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 Knights of Columbus CEO Carl A. 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,” said Anderson.
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®.
To learn more, contact your Knights of Columbus field agent.
Many times, people will delay the purchase of needed life insurance because they assume there is no rush. A recent study of claims paid on Knights of Columbus life policies reveals that in 2018 there were a number of claims paid on plans that were in force less than 12 months*. The leading causes of death were cardiovascular disease and motor vehicle accidents. The claims paid were from seven states and three provinces of Canada.