Knights of Columbus Insurance???

[LarrySarraga]

I am a General Agent at the Knights of Columbus. I can tell you that much of the information posted is incorrect.

There is no higher rated insurer in North America than the Knights of Columbus. Being a charitable fraternal allows us to keep prices down and our rate of return high.

While our agents are captive, in return they get full benefits. This includes medical, dental, vision, a non-contributory pension and 401-K.

You do get a list of approx. 800 to 1,000 members to contact. About half of them currently do business with the Order and are loyal. The number of insurance members increases every year.

Agents are NOT required to go to every council meeting (they are not called lodges.) They are encouraged to attend as many as possible to address the members. This gives him a great opportunity to market himself to the council.

No one at the councils ever get copies of late notices or lapse notices. They are not permitted to contact members about insurance issues. You need to be state licensed to do so.

I would be happy to discuss with you the merits of a career at the KofC. I have been with the company for 13 years (9 of which as an agent.) I will also let you speak to some of my agents to discuss the opportunity.

The best way to make a decision is to speak to the people who do the job.

 

[Newby]

How do their rates compare with the other charitable fraternals?

Royal Neighbors, Foresters, Woodmen, etc.

Those companies have a HUGE advantage because you don't have to be captive.

 

[LarrySarraga]

Captive agents get benefits. When you have the best product line in the industry, being captive is not a problem. I'll put my product line against any other company. The 800 to 1,000 families that you are given when you start are your exclusive franchise. No other KofC agent can sell to them. That is HUGE!

 

[VolAgent]

Captive agents get benefits. When you have the best product line in the industry, being captive is not a problem. I'll put my product line against any other company. The 800 to 1,000 families that you are given when you start are your exclusive franchise. No other KofC agent can sell to them. That is HUGE!

Just every other Tom, Dick and Harry with an insurance license in the state.

Also, NYL and NWM, among others, hold AAA still, and they also belong to the state guaranty fund.

 

[LarrySarraga]

Not every Tom, Dick and Harry with an insurance license can market to the KofC membership. Only KofC agents can give presentations at meetings and events and use the Order's membership list. Anyone else who tried to contact them would be cold calling. Our members also have more confidence in brother Knights.

In addition, as a charitable non-profit, the amount we give to charity every year cannot be matched by these other companies. This is something our members take great pride in.

And again, I'll put my products up against that of any other company.

 

[WinoBlues]

Not every Tom, Dick and Harry with an insurance license can market to the KofC membership. Only KofC agents can give presentations at meetings and events and use the Order's membership list. Anyone else who tried to contact them would be cold calling. Our members also have more confidence in brother Knights.

In addition, as a charitable non-profit, the amount we give to charity every year cannot be matched by these other companies. This is something our members take great pride in.

And again, I'll put my products up against that of any other company.

I have replaced KofC policies and also not been able to replace them.

OK, 45 year old Male, Prd nonsmoker, Need $250,000 Perm and term. What do you have?

 

[tins]

I have replaced KofC policies and also not been able to replace them.

OK, $45 year old Male, Prd nonsmoker, Need $250,000 Perm and term. What do you have?[/quote]


2 Fraternals I have:

Western Catholic Union-
45 yr old male, non-smoker $250,000 Participating whole life $5,145 Annual.

Gleaner Life Ins. Society
Same guy, same $250,000 Participating whole life
$4,645 Annual



They don't compete much with term. I'd like to see the KoC rates.

 

[degsey69]

Not every Tom, Dick and Harry with an insurance license can market to the KofC membership. Only KofC agents can give presentations at meetings and events and use the Order's membership list. Anyone else who tried to contact them would be cold calling. Our members also have more confidence in brother Knights.

In addition, as a charitable non-profit, the amount we give to charity every year cannot be matched by these other companies. This is something our members take great pride in.

And again, I'll put my products up against that of any other company.

To be a captive agent with KoC do you have to be Catholic and a member of that order as well as state licensed to join?

 

[Todd King]

I have replaced KofC policies and also not been able to replace them.

OK, $45 year old Male, Prd nonsmoker, Need $250,000 Perm and term. What do you have?[/quote]


2 Fraternals I have:

Western Catholic Union-
45 yr old male, non-smoker $250,000 Participating whole life $5,145 Annual.

Gleaner Life Ins. Society
Same guy, same $250,000 Participating whole life
$4,645 Annual



They don't compete much with term. I'd like to see the KoC rates.

RNA--45YO Male, pfd NS, 250K = 3312.50 Annual.

 

[tins]

RNA--45YO Male, pfd NS, 250K = 3312.50 Annual.

I forgot they are, also, a fraternal. Is that a participating policy? I need to start checking them more. It's one of those things you don't think about with new contracts.