Milestone highlights K of C’s financial protection of Catholic families
The Knights of Columbus surpassed $100 billion of life insurance in force this week, marking an important milestone in the Catholic fraternal benefit society’s mission to protect the future of Catholic families.
This milestone was achieved despite continuing adverse conditions affecting the insurance industry.
Established in 1882 by a young Catholic priest, the organization — which offers its line of top-rated products exclusively to its members and their eligible family members — manages $21 billion in assets and ranks 939 on the 2015 Fortune 1000 list, placing it among the largest life insurers in North America.
“The $100 billion milestone is not simply a number,” said Supreme Knight Carl Anderson. “It highlights the fact that each year we are protecting the future of more Catholic families, continuing the mission of our founder, Venerable Father Michael J. McGivney.”
The Knights of Columbus offers insurance to its members and their families through a network of more than 1,500 dedicated, professional agents in the United States and Canada — all of whom are members of the Knights of Columbus.
“With each dollar of top-rated insurance in force that our professional agency force adds, additional, meaningful security is provided to the families whose livelihoods we protect,” the Supreme Knight said. To read a full interview with Supreme Knight Anderson on this milestone, please click here.
The $100 billion milestone caps a year in which the Knights of Columbus set a new record for insurance sales with $8 billion sold, earned the top rating of A++ Superior from AM Best for the 40th consecutive year, and was named a “World’s Most Ethical Company” for the second consecutive year by the Ethisphere Institute®.
The Knights of Columbus is the world’s largest Catholic fraternal organization with nearly 1.9 million members worldwide. It is also one of the most active charitable organizations in the United States. The Knights set a new record for charitable giving in 2014 with donations of more than $173.5 million and 71.5 million hours of service to charitable causes.
Buying life insurance is something that’s easy to put off until tomorrow. And with the busy lives we all lead, tomorrow can easily become next week, next month, or even next year. For the sake of those you love, don’t let that happen. I consider it my fraternal obligation to make sure that every Knights of Columbus member has the opportunity to protect his family with the Order’s top-rated insurance products. I’ll work with you to put a plan in place that will help your family when that help is most needed. We all know someone whose health, instantly and seemingly out-of-the-blue, changes. You may think this can’t happen to you. Think again. And keep in mind that no one will ring a bell warning you that your health is about to change. Medical technology has turned many diseases previously termed “death sentences” into very treatable conditions. What medical advances haven’t changed, however, is that being diagnosed with one of these diseases will dramatically affect your ability to purchase life insurance coverage. Don’t wait until it’s too late. Your Knights of Columbus insurance program is second to none. Knights of Columbus life insurance represents a safety net for Catholic families that’s unsurpassed, and I’m proud of that. I’m also concerned. Why? Because so many of our brother Knights have no life insurance with the Order. I suspect that, for many of them, tomorrow has become next week, next month or next year. Don’t be one of them. Don’t wait for the bell to ring. It isn’t going to.
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