Update Your Beneficiaries

Sometimes it is easy to overlook the simplest of things.

Take, for example, the beneficiaries on your life insurance policies. If your policy was applied for and issued several years ago, it may very well be that the person you originally selected as the beneficiary is no longer the person you would want to receive the policy proceeds. If you bought the policy when you were single, for example, you may have named your parents as beneficiaries. If you have since married, your policies should be updated to reflect your spouse as beneficiary. Maybe you’ve had children since, who are not named on the policies.

Most people list a primary beneficiary, who is specifically designated as the first in priority to receive policy proceeds. We also encourage the naming of a contingent beneficiary, an alternate person designated to receive policy proceeds, usually in the event that the original beneficiary pre-deceases the insured.

I routinely call all of my policyholders for annual review appointments, usually near the anniversary date of your policy – that is, the date it was originally issued. One of the matters that I’ll discuss during this review is the status of your beneficiary designations. If they need updating, and they often do, I can complete the paperwork during that appointment. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

The VANTAGE Annuity Advantage

Concerned about a comfortable and worry-free retirement? In addition to our traditional Flexible Premium Annuity, the Knights of Columbus offers the VANTAGE Single Premium Deferred Annuity, and it may be part of the answer for you.

With a single deposit of $25,000 or more, the VANTAGE allows you to lock-in a guaranteed interest rate for five years. In addition, there are several attractive renewal options once the five-year period has expired, including keeping the funds in another VANTAGE Annuity, placing them in a more traditional, flexible premium annuity where the interest rate can be changed on a quarterly or more frequent basis, or — in the 30-day period prior to the fifth and tenth policy anniversaries — withdrawing the funds without a surrender charge.

The VANTAGE Annuity, along with our Flexible Premium Annuity, provides the guarantees that Knights of Columbus members have come to expect — guaranteed interest rates along with absolute safety of principal. In addition, we can easily accommodate rollovers and transfers free of charge.

I will be happy to meet with you at your convenience — in your home — to discuss with you in detail how the Knights of Columbus can help you to secure the comfortable, worry-free retirement you want and deserve. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

Ways to Pay for Whole Life

We live in a world of options and we are constantly bombarded by choices. Some of these make our lives more complicated, but many of these choices are created with our satisfaction in mind.

At the Knights of Columbus, every product we offer has been designed solely for the benefit of our members and their families. When I present an option to you, it’s because a team of experts has discussed it at length to be certain it serves your best interest.

We have a few options on how you can provide and pay for the whole life coverage that your family needs. Many whole life policies call for premiums to be paid for your entire life or to age 100. But we also offer permanent life coverage with guaranteed cash values (and the potential to earn dividends, which are not guaranteed) through policies that offer a limited period of premium payments.

First, we offer “10 Pay Life” and “20 Pay Life.” Consider paying premiums for 10 or 20 years, and never having to pay for the coverage again. The plan is “paid up” and no more premiums are due. The plan stays in force, the death benefit remains intact and the guaranteed cash value continues to grow.

A plan with similar benefits is “Life Paid Up at 65.” The difference over 10 or 20 Pay Life plans is that this permanent product requires you to pay premiums until age 65. Then, premiums stop (just in time for retirement), but the plan remains in force.

Finally, the ultimate in limited pay is our Single Premium Life product. Imagine buying life insurance — permanent life insurance — and only paying one single premium? It’s possible. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

Long-Term Care Plans Offer Peace of Mind

Since its addition to the Order’s product portfolio in 2000, long-term care (LTC) insurance has provided the Knights of Columbus with an excellent opportunity to further serve members and their families. And, for our long-term care policy holders in the United States, there’s  an added bonus.

It’s called “Provider Pathway,” a program offering access to a network of long-term care providers at discounted rates. The network includes discounts on products, such as hearing aids, diabetic supplies, personal emergency response systems, and durable medical equipment, as well as skilled nursing facilities, assisted living, and adult day care.

Eligibility for participation in this program is open to Knights of Columbus long-term care insurance policyholders, their spouses, dependent children, parents and parents-in-law. All providers are fully credentialed and meet state licensing requirements.

If you haven’t yet spoken with me about long-term care insurance, you owe it to yourself to do so. There are a few decisions to make in choosing a “plan” — a comprehensive plan that covers care whether you’re at home or in a facility, or  or one that covers facility only; daily benefit amounts and benefit durations (how long it will last); and the length of the elimination period (waiting period) before benefits kick-in. Having a professionally trained agent ― and a brother Knight you can trust ― to help guide you through the process is yet another valuable benefit that comes with your membership.

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

The Value of Life Insurance for Children

As a father, you worry about your children and do everything you can to protect them. You try to raise them right and make sure they are prepared to become adults. But have you ever thought about buying life insurance for your child?

When you insure a child, you are protecting his or her future. Did you know that one out of every six adults get rated, postponed, or denied for insurance coverage? If you purchase a policy for your child from the Knights of Columbus, it guarantees that more insurance can be purchased for that child without proving insurability.

Unfortunately, as fathers we don’t have a crystal ball to tell us the future of our children. Your child could contract  a rare disease, be diagnosed with cancer, or become overweight. But did you know that right now you can purchase a child’s policy, in many cases, for less than $10 a month?

I’ve heard it said that people don’t want to “profit” from the death of a child, so they won’t purchase coverage on their children. God forbid something tragic happens, those funds can come in handy at a time when finances will be the last thing on a parent’s mind. I have never heard a story about someone who regretted buying coverage on their child.

Contact me today to discuss the many policy options for child plans, including 10- and 20-Pay life insurance. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

The Value of Membership Referrals

As a professional insurance agent, one of the things I appreciate most is when one of my brother Knight clients or his wife refers another member to me. This is a great endorsement of the service I provided. It tells me that they were so pleased with what I helped them accomplish that they want me to help others achieve the safe level of financial safety and security. When I meet with you, please pass along the names of those who might be able to benefit from the analysis that I provide.

Similarly, there is no stronger membership recruiting tool than the referral. How many of us know an eligible Catholic male who is not a member of the Knights of Columbus? Do you have Catholic family or friends, local or not, who have yet to join? Most likely, they’ve never been asked and don’t know enough about the Order to seek out membership on their own.

If you have names of potential members, please pass them along to me or your Grand Knight. Let us know if we can use your name when we contact the gentlemen in question. It’s always more effective to tell a candidate for membership that he was recommended by a current member, especially someone he knows. Don’t worry if the candidate is outside the area I serve or beyond the district of the local councils, we can make sure we put these future members in touch with the right people in their communities.

New members are the lifeblood of the Order. All the good deeds done by the Order are driven by the members. Over the past decade, Knights have given more than $1.475 billion to charity and provided in excess of 673 million hours of service. And our membership has merely scratched the surface in North America. Imagine the potential. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

Think You Are Too Old for Coverage? Maybe Not

You are never too young or too old to consider purchasing life insurance. If you have a financial need for coverage, or will in the future, a permanent life insurance policy can be just the thing you need.

When you are young and presumably healthy, coverage will be very inexpensive when compared to purchasing the same policies when you are older.

If you’ve put off purchasing coverage, or you realize that you may need additional insurance, the Order may still be able to help you, even if other companies cannot. In fact, in 2012, the issue age of our permanent life insurance products was extended to age 80. Naturally, your health, and whether or not you smoke, will be taken into consideration, so underwriting standards for risk and age apply. But, the extension is a great blessing for me – and it could be for you too. Now I can help members that I couldn’t help before. Are you or one of your brother knights one of those members?

Whether you’re 18 or 80, the Knights of Columbus has products that will work for you and your family. I 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

Knights of Columbus Announces Accelerator Term Insurance Series

Adding to its portfolio of top-quality insurance products, the Knights of Columbus announced the newAccelerator Term Insurance series available to Knights and their eligible family members, effective this July.

The new series will offer term insurance protection up to age 85, a 15-year increase from previous term products.

Level Term Insurance offered in the Accelerator Term Insurance Series includes a special acceleration feature that automatically increases the initial death benefit of the policy by five percent for each of the first five years of the policy.*

Accelerator Term Insurance is also convertible to permanent insurance, and comes with an optional full term conversion rider, which extends many of the guaranteed conversion options of the policy.

Term Insurance from the Knights of Columbus is an economical way to cover short-term needs such as income replacement, mortgage protection, debt protection, and tuition expense protection.

“We are always looking to update and to innovate to better serve our members and their families,” said Chief Insurance Officer Thomas P. Smith, Jr. “With the new Accelerator Term Insurance, we are giving our members and their families another fantastic option for protection.”

The release of the Accelerator Term Insurance Series comes amidst a year of records and firsts for the Knights of Columbus Insurance program. The program, founded by Venerable Father Michael J. McGivney in 1882, topped $94 billion of insurance in force early in 2014, while also earning its 39th consecutive year of the highest possible ratings for financial strength (A++, Superior) from A.M. Best. The Knights was also named a 2014 “World’s Most Ethical” Company by the Ethisphere Institute.

Earlier this year, the Knights of Columbus launched the Young Adult Insurance Program, which offers term insurance protection to Knights and their spouses from ages 18-to-29.

To learn more about the Knights of Columbus Insurance program and the new Accelerator Term Insurance Series, contact your local Knights of Columbus Agent.

Originally posted on7/10/14 by kofc.org hyperlink: http://www.kofc.org/un/en/insurance/news/detail/accelerator-term-insurance.html 

No matter where you are in life, you want to ensure that your family will always be provided for.

Knights of Columbus Term Life Insurance is intended to give you needed protection for a specific period of time. Coverage options include:

  • Annual renewable term policies that are guaranteed renewable to age 70.
  • Accelerator Term policies with 10, 15 or 20 year initial term periods that have a guaranteed death benefit to age 85. Accelerator policies feature premium rates that are guaranteed to remain level for the initial coverage period.
  • Term Insurance through the Young Adult Insurance Program for those ages 18 to 29.
  • Lower rates are available for larger coverage amounts.
  • Coverage that you determine – the amount you need and the payment frequency that best suits your budget.

Knights of Columbus Insurance understands that everyone’s financial needs and goals are different. That’s why we offer several Term Life Insurance products, each designed to meet your temporary insurance needs so you can plan your families’ future.

A new mortgage. Your children’s college tuition. These relatively short-term needs can be protected with Knights of Columbus term coverage. We offer a full range of affordable and flexible term life plans that keep pace with the changes that come your way.

Young Adult Insurance: For those just starting out, who may tend to have small, short term needs, the Young Adult Insurance program offers an Annual Renewable Term policy with a streamlined application and an online request for quote feature. Two coverage options -- $25,000 and $50,000 – are available.

Annual Renewable Term: Offers coverage for one year with ability to renew. Minimum coverage amount is $25,000. Coverage may be converted to a permanent plan at any time prior to the contract date nearest age 65. Insured has the option to renew, to age 70, subject to the new premium at each renewal age.

Accelerator Term Series: Available with ten, fifteen, and twenty year initial term periods. The minimum coverage is $100,000. The face amount automatically increases a set dollar amount each year for the first five years, with the final face amount equal to 125 percent of the original contract amount.* Except for corresponding premium increases with the five percent guaranteed increase in face amount on the first five contract anniversaries, premiums are guaranteed for the initial term period. After that, premiums are guaranteed at yearly renewable term rates until the contract date nearest the insured's 85th birthday. Clients who elect to purchase policies with coverage amounts in excess of $250,000, and who meet our strictest underwriting criteria, may be eligible for reduced premium rates. Even further reductions may be available to clients who elect to purchase policies with coverage amounts in excess of $1,000,000. These policies, with an optional Full Term Conversion Rider, provide conversion benefits to the earlier of the contract date nearest age 65 or the end of the term period (as long as the contract is in force) and are renewable to age 85 (subject to new premium rates at each renewable age).

Your Knights of Columbus Insurance agent can help you design the life insurance plan that best fits your goals, your lifestyle and your budget. He can also help you learn more about Knights of Columbus Disability Income, Long-Term Care, Retirement Annuities, Permanent Life Insurance, Survivorship Universal Life, and Discoverer Insurance products that provide you with well-rounded financial protection.

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

Protecting Your Family… Business?

You already know that the Knight of Columbus is here for all your personal and family financial protection needs, but did you know that the Order can help secure your business too? As your Knights of Columbus field agent, I can help you protect the continuity of your business for years to come.

Business insurance is the term used in the insurance industry to describe the use of life insurance and disability income insurance to solve certain financial needs of businesses and their owners. The products offered through the Order can cover many needs, such as:

• Economic loss to the business when a key employee dies

• Disposition of a business owner’s interest upon death or other separation from the business

If you’ve worked hard to establish a business, you owe it to yourself and your family to learn about the opportunities that the Knights of Columbus can offer.

With protection for the family, the business, the farm, retirement, long term care and disability coverage, the Knight of Columbus truly is your shield for all the elements of your life. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

The Pitfalls of Replacing Coverage

You know the old saying, “the grass seems greener on the other side of the fence,” but we all know that it rarely is. The same holds true when it comes to replacing your existing Knights of Columbus life insurance with coverage offered by another company.Perceptions are deceiving. A move to the “greener” grass on the other side of the fence might seem like a good one, but it can leave you with less green in your wallet in some cases, a lot less. That’s why it pays to remember another old adage, “Read the fine print.”

There are many reasons to keep your existing coverage in force, whether that coverage is with the Knights of Columbus or with another company. I’ll focus on the potential pitfalls of replacing coverage here pitfalls that an agent trying to convince you that the grass actually is greener might neglect to mention.

First, all life insurance contracts contain a contestability period, which allows the insurer to contest claims made for a period typically two years after the contract is issued. Chances are this is no longer an issue with your current coverage.

Second, it’s unlikely that you can obtain the same amount of coverage, for the same premium, that you were able to obtain with your existing contract. The two factors that determine how much you’ll need to pay for life insurance coverage are age and health. Certainly, you’re older now than you were when you took out your current coverage. There’s no way around that. And you have to ask yourself, has your health changed during that time? Is your blood pressure the same? Your cholesterol? Have you gained weight? All these factors can affect the amount of coverage you’ll get for your premium dollar.

If someone encourages you to replace or worse, drop your existing coverage, please call me. I’ll show you how your existing coverage is working for you and why replacement is rarely in your best interest. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

LTC Is an Important Piece of the Puzzle

There are many financial consultants and retirement authorities who emphasize the need for a long-term care (LTC) product for estate preservation and family protection. While many commercial life insurance companies have gotten out of the long-term care business, the Knights of Columbus considers LTC a very important piece of the family protection puzzle. The Order has been actively offering our members this product for nearly 15 years without a premium increase on current policyholders. Members who wisely purchased an LTC plan from the Knights in 2000 are still paying the same premiums today. Even better, our LTC coverage is backed by the full strength of the Order, which remains rooted in our strong Catholic values. Talk about stability when it counts.

If we have not spoken about your need for LTC coverage in your family portfolio, please take some time out of your schedule to meet with me.

Remember, long-term care policies are underwritten based on your health, and you most likely will never be any healthier than you are today. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.

Raising Awareness About Life Insurance

Each September since 2003 has been designated as Life Insurance Awareness Month. Like most awareness-raising campaigns, Life Insurance Awareness Month was created because there is an overwhelming lack of understanding of life insurance, its uses, its benefits, and its variations among the general public. Each year, the Life Insurance Market Research Association (LIMRA) puts out the results from a recent survey, and unfortunately, the numbers they report continue to be discouraging.

A recent survey found that more than 75 percent of people polled did not have a personal financial advisor, even though68 percent of them said their opinion of the current economic conditions was somewhat unfavorable or very unfavorable.

In other words, a majority of those surveyed were uncomfortable with the economy and the uncertainty it brings, yet they did not seek professional assistance. Maybe they spoke with their friends and family. Maybe they hoped the instability would go away on its own. Maybe they did not know to whom to turn.

If you fall into this category, please remember that as a member of the Knights of Columbus, you have a full-time, professional agent you can call your own. My primary responsibility is the care and service of your family’s life insurance, retirement and long-term care needs. I’ll answer your questions because I want your decisions to be informed ones. I want to help.

Another LIMRA statistic said 43 percent of people did not buy life insurance because they worry about “making the wrong decision.” Talk with me, your agent, and, afterwards, you’ll understand that the only wrong decision was not purchasing sooner to protect your family’s future. 

Comment

Zach Caro

As a professional field agent with the Knights of Columbus, it is my privilege to help and assist the families of our members. I see myself as an advocate for the widows and orphans of our fallen brothers. It is my responsibility to make sure that our members feel secure with the plans that they have made to provide for their families especially in times of a hardship. Not only do I represents the members, but also the benefits that they are entitled to as members of the largest Catholic fraternal service organization in the world. These benefits include term life and whole life insurance, long term care insurance, annuities, IRA's and more.