Choosing a good life insurer is key. It helps protect your family’s money, covers final costs, and grows in value over time. This makes the question “is Knights of Columbus insurance worth it” very important for many families in the U.S.
I have 15 years of experience in insurance, covering many areas. I write in a way that’s easy to understand and tech-savvy. This review looks at Knights of Columbus insurance plans and life insurance. We’ll check out coverage, costs, claims, membership rules, and what members say to help you decide if it’s right for you.
We’ll dive into term, whole, universal, and annuity products. We’ll also look at policy benefits, riders, who can join, how premiums work, claims handling, and online tools. We’ll use Knights of Columbus materials, A.M. Best and BBB ratings, and real-life examples to guide you.
By the end, you’ll know what to do next. We’ll talk about getting quotes, medical exams, finding an agent, and comparing other options. If you’re wondering “is Knights of Columbus insurance worth it,” this review will give you the pros, cons, and advice to help you choose.
Key Points;
- Knights of Columbus offers member-focused knights of columbus life insurance with both term and permanent options.
- Strong financial ratings support long-term guarantees, but membership rules limit who can apply.
- Policies include cash-value growth and dividend possibility for eligible whole life plans.
- Online account management and local field agents handle quotes, medical exams, and policy changes.
- Compare rates and eligibility with open-market competitors before deciding if knights of columbus insurance plans meet your goals.
Overview of Knights of Columbus Insurance and Company Background
The Knights of Columbus started in 1882 in New Haven, Connecticut. Father Michael J. McGivney created it to help immigrant Catholic families. It’s mission is charity, unity, fraternity, and patriotism.
History and mission
It began in St. Mary’s Church basement. Now, it’s a global brotherhood. Members help with disaster relief, education, and more.
Faith-based, member-owned, non-profit structure
The society puts members first. It offers products to members and their families. Local agents are often members too.
Financial strength and ratings
It has a strong financial record and a big balance sheet. Reviewers give it high marks. It has A.M. Best A+ and BBB A+ ratings.
High ratings mean trust in paying claims. But, membership rules affect who can buy products.
What is the knights of columbus insurance phone number?
The phone number for Knights of Columbus Insurance is 203-752-4000.Address: 1 Columbus Plaza, New Haven, CT 06510
Types of Coverage: term, whole, universal life and annuities
The Knights of Columbus offers many insurance options. These include short-term protection, permanent coverage, estate tools, and retirement income solutions. Each option meets different needs for families, business owners, and those planning their legacy.
Most products require underwriting, but there are simplified issue options for smaller amounts.
Term life options
Term life insurance provides affordable death benefits for a set time. The Accelerator Term is available in 10-, 15-, and 20-year terms. It also offers an optional benefit boost for a small extra cost.
Annual Renewable Term offers a level death benefit with premiums that increase each year. It’s great for short-term needs or as a bridge to permanent coverage.
Young Adult term is for those aged 18–29 and their spouses. It’s affordable and offers temporary coverage without a long-term commitment.
Whole life variations
Standard whole life has level premiums, guaranteed cash value growth, and dividend eligibility. It’s for those wanting lifetime guarantees and predictable growth.
Limited-pay whole life requires fixed premiums paid over a set time, like 10 or 20 years. After the pay period, premiums stop, but coverage and cash value continue. It’s perfect for those who prefer shorter premium periods.
Single premium whole life uses one payment for lifetime coverage and immediate cash value. It’s ideal for those with extra funds seeking a guaranteed death benefit and tax-deferred growth.
Graded death benefit final expense policies are available without a medical exam. They have lower face amounts. During the first two years, they may not cover all causes of death, making them a more expensive but accessible option.
Universal and survivorship universal life for estate planning
Universal life offers flexible premiums and adjustable death benefits. It’s great for those who want control over their premiums and cash value.
Survivorship universal life, or second-to-die coverage, pays after the second death. It’s favored for estate planning to cover taxes, settle trusts, or preserve a business for heirs.
Annuities and retirement products overview
Knights of Columbus annuities provide fixed income for retirement planning. Fixed annuities offer predictable payouts and competitive rates. These products help meet long-term income goals and complement life insurance in a retirement portfolio.
Below is a compact comparison to help readers weigh choices across product families.
| Product | Primary use | Underwriting | Key benefit |
|---|---|---|---|
| Accelerator Term | Temporary income replacement | Standard underwriting | 10/15/20-year terms with optional benefit boost |
| Annual Renewable Term | Short-term bridge coverage | Minimal at issue, renewal rates rise | Low initial cost, flexible year-to-year |
| Young Adult term | Affordable protection for early adults | Simplified to standard | Low cost for ages 18–29 and spouses |
| Standard whole life | Lifetime guarantee and cash growth | Full underwriting | Guaranteed cash value and dividends |
| Limited-pay whole life | Paid-up coverage after set term | Full underwriting | Shorter premium period, lifelong coverage |
| Single premium whole life | Lump-sum funded lifetime coverage | Financial underwriting | Immediate cash value |
| Graded whole life (final expense) | Guaranteed issue final expense | No medical exam for small amounts | Accessible acceptance, limited initial benefit |
| Universal life | Flexible premium and death benefit | Full underwriting | Premium and death benefit control |
| Survivorship universal life | Estate tax and legacy planning | Full underwriting | Pays after second death for estate liquidity |
| Annuities | Retirement income | Financial suitability review | Fixed payouts and competitive rates |
When comparing options, consider cash flow needs, tax goals, and legacy aims. Talk to a qualified agent about how Knights of Columbus insurance plans fit your income goals. Ask if term life meets your short-term needs, if whole life supports long-term guarantees, and how annuities can fund your retirement.
Detailed look at Knights of Columbus life insurance policy benefits
The Knights of Columbus offers a mix of guarantees and flexible features. These features suit family planning and long-term security. This section breaks down core protections, cash value mechanics, dividend handling, and optional riders.
Guaranteed death benefit and cash value
Participating whole life plans offer a guaranteed death benefit and steady cash-value accumulation. Policyholders can take loans, request withdrawals, or surrender a policy for its cash-surrender value. This is useful for estate planning and predictable legacy transfer.
Dividends and paid-up additions
Knights of Columbus dividends appear as annual credits when declared by the board. Many policyholders elect to purchase paid-up additions with dividends. Paid-up additions boost both the death benefit and cash value without new underwriting.
Example postings from a typical statement show how dividends and interest post to cash value. A dividend of $785.27, interest or paid-up additions of $1,119.37, a previous balance of $28,791.53, and a new balance of $29,910.90. These entries illustrate how cash-value growth and dividends compound over time.
Knights of Columbus life insurance riders
- Accidental Death Benefit (ADB) — adds an extra payout for qualifying accidental death events.
- Chronic Illness Accelerated Benefit and Terminal Illness Accelerated Benefit — allow partial early access to the death benefit when medical criteria meet plan definitions.
- Term Conversion Rider — converts term coverage to permanent coverage without proof of insurability.
- Children’s Term Rider — covers dependents with conversion options later in life.
- Disability Waiver of Premium — waives premium when the insured meets the disability definitions and age limits.
Conversion features and guaranteed purchase option
Convertible term products permit conversion to permanent policies while preserving insurability. This proves valuable if health declines or long-term needs rise. The Guaranteed Purchase Option rider permits scheduled increases in coverage at certain life events without further medical evidence.
Practical cash-value implications
Cash-surrender value often equals the policy’s stated balance minus surrender charges and loans. Tax consequences may apply when a policy lapses or a loan exceeds basis. Policyholders should consult a field agent or Knights of Columbus headquarters for precise cash-out figures and tax guidance.
knights of columbus insurance: eligibility, membership requirements, and who can apply
The Knights of Columbus offers life and retirement products. Before applying, check with a council or field agent. This step helps understand local rules and family definitions.
Membership requirement
Only practicing Catholic males aged 18 and older can join. They must be in communion with the Holy See. This rule applies to those wanting full member benefits and insurance access.
Who cannot apply directly
Women and non-Catholics can’t join as primary members. Spouses and dependents might get coverage through a member’s policy. Those not in these groups should look elsewhere for insurance.
Impact on availability and choice
Membership rules limit who can get insurance. If you’re not eligible, compare other insurers. They offer more products and easier online quotes for various insurance types.
Practical next steps
- Contact a local council or field agent to verify knights of columbus membership requirements and family eligibility.
- Ask how spouse or dependent access works for specific products before applying.
- If you fall outside eligibility, request competitive quotes from open-market carriers to compare rates and features.
Costs, rates, and how premiums are determined
Understanding pricing starts with underwriting. Age, medical history, and tobacco use are key factors. A 35-year-old non-tobacco applicant will pay less than a 55-year-old with health issues.
Field agents collect medical records and lifestyle details. They use this information to give a tailored quote.
Gender and hazardous hobbies also affect pricing. High-risk jobs or frequent travel to dangerous places raise premiums. Policy type is important too.
Term policies have lower initial premiums. They offer coverage for a fixed period. Permanent products cost more but include cash value and guarantees.
When planning, compare term versus permanent pricing. Term policies are budget-friendly for working years. Permanent policies offer lifetime protection and tax-advantaged cash value growth.
Dividends are important for participating whole life. Policyowners can take cash, buy paid-up additions, or apply dividends to premiums. This can increase cash value.
For a practical cash scenario, a policyholder with a New Balance around $30,000 should request a current surrender calculation. Surrender charges and loan interest affect the amount received when cashing out.
Use a simple cost-benefit checklist when comparing options:
- Estimate cumulative premiums across the planning horizon.
- Compare projected dividend history for participating whole life.
- Assess liquidity needs and tax-advantaged borrowing.
- Match death benefit size to income replacement or estate goals.
Contact a local field agent for side-by-side illustrations. This shows how rates change by class, tobacco status, and rider selection. Illustrations provide premium schedules, cash value projections, and cash out amounts over time.
One final practical note: request recent in-force illustrations and a surrender worksheet before any decision. These documents clarify current surrender values, guaranteed amounts, and dividend assumptions that affect long-term costs.
Claims process, customer service, and policy management
Filing a claim with Knights of Columbus is easy. You just need to fill out a claim form and give a death certificate. They check your documents, make sure you’re covered, and then pay the benefit.
How long it takes depends on how complete your documents are and if they need to do more checks. Knights of Columbus is known for paying claims quickly. They have great ratings from A.M. Best and the Better Business Bureau. Keep your policy number and agent’s contact info ready to make things faster.
Customer support is both local and centralized. Local agents help with policy reviews, updates, and questions. The company’s headquarters handles claims, billing, and other big tasks.
For everyday tasks, use the Knights of Columbus insurance customer service. They can guide you and tell you what to do next.
There are also digital tools to help manage your policy. Members can log in to the Knights of Columbus insurance portal.
The portal lets you look up your policy, pay bills, and get documents. It’s safe and secure, protecting your information.
Here are some tips to avoid delays. Ask for annual statements to see how your policy is doing. Before cashing out, get illustrations for loans or surrenders. And always check your beneficiary info every year.
| Task | Who to contact | Typical docs | Expected result |
|---|---|---|---|
| File death claim | Knights of Columbus insurance customer service or field agent | Claim form, death certificate, policy number | Benefit paid after verification |
| Update beneficiary | Field agent or online via knights of columbus insurance login | Signed change form or online authentication | Policy record updated |
| View policy details | Member portal for knights of columbus policy lookup | Policy number and login credentials | Access to statements, riders and values |
| Make payment | Online portal or customer service phone | Payment method and policy number | Payment posted securely |
Real-world insights from Knights of Columbus insurance reviews and customer experiences
Reviews show a pattern in Knights of Columbus insurance. People like the strong financial ratings and reliable dividends. They also appreciate the personal touch from agents.
Life insurance reviews often talk about good prices for members. Whole-life policyholders see their cash value grow and get dividends. This makes them feel secure during life’s ups and downs.
But, there are complaints too. Some say only members can get insurance. Others wish for online quotes instead of relying on agents. There’s worry about agents pushing certain policies for their own gain.
Real-life examples make these points clear. One person got a $785.27 dividend and a cash balance of nearly $29,910.90. Another wondered if the “new balance” after charges was right.
Most claims and service feedback is positive or neutral. The insurer’s A.M. Best A+ and BBB A+ ratings show they pay claims on time. Yet, some want easier online access to important info.
The main lesson from these reviews is about choices. The service and ratings are great for members. But, those wanting quick online quotes might find it slower.
To make a better choice, ask for past dividend history and detailed surrender info. Also, ask for a breakdown of commissions. This helps match agent advice with your goals and understand the long-term value.
How to find a Knights of Columbus insurance agent near me and contact info
Finding a local field agent makes getting quotes faster. They help explain how to join. Ask for written details and dividend history at your first meeting.
Use the online agent locator or call central support if you can’t meet in person. A field agent helps with underwriting and scheduling exams. If you look for a knights of columbus agent near me, call the council listed by the official locator to confirm availability.
Knights of Columbus phone number agents handle payments and claims. Have your policy numbers and personal details ready. Make sure you have the current knights of columbus phone number to avoid delays.
To get a quote, share your age, health, and what you want to cover. An agent will compare term and permanent options. If needed, they’ll schedule a paramed exam.
For policy changes, contact your field agent or use knights of columbus insurance contact channels. You can update beneficiaries or change premiums. Ask for a written illustration before cashing out.
Use this checklist when you reach out:
- Bring proof of identity, current health notes, and medication list.
- Request written illustrations and dividend history for the exact policy.
- Compare at least two carriers to verify value and options.
Keep records of all communications and confirmations. This helps with service, reduces errors, and reviews policy performance.
Comparing Knights of Columbus coverage with competitors and alternatives
Shopping for life insurance or retirement products can be time-consuming. Eligible Catholics should compare Knights of Columbus insurance with others. This helps find the best rates, guarantees, and service models.
Where Knights of Columbus excels
Knights of Columbus is strong in participating whole life guarantees. These policies offer level premiums and a guaranteed death benefit. They also grow cash value predictably.
Dividends on these policies can increase value over time. This is great for those who want stable, guaranteed results.
Annuitization and fixed annuity options are good for retirement planning. They provide dependable income. The A.M. Best A+ rating and long history show the products are reliable.
When choosing between fixed payouts and other annuities, compare. Prudential, New York Life, and Vanguard offer different options.
Where competitors may beat them
Mainstream carriers offer open eligibility and instant quotes online. State Farm, Northwestern Mutual, and MassMutual have more products. They include indexed and variable universal life.
Digital-first insurers like Haven Life and Ethos offer fast term quotes. They are great for those who can’t join Knights of Columbus.
For those who value digital tools or wider underwriting classes, compare Knights of Columbus with competitors. You’ll see differences in accessibility and product variety.
How to shop multiple insurers for best value
Ask for quotes that are the same. Request level-term prices for the same term and coverage amount. For permanent policies, get guaranteed values and dividend assumptions.
Work with an independent agent or broker to get quotes from multiple carriers. Ask for underwriting class definitions, rider details, and fee breakdowns. Compare surrender charges, accelerated benefit terms, and rider costs.
When comparing Knights of Columbus insurance, consider more than just price. Membership value, charitable mission, and agent relationship are important too.
Get a Knights of Columbus quote and compare it with at least two others. This ensures you see where Knights leads and where competitors offer better options.
Pros and cons of choosing Knights of Columbus insurance
When looking at Knights of Columbus insurance, think about its financial strength, policy features, and who can buy it. This section highlights the good points and the not-so-good ones. It helps you see if the product fits your needs.
Key strengths
- Strong financial ratings from A.M. Best (A+) and BBB (A+). This means they can pay claims reliably and keep promises for a long time.
- Participating whole-life policies that pay dividends and build guaranteed cash value. They also offer limited-pay and single-premium options for estate planning.
- Wide rider menu: accidental death, chronic or terminal illness accelerated benefit, children’s term, disability waiver, and guaranteed purchase options that aid customization.
- Member-focused service and fraternal benefits delivered by field agents who provide tailored planning and local council support.
- Annuities and survivorship products that suit retirement and legacy plans for eligible members and families.
Primary drawbacks
- Membership restriction limits eligibility to practicing Catholic males and their eligible family. This narrows market access and excludes many buyers.
- Limited instant online quoting and purchase options. Sales proceed mainly through agents, which can reduce price transparency for some shoppers.
- Agent commissions on certain products present a conflict of interest. Buyers should compare independent quotes to verify value.
- Product set omits indexed and variable universal life options found at other carriers. Buyers seeking those strategies may need another insurer.
Who this fits best
- Practicing Catholic men and eligible family members who value guaranteed whole-life coverage, dividend possibility, and fraternal benefits.
- Families using survivorship universal life for estate planning and those who prefer in-person advice from a local agent.
- Buyers seeking straightforward participating whole life or conservative annuity solutions with strong financial backing.
When to look elsewhere
- Non-Catholics or buyers who require fully digital quoting and online purchase experiences.
- Those seeking indexed universal life, variable products, or broader long-term care combos in one policy.
- Consumers who want maximum price transparency without agent involvement.
Next step: ask for a Knights of Columbus illustration. Then, compare it with other carriers. This will show you the pros and cons of Knights of Columbus insurance for your needs.
| Feature | Knights of Columbus | Typical Competitor |
|---|---|---|
| Financial strength | A.M. Best A+, BBB A+ | Varies; many large mutuals hold A or better |
| Product focus | Participating whole life, term, universal, annuities | Broader lineup including IUL and VUL |
| Eligibility | Practicing Catholic males and family | Open to general public |
| Riders and customization | Many riders: chronic illness, accidental death, children’s term | Comparable rider sets; some offer LTC combos |
| Sales channel | Field agents and local councils | Direct online quoting and independent agents |
| Best use case | Member-focused legacy and guaranteed coverage | Digital-first shoppers and product diversity seekers |
Conclusion
Knights of Columbus insurance offers solid life and annuity plans. They have good ratings from A.M. Best and the BBB. For Catholic men and their families, it’s a good long-term choice.
But, it might not be easy for everyone to join. You can’t get quotes online easily. You need to talk to a field agent to get more information.
Before you decide, ask for detailed plans and past performance. This way, you won’t be surprised later. A local agent can help with this.
If you’re not eligible or want more choices, look at other companies. Northwestern Mutual, MassMutual, and Prudential are good options. They offer different plans and services.
For those who can join, Knights of Columbus is known for its strong guarantees. But, others might find more options elsewhere. This gives them better choices and more variety.
What to do next? Reach out to a local council or field agent for a quote. Make sure you have their contact info. Also, check their ratings on A.M. Best and the BBB.
These steps will help you decide if Knights of Columbus is right for you. You’ll make a choice you can feel good about.
