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                                                           Etowah Council 12826

Insurance Benefits

Brother Knight Allen Boure serves as our Insurance Agent. He will help all of us with our insurance benefits. You can contact him at 770-625-6101

Why Do You Need Insurance

A house is more than just a "house," isn't it? If you've laughed in it, cried in it, and lived in it, it's a home—your home. If something should happen to you, will it remain with those who have shared it with you? A life insurance plan can assure that your home stays with your loved ones.


You have worked hard to bring you family's standard of living up to where it is. You shouldn't be willing to give that up—no matter what. They say "you can't take it with you," but earning capacity goes when you do! There is a way to guarantee that they will never have to sacrifice that standard of living, whether you are here or not. Life insurance


Few things concern parents today more than helping their children get a college education. If costs continue to rise, a private university's annual cost may exceed $30,000 by the year 2005! Money like that can be hard to come by. What can you do about it? Make sure your children have the same opportunities for education whether you live or die.

Thought about retiring lately? When you do, figure out how much money you'll have. Then think about a life insurance plan that will provide more. Retirement benefits such as Social Security are nice, but do you know how much you'll get? Pensions are a plus, but will they be enough? Supplemental income is usually necessary.


The furnace breaks. The car goes on the blink. The roof leaks. Someone in the family becomes ill. Everyday occurrences in households all over the country. What do you do? Life insurance can help. The cash and loan values of a whole life policy are available to you when emergencies happen. Or even to provide cash for some other event.


The unfortunate truth is that the last thing you'll do on this earth is create a debt that you won't be around to pay. Final expenses may include burial costs, unpaid bills, and excess hospital bills over health insurance payments. The emotional drain on your family should not be aggravated by concern about money. Not if you can help it. And you can.

Why Should I buy Life Insurance from the
Knights of Columbus?

I am often asked that question by concerned Brother Knights and their families. Although the reasons are obvious, they are sometimes forgotten. Consider the list below. These are facts about your Fraternal Life Insurance Company, the Knights of Columbus. If you considering doing business with another company, ask yourself...Do they offer this for my family?

  • Has the highest rating assigned by Standard & Poor's and the AM Best companies (AAA+) (Superior). Only 10 out of 2,700+ life insurance companies in the USA and Canada received these ratings in 1998, & 1999 with the Knights of Columbus as the ONLY Fraternal Company.

  • Offers a Student Loan Program for Brother Knights and their Families.

  • Supports Catholic Colleges and Universities with grants, loans, and endowments.

  • Provides Scholarship Programs for sons and daughters of members who attend Catholic colleges and universities.

  • Helps to educate Catholic Priests and Brothers.

  • Pays one of the highest dividend rates in the industry.

  • Provides scholarships to sons and daughters of member policemen, firemen and military personnel who are killed or permanently disabled in the line of duty as the result of criminal violence.

  • Provides charity to victims of disaster or calamity.

  • Campaigns against pornography and smut.

  • Provides money and aid in the campaign against abortion.

  • Provides insurance at standard rates for member's children who are mentally retarded.

  • Provides money for aid to the mentally retarded.

  • Provides information to people about the Catholic faith.

  • Provides low interest loan to Catholic churches for building construction, mortgages, etc.

  • Promotes youth activity organizations which are intended to make youth morally and religiously responsible.

  • Provides FREE accidental death benefits for members and spouses.

  • Provides a Family Fraternal Benefit with an Orphan's benefit for members participating in the insurance program.

This is just a partial list. Remember, premium is not the only consideration when buying life insurance. You may find cheaper insurance elsewhere, however consider all the facts. You are a fraternalist and you should support your Fraternal Order. After all, why did you join the Order? "We are Brothers helping Brothers and providing for the care and welfare of our Catholic widows and orphans."

Family Fraternal Benefits

The Order's various life insurance plans are available through our agents for a healthy child. But what about children who are physically challenged or mentally retarded? In these cases, Knights of Columbus offers:

  • $5,000.00 life insurance for a member's uninsurable child

  • Up to $5,000.00 life insurance for a mentally retarded child

Death Benefits include:

  • A $1,500.00 death benefit to the family when a child dies less than 61 days after birth.

  • A $750.00 death benefit to the family when a child is stillborn.

To be eligible for these benefits, the member must be in good standing with his Council, and at least one parent and the children not declined for insurance must be insured under an individual Knights of Columbus certificate.

Orphan Fraternal Benefits

An Orphan Fraternal Benefit of $80.00 monthly is paid for support of each eligible orphan. The child also may be eligible for up to $1,750.00 each year in educational grants.

For a child to be eligible for these two orphan benefits, the father must have been in good standing with his Council and at least one parent must have been insured under a Knights of Columbus certificate. The child must be less than 19 years of age and be insured by an individual Knights of Columbus certificate. Your Knights of Columbus Insurance Representative can provide the details.

Member/Spouse Fraternal Benefits

Free benefit up to $2,500.00 each for member and spouse. Your Knights of Columbus Insurance Representative can provide the details.

Financial Aid/ Education

  • Fourth Degree Pro Deo and Pro Patria Scholarships

  • Percy J. Johnson Scholarships

  • Fourth Degree Pro Deo and Pro Patria (Canada) Scholarships

  • Mexico, Philippines and Puerto Rico Scholarships

  • The Catholic University of America Graduate Fellowships

  • Bishop Charles P. Greco Graduate Fellowships

  • Francis P. Matthews and John E. Swift Educational Trust Scholarships

  • Student Loan Program

Contact your K of C Insurance Representative for information and applications.

Insurance Information

Here Are Twelve Reasons Why You Should Consider Knights of Columbus Insurance:

  1. Place your money where it will do the most good...for you, your Order and your Church.

  2. Whole Life, term, annuities, The Discoverer, Single Premium Life- a complete portfolio that can meet all of your life insurance needs.

  3. Enjoy the peace of mind that goes with knowing your family is secure.

  4. Provide for your children's future educational needs.

  5. Competitive dividends paid consistent with sound financial practices.

  6. Achieve your retirement goals on a systematic basis which pays you a monthly income for as long as you live.

  7. Rated A++ (Superior) by A.M. Best and AAA (Superior) by Standard and Poor's- the highest ratings available.

  8. Enjoy the most modern and practical approach to solving your family's financial problems, whether you die too soon or live too long.

  9. Settlement options enable you to stretch proceeds of insurance over a lifetime if necessary.

  10. An insurance program tailor-made to suit your individual needs.

  11. Owned and operated for the benefit of members and their families.

  12. Never be without expert advice from the Brother Knight who is your Knights of Columbus Insurance Representative

The Knights of Columbus Insurance Portfolio

Long Term Care

Insurance for long term care is increasingly beneficial as people live longer and require either limited assistance or nursing home care in greater numbers. Custodial services such as bathing, eating and dressing are not generally covered by Medicare, and nursing home care can cost upwards of $45,000 per year. These financial realities may force you to deplete assets or to rely on your family for help. If you require nursing care, you might have to ask your children for help just when they're ready to send their own sons or daughters off to college -- a common dilemma among middle-aged people today which causes experts to refer to them as "the sandwich generation".

Knights of Columbus Care can give you peace of mind. This is a tax-qualified plan available to members and their spouses, ages 40 through 85 (subject to underwriting requirements). Coverage can be tailored to your needs, giving you control over the type of coverage; the daily benefit amount, benefit duration, and elimination period; and the premium you must pay. The policy is guaranteed to be renewable, and a guaranteed purchase option assures you of obtaining added coverage as needed.

Four Kinds of Life Insurance

Different people in different situations have different insurance needs. Accordingly, the Knights of Columbus offer four different types of insurance to its members through its professional sales force, as described below.


Whole life insurance guarantees you a minimum death benefit throughout the course of your life, provided that you pay the required premiums. Typically, the premiums remain level for the life of the insured. Whole life insurance usually requires premiums to be paid for as long as the insured lives, but some cash value policies require premiums for a shorter period, such as 20 years or until age 65. Premiums for these policies will be higher, since the premiums will be paid for fewer years.

Whole life insurance builds cash value. Whole life insurance, unlike term insurance, also can earn dividends as early as the policy's third anniversary. These dividends, which cannot be guaranteed, can be paid in cash, or they can reduce the amount of premium you pay. They can also be kept with the Knights of Columbus to earn interest or they can be used to purchase additional insurance.

The advantage of whole life insurance is that the policy, if kept current, covers you for your entire life, as opposed to term insurance that covers you only for a term of years. Whole life insurance also accrues a cash value that can be used in a variety of ways.


Term insurance pays a death benefit to your family if you should die during the term of the policy. The terms of coverage vary, and some policies allow you to renew the policy at the end of a given period. Depending on the policy, your term insurance premium rates will often increase at each renewal date, but renewal will generally be guaranteed up to a certain age. Term insurance can usually be converted to a cash value policy.


The Discoverer combines whole life insurance with term insurance. Over the course of the policy, the term insurance is converted to whole life insurance. Like Knights whole life policies, the Discoverer builds cash value and earns dividends. These dividends convert the term insurance into permanent, whole life coverage.


An annuity is a contract for which you pay premiums—either a single premium or a series of premiums—in return for future periodic payments. Annuity contracts can be flexible in the number, amount and frequency of premiums, and the manner and amount in which payments will be made to you later.

The Knights of Columbus offers a number of annuity options. Our flexible premium annuity allows you to pay either a single premium or multiple premiums, and determine the amount and frequency of premium payment. You can also choose deferred periodic payments or a lump sum payment. The interest rates on this annuity are subject to change on a quarterly basis, which allows the Knights of Columbus to maintain competitive rates. The Knights also offer a single premium immediate annuity that is funded by a single premium payment and provides immediate periodic payments. Under one version of this plan, a husband and wife can receive immediate payments, with reduced payments continuing for the life of the surviving spouse.

Business Insurance

For the business owner insurance takes on a new meaning. Understanding the goals of the business owner is critical in determining which program is the most beneficial for the company. The Knights of Columbus offers, for it's members, several policies specifically designed for the business market.


A Buy/Sell Agreement is, simply, an agreement for the purchase and sale of a business ownership interest if an owner dies. There are two basic types of Buy/Sell Agreements- (1) An Entity Plan and (2) A Cross Purchase Plan.

With the implementation of Buy/Sell Agreement, the business creates a guaranteed market for the sale of a business interest due to an unexpected death of a principal.
The Buy/Sell Agreement, at the time of implementation, determines the value of a business for purposes of Federal estate and death taxes.
The Buy/Sell Agreement enables the remaining business principals to continue the business without interference from the terminating owner's family or outsiders.
This avoids inequities and future disagreements regarding the value and the disposition of the business interest.
Funding Buy/Sell Agreements with insurance provides a decisive advantage versus borrowing funds when considering the Business Transfer Costs.


Split Dollar is a method of paying for an insurance policy whereby the premiums are "split" between the corporation and the business owner/employee. The business owner buys an insurance policy, then enters into a collateral assignment in which the corporation agrees to pay the premiums. There are two basic types of Split Dollar Life Insurance- Equity Split Dollar Life Insurance and Reverse Split Dollar Life Insurance.


The Executive Bonus plan is designed for Brother Knights who wish to have a business sponsored retirement plan whereby the premiums are paid for by the company as a tax deductible business expense.