Knights of Columbus Insurance Review (2022)
The Knights of Columbus organization was founded in 1882 to aid immigrants and combat xenophobia. It currently offers a wide range of life insurance products but only to male members of the Knights of Columbus. You can read Knights of Columbus insurance reviews, like this one, to learn if this organization is right for you.
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UPDATED: Mar 3, 2022
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- The Knights of Columbus is a Catholic fraternal organization
- Only members of the Knights of Columbus can purchase life insurance through this entity
- The Knights of Columbus offers a variety of life insurance products
An organization based on the Catholic faith, the Knights of Columbus has long provided aid to those in need and insurance products to its members. While you must meet specific requirements to be accepted by this group, Knights of Columbus does provide a wide range of life insurance products.
If you’re not sure if you qualify for a Knights of Columbus insurance policy, you can read Knights of Columbus insurance reviews — like this one — to help you determine if this company is a good fit for your needs.
Continute reading to learn more about this organization and the life insurance products that it can offer you.
What is Knights of Columbus Insurance?
The Knights of Columbus organization was founded in 1882 by Father Michael J. McGivney to support Catholic immigrants upon entering the United States. Christopher Columbus was chosen as the group’s patron to battle xenophobia by displaying its many immigrant members’ patriotism for the United States.
Today, this fraternal organization for Catholic men provides worldwide assistance to victims of natural disasters and those displaced by war. However, it is important to note that this organization also supplies funds to anti-abortion and anti-same sex marriage movements.
The group of people who can utilize Knights of Columbus’ insurance products is quite restricted. If you are not a Catholic male who is a member of the Knights of Columbus, you will not be able to purchase insurance from this group.
If you are interested in purchasing a policy through this organization, you should note that there isn’t a Knights of Columbus life insurance death claim form online. Instead, you will need to contact your insurance representative directly.
You also won’t be able to find sample life insurance rates on the Knights of Columbus insurance website. However, it does provide an insurance calculator that can help ascertain how much insurance coverage you may need.
Based in New Haven, Connecticut, this organization may be contacted at 203-752-4000 if you have additional questions about the Knights of Columbus and its history.
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Is Knights of Columbus insurance highly rated?
The Knights of Columbus is a financially strong company with the ratings to prove it. A. M. Best gave the insurance company an A+ rating. This high rating can confidently assure clients that the Knights of Columbus will be able to pay out if their beneficiaries ever have to file a claim. You can also expect to be treated well by a Knights of Columbus insurance customer service representative because the Better Business Bureau awarded this group an A+ rating.
In addition, you can also read free Knights of Columbus insurance reviews online to discover what other customers have to say about Knights of Columbus insurance.
The Knights of Columbus charity rating is quite favorable as well. The non-profit watchdog, Charity Navigator, has given the group a passing score of 75%, which means that those interested in donating to the group can rest easy knowing that their funds are being used appropriately.
What life insurance products does Knights of Columbus insurance offer?
There are a variety of Knights of Columbus life insurance products for you to choose from, as you can see below:
- Protector NLG Universal Life
- Limited Pay Whole Life
- Single Premium Whole Life
- Survivorship Universal Life
- Graded Death Benefit Whole Life
- Accelerator Term Insurance
- Annual Renewable Term
Every individual has different needs for life insurance. Therefore, let’s closely examine these different types of life insurance products, so that you can discover which is the best fit for you and your loved ones.
Protector NLG Universal Life
As one of the newest products offered by Knights of Columbus insurance, you can use the Protector NLG policy to procure lifetime coverage, flexible payment options, and other protections like a Lapse Protection Rider.
Limited Pay Whole Life
The Limited Pay Whole Life policy grants you the flexibility to choose how long you will pay for your insurance. There is a minimum pay period of five years for this policy, but your rates will be fixed once you select your payment period. As long as you make your payments on time, your policy will remain in good standing, and you will have coverage for the rest of your lifetime.
Single Premium Whole Life
If you are worried about forgetting to make your life insurance payments on time, you may be interested in the Knights of Columbus Single Premium Whole Life insurance policy. While you will need to have access to a large amount of disposable income, you could obtain lifelong coverage with one lump sum payment.
Survivorship Universal Life
Married members of the Knights of Columbus can take advantage of the Survivorship Universal Life policy. This policy allows you to insure yourself and your spouse, so that you can provide a financial cushion for your loved ones if the worst should happen.
Graded Death Benefit Whole Life
This final expense product doesn’t require any underwriting as long as you reside in the United States. With this policy, you can quickly acquire the coverage you need to help cover the expense of a funeral or a memorial.
Accelerator Term Insurance
If you only need insurance for a set amount of time, you can elect to have your Accelerator Term Insurance policy take effect for a certain duration:
- 10 years
- 15 years
- 20 years
While this term life insurance series initially seems quite ordinary, it has an appealing feature that isn’t often detected. Regardless of whether you need insurance for 10 years or a 20-year term life insurance policy, you will have the opportunity to increase your coverage by 25%.
This step can not only help you battle inflation but also allow your insurance coverage to grow if your salary increases or if you accumulate more financial responsibilities during your policy period.
Annual Renewable Term
Another term policy, the Annual Renewable Term, allows you to take a second look at your policy and adjust it once a year if your coverage needs alterations. You will, however, need to pay higher premiums if you increase your coverage.
Young Adult Insurance
Designed for Knights of Columbus members between 18 and 29, this term product can provide inexpensive life insurance coverage.
If you don’t think you need life insurance, you may be interested in purchasing a Knights of Columbus annuity or a Knights of Columbus long-term care insurance policy.
Now, before you buy any type of financial product, you should obtain quotes from at least three different companies to verify that you are receiving the best policy for your needs.
What You Need to Know About Knights of Columbus Insurance
As an organization based on the Catholic faith, only male members of the Knights of Columbus can purchase insurance through this organization. The Knights of Columbus was originally founded to provide immigrant assistance and has grown dramatically in scope throughout the years.
This organization does offer a wide range of term, whole, and universal life products. However, if you aren’t a member of the Knights of Columbus, you’ll need to shop online to find the best insurance company for you.