Seems some are a little skeptic of the KofC Insurance program, so let me clear up a few things.
First, let me just say that I have all my life insurance with the Knights. I truly believe in the cause because I truly believe in what Father McGivney was trying to promote at a time when nobody was advocating for those poor, early members. Even today, we really don’t have a Catholic advocate for such a thing as important as life insurance EXCEPT the Knights.
When I pass away (as we we all will) I take comfort in the fact that there will be a BROTHER KNIGHT to deliver that check to my wife. A Brother Knight who took all the same degrees and learned the same principals that I did. The alternative is for my wife to scramble and call some random 1-800 number to a company who I may not agree with, ethically. The Knights invest your money (conservatively) in things that do not negate our Catholic morals. If I go with company ABC, are they investing in abortion? I can’t be sure… but with the Knights I
can be sure.
Because the Field Agent has such a role in the council, it is to our advantage that when something DOES happen to one of our members, he is notified through the council and can get a start on the claim process: contact the widow and let her know what to do next. The alternative is for the widow to hunt down an insurance company during a time when 1) she may need the money NOW and 2) if the company is even around anymore. In my opinion, this is a great fraternal advantage.
The Knights of Columbus Insurance program is the main source of income for the Order. We are a non-profit, tax-exempt fraternal organization, so with the earnings that come from the insurance program, it allows us to give the hundreds of millions of dollars ($145 Million in 2007) to charity. Things like the Katrina relief, the Hero’s Fund, and many other programs are a reality because of the insurance program. I’m not sure if I can go with any other company knowing that my money is being used in such a manner. While heads of other insurance companies are begging the federal government for a bailout, ours is meeting with the Pope at the Vatican and publishing books such as “The Civilization of Love”.
The Knights of Columbus is also rated A++ and AAA with A.M. Best and Standards and Poors. These are the highest ratings a company can possibly get. These ratings dictate the company’s financial strength and ability to pay claims. With the very good track record our Order has, I feel confident that my wife will not have to hassle or fear she may not get a check.
And finally, the insurance program prides itself on “Insurance By Brother Knights, For Brother Knights” and I sincerely believe Supreme is doing its best to give us the BEST insurance policies one can buy on the market today. Our Whole Life policies are paying a very high dividend interest and the last time I checked my annuity, it was locked in at 5% for 5 years. What’s bad about that?
All in all, many win with Knights of Columbus Insurance, and nobody loses. A good , ethical CATHOLIC company, my fraternity and Brother Knights, the highest ratings in the industry, high interest rates on both my life insurance and my annuity, AND the premiums I pay go toward all the charitble things we do? Now you know why I support the Insurance Program so much.
How did I learn all this? I gave my Field Agent the time of day! He taught me all these things and I went in with an open mind. He’s a Brother Knight that’s just trying to earn a living… not a used car salesman trying to slime his way through a sale. Even if you are not interested in participating in the insurance program, don’t down-talk it or speak negatively about it. There are many, many Brother Knights, such as I, that actually DO need the coverage.
A great disservice to a fellow Brother Knight is to discourage him from meeting with the Field Agent. Even if you don’t participate in the program,
his family may need it. How would you feel if a man died without coverage, and you discouraged him from the opportunity to get it while he lived? Imagine how Father McGivney would’ve felt if you told those wanting to join back in 1882 to not be bothered with HIS insurance program?
Be a little more open minded about this great fraternal benefit. After your 1st degree, MEET with your Field Agent, listen to what he has to say - it’s not junk and it’s not slimey. It’s there for a reason, and it what keeps our financial engine running.
Vivat Jesus!