year the Order has ever had.
In addition to life sales, our field force sold 9,423 annuity contracts amounting to $191.6 million in premiums.
Total premium income amounted to $713 million for 1996. Life insurance premium income amounted to an all-time high of $522 million reflecting an increase of $72 million over the year before.
Because of good investment earnings, favorable mortality experience and low expenses, the Order was able to continue paying record dividends. Life dividends allocated for 1997 amount to $178 million.
These dividends for living members far exceed the $76 million in death benefits paid to beneficiaries of deceased certificate holders. Our consistent, generous and fair dividend policy continues to make Knights of Columbus insurance a very attractive investment for living families, as well as providing for our bereaved families.
In addition to all of these numbers, the Knights of Columbus brings peace of mind and security to thousands upon thousands of widows, children and dependents of our deceased members. Since the beginning, the Order has paid out $921 million in death benefits. Likewise, to our living members and families, the Order has paid $3.1 billion in maturities, dividends, interest and other proceeds.
CAREER OPPORTUNITIESThe Knights of Columbus has a career opportunity for you - an opportunity that some say is the best-paid hard work in the world!
The life insurance sales career offers qualified, dedicated people the chance to provide a valuable service to others by uncovering prospects' needs and recommending a life insurance solution. Through periodic reviews the life insurance agent helps clients keep abreast of their constantly changing financial security situations. Through such service, he can enjoy the financial rewards of job satisfaction inherent in a professional career.
If you are interested in helping others, maybe you should consider the K of C agency force. Your ideas - your recommendations based on your ability to design appropriate plans to meet them - can have a significant effect on your clients' personal and business lives.
If you are interested in career growth, maybe you should consider the K of C agency force. Once you become established in your career, you are your own boss; and after a period of training, you plan and work your own hours.
You also might be interested for the financial rewards the career brings - rewards that are in proportion to your achievement. In the life insurance sales business, you determine your own income, and you are paid what you are worth.
If you are a Knight, or eligible to become a Knight, this could be the career for you. To find out more, feel free to contact our Field Management Dept. at (203) 772-2130, ext. 261. "Protecting Families for Generations" is more than a motto. For Knights of Columbus agents, it is a sacred trust.