Fraternal Benefits

Dan Falstad,  KofC Field Agent

(612) 310-5254, dan.falstad@kofc.org

February 2019 Note

Is your income protected if you become sick or injured and cannot work? Your ability to work and earn an income is your most valuable asset. Yet a disability could prevent you from earning that income. Just one year of a disability could eliminate your savings.

Income Armor, an individual disability income insurance product from the Knights of Columbus, should be a key part of your overall financial plan and family’s protection. If you think full income replacement is too costly, at least consider a supplemental plan such as a “GUM” plan, which would cover Groceries, Utilities and the Mortgage in the event you were off work.  And if you have coverage at work, you should consider a supplemental plan to make up for the shortfall accompanying these plans.

If you are ill or injured, Income Armor provides tax-free monthly benefits to help you meet living expenses and maintain you and your family’s standard of living. Your monthly benefits help you pay your mortgage and other monthly bills, while your savings and retirement assets remain intact.

In short, if you have a job and don’t have a way to protect that paycheck, you should seriously consider Income Armor today. I look forward to meeting with you.

January 2019 Note

April 15th (tax day) will be here before you know it. If you have gotten the jump on completing your taxes, or are still trying to organize your finances from prior years, give me a call for some professional advice. The Knights have very competitive annuity accounts that can be opened for traditional and Roth IRA contributions and rollovers to ensure you are not overpaying taxes. Our whole-life insurance plans can be customized to your needs to minimize taxes to you now as well as in your estate.

To organize your finances consider consolidating your 401(k) or IRA accounts into an annuity with the Knights. If you have had multiple employers or investment professionals, you may have retirement plans scattered all over. If you would like to eliminate the hassle of eventually contacting and drawing on all of those accounts, consider rolling them into a Knights annuity and have a local source to coordinate your retirement draws when the time arrives. Knights of Columbus annuities have no fees that will detract from your investment returns. We will handle all of the paperwork for you, and tapping your retirement savings will be only a phone call away.

I am happy to meet with you – at your convenience and in your home – to explain in detail the benefits of opening a Knights of Columbus annuity, along with the benefits of our top-rated life insurance, disability income and long-term care insurance plans.

 

December 2018 Note

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 your agent.

Three reasons for Long Term Care:

  • Protect your Assets; so you don’t have to spend down your nest egg
  • Choice of where you go; don’t let the government or price decide
  • Not be a burden on your family; do you want to live with your kids?

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

You may think or have heard that long term care insurance is too expensive.  Call me today for free to find out all the details.  You may be surprised at how affordable to benefit package can be.  And you will never be pressured to take the coverage if it doesn’t fit your budget for the long term.

 

November 2018 Note

As we look at our fellow parishioners and councils we can’t help but notice we are all aging.  And knowing the measure of the men who belong to the Knights, I am positive each of you want to leave the word a better place after you leave this world.  This probably includes providing financial support to your parishes or councils after you pass.  But many of you are reluctant to commit to this support given the possibility you may need these funds to live on or provide for surviving spouses or children.

Whole life policies from the Knights would allow you to commit a donation to your church or favorite charity by naming them as beneficiaries, while leaving you in complete control of the funds should you need them later in life.  If circumstances change and you need funds from your policies later in life, you can cash in the policy or borrow against the cash surrender values and leave the balance to your beneficiaries.

If you are in relatively good health and under age 80 you may be insurable at a significant discount to the face value of the policy you are considering.  You have the option of making payments or contributing a onetime lump sum to secure the face value of the policy.  As examples, a $10,000 policy for a 70 year old male non-smoker carries a single premium of $6,713 while the same policy on a 75 year old female would run $6,817.  Your beneficiary will receive the $10,000 or more death benefit upon your passing without these funds running through your estate.

If you are interested in exploring the options available for providing for your parish, council, or favorite charity, please give me a call today.

 

October 2018 Note

As we look at our fellow parishioners and councils we can’t help but notice we are all aging.  And knowing the measure of the men who belong to the Knights, I am positive each of you want to leave the word a better place after you leave this world.  This probably includes providing financial support to your parishes or councils after you pass.  But many of you are reluctant to commit to this support given the possibility you may need these funds to live on or provide for surviving spouses or children.

Whole life policies from the Knights would allow you to commit a donation to your church or favorite charity by naming them as beneficiaries, while leaving you in complete control of the funds should you need them later in life.  If circumstances change and you need funds from your policies later in life, you can cash in the policy or borrow against the cash surrender values and leave the balance to your beneficiaries.

If you are in relatively good health and under age 80 you may be insurable at a significant discount to the face value of the policy you are considering.  You have the option of making payments or contributing a onetime lump sum to secure the face value of the policy.  As examples, a $10,000 policy for a 70 year old male non-smoker carries a single premium of $6,713 while the same policy on a 75 year old female would run $6,817.  Your beneficiary will receive the $10,000 or more death benefit upon your passing without these funds running through your estate.

If you are interested in exploring the options available for providing for your parish, council, or favorite charity, please give me a call today.

 

September 2018 Note

Knights of Columbus life insurance offers something precious few other financial products can – guarantees. As long as you pay your premiums, the policy proceeds will be there for your beneficiaries should something happen to you. That’s peace of mind, and that’s what we offer with every product in our portfolio.

We guarantee the cash value in your whole life policies will be there.

We guarantee the rates on your term insurance.

We guarantee the rate and your principal in our retirement annuities.

On top of those product guarantees, I guarantee that I will offer professional, high-quality service that you would expect from our organization.

Our Order is among the highest rated life insurers in North America. AM Best has rated the Knights of Columbus “A++, Superior” for 40 consecutive years. It’s a testament to our track record for excellence and security.

I would suggest that a principal reason that we were able to achieve those accolades is because we remain steadfastly committed to the vision of Venerable Father Michael J. McGivney by providing life insurance by brother Knights for brother Knights.

That commitment is an essential core value of the Knights of Columbus, and our core values permeate all levels of our organization. We pledge to serve our brother Knights, and their families, according to our Golden Rule: “In all my professional relationships, I pledge myself to the following rule of conduct: I shall, in light of all conditions surrounding those I serve, render that service which, under the same circumstances, I would apply to myself.”

Let’s talk soon to discuss how our products can bring that peace of mind to you and your family.

 

August 2018 Note

Men have a special responsibility to protect their loved ones and provide for the future, but it may be difficult to know where to begin. We’ve made it simple, by laying out 5 questions everyone should know the answers to:

How does life insurance work?
By purchasing a life insurance policy and paying premiums you ensure that when you die, your beneficiary (or beneficiaries) will receive a lump sum, also known as a death benefit, or an income stream for up to the rest of their lives.

What is whole life insurance?
Whole life insurance is a permanent life insurance product that provides money to your family when you die, and builds cash value while you live. Permanent life insurance is guaranteed and a great way to provide security for your family.

What is term life insurance?
Term insurance provides affordable protection to your loved ones for temporary needs and is designed to expire as your financial obligations expire.

How much life insurance do I need?
Your life insurance needs depend on your current and future financial obligations. Working with a certified life insurance agent can help you determine how to best protect your family.  Call me today for a free, no obligation review of your needs and opportunities.

Why protect your family with the Knights of Columbus?
The Knights of Columbus Insurance program offers members and their families access to top quality products from a company with the highest financial and ethical ratings in the country. Built on Catholic business principles, the Knights of Columbus has more than 130 years of experiencing helping to protect families when it counts most.

The Knights also offer excellent long term care coverage and disability income coverage to meet your needs.  In addition, our 100% guaranteed annuity products are available for your retirement savings needs.

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