Fraternal Benefits

Dan Falstad,  KofC Field Agent

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

August 2019 Note

You have seen and been one of the Knights around the parish in action.  But what does it mean to join the Knights of Columbus? It means you are part of the largest Catholic fraternal organization in the world – with nearly two million members just like you. Knights build each other up to become good stewards of our faith and help protect our families and communities. In addition to the camaraderie and good times we enjoy as a member of the Knights you are a:

PROTECTOR OF FAITH – Our Catholic faith is central to everything we do. We offer a wide array of e-books, articles and videos to members to help them and their families grow in their faith.

PROTECTOR OF THE DEFENSELESS – Our Catholic faith strengthens our pro-life values as we stand up for those most vulnerable.

BROTHER FOR LIFE – With over 15,000 councils around the world, there is a local brotherhood for you to join and grow with as you serve your community.

COMMUNITY LEADER – From helping the homeless to disaster relief aid to widely recognized programs like Coats for Kids, the Knights are always there when their communities need them most.

PROTECTOR OF FAMILY – We offer top quality insurance products exclusively to our members to help them protect their families.  The Knights offer whole life and term life insurance, disability income insurance to protect against the loss of a paycheck, and our top rated long term care insurance policies.  One of your local Brother Knights Dan Falstad is the local field agent for our council, and will be there to service your policy or help out your beneficiaries when the time comes.

 ADDITIONAL INSURANCE INFORMATION – As a fraternal organization we only offer our insurance products to members.  But agent Dan Falstad would be happy to meet with you and your potential recruits to review insurance needs whether you are a member or not.  And if they find that coverage through the Knights is the best option, they can be signed up with the Knights instantly.  Call Dan today at (612) 310-5254 or email dan.falstad@kofc.org to discuss your insurance needs or for assistance with signing up new members.

 All Catholic gentleman are eligible to join the Knights and there is no commitment outside of annual dues to participate in our charitable, social, and church related activities.  Please invite your Catholic friends to join us, and encourage them to get involved with the Knights and actively participate in all of our activities for the good of the parish and the community.  Carry a form 100 with you to sign up friends, or assist them in going to Knights.net to register on-line.  Your field agent and council officers will contact them shortly to move them into the council.

 

July 2019 Note

Within reason, you are never too old or too young to consider purchasing life insurance. If you or your spouse wish to leave something behind to the church, a grandchild, your favorite charity, or a caring friend, you can use life insurance to leave a legacy tax free to whomever you wish without the time and expense of updating your will, trust, or final plans.

The issue age of our permanent life insurance products was extended to age 80, and underwriting standards for risk and age apply. But if you are in reasonably good health for your age you can obtain whole life policies of insurance through the Knights for single premiums of less than the amount you would like to leave as a gift.  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.

You are also never too young to obtain life insurance either.  A youth policy on a child (or grandchild if the father is a Knight) costs as little as less than $1 per month for every $1,000 face value of coverage.  This is whole life coverage which will be fully paid within 20 years and leave a lasting legacy for the child as well as provide insurance coverage for their entire life.

Young adults are normally at their healthiest and term coverage can be obtained for less than $200 per year which would be guaranteed convertible into whole life coverage with no additional medical underwriting.  This not only provides protection in case of death but ensures the ability to obtain coverage for the next twenty years while locking in their current health status.

I look forward to discussing personalized coverage with you.  Call me anytime for details.

 

June 2019 Note

From the beginning, the Knights of Columbus has been a family-first organization.  Father McGivney was striving to find Catholic men who could come together to protect and support the families in their communities who needed it most – including their own.  Today, the mission remains the same. And, as we celebrate Fathers’ Day here in the United States, it’s a great time to evaluate how we’re doing. Knights across North America continue to trust their Order to protect them and to see to it that their loved ones are well taken care of once they’re gone.  And the numbers keep increasing.  More and more members are preparing to leave behind legacies of protection for their loved ones.

But how are each of us doing on an individual level? How well protected are our families?  There are a lot of moving pieces and parts that go into calculating just how much your life is worth in dollars and cents. You’re worth far more to your family than simply a number on a page, of course, but you do provide for them.

Helping your family to prepare for life without you is one of the most selfless actions you can make.

So, this Fathers’ Day, as your family shows you how much they love you and how much you mean to them, show them how much they mean to you. Make an appointment with me for your custom analysis, and begin to build an insurance portfolio that will guarantee their protection after you’re gone.

Some of you may hold policies that your parents bought for you as a child from the Knights, MetLife, or Gerber.  If you are uncertain how those policies will be collectible upon your death please give me a call and I will show you some options that can increase your insurance and ensure prompt payout from a source you can trust with no out of pocket expense to you.

 

May 2019 Note

Many of you have taken the proactive step of purchasing whole life policies with the Knights sufficient to cover your final expenses or are at least considering this step.  If you are in relatively good health, you may be insurable at a significant discount to the face value of these policies which would then be available to cover your funeral costs whenever they occur.  The Knights will issue policies with minimums as low as $10,000, but you may want to consider a higher amount, or add an additional policy to cover funeral expenses.  Conventional wisdom was that a funeral ran $12,000 to $15,000, but recent examples seem to indicate prices are now higher.  Two basic funerals in the past month have been reported to me to have cost $18,000 and $19,000 respectively.

The Knights offer whole life policies up to age 75 and you have the option of making payments or contributing a onetime lump sum to secure the face value of the policy.  The Knights have recently added guaranteed issue policies of $10,000 up to age 65, and $5,000 up to age 70 which can serve as final expense policies or a supplement even if you are not insurable.

Whole life policies from the Knights can also be used 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.

Please give me a call today to review the coverage you currently have and to determine if it will be sufficient for what you are trying to accomplish.

 

April 2019 Note

Spring is right around the corner (or so we hope) and with it brings growth and a sense of renewal as the natural world awakens from its winter slumber.  We need to have the same reawakening with the councils as we move forward   We are all aging and we need to recruit some of the younger men from the parishes to continue and improve upon our work in the future.

If you would like to help out the councils after you can no longer participate physically, consider a legacy gift in the form of life insurance naming the council as beneficiary.  You can do this with any charity you wish and still have control of the funds while you are alive.

Whole life policies from the Knights would allow you to commit a donation to your council, 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, 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.  If you are interested in exploring the options available for providing for your parish, council, or favorite charity, please give me a call today.

 

March 2019 Note

A few months ago I suggested you consider consolidating your 401(k) or IRA accounts into an annuity with the Knights.   If you would like to eliminate the hassle of eventually contacting and drawing on accounts from multiple employers or trustees, 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.

I would like to further suggest that you open non-qualified annuities now in your own and spouse’s name to provide flexibility for funds in retirement.  These accounts can be opened for a minimum of $300 and sit idle while earning interest, and be available if you or a spouse eventually has funds to deposit from the sale of a home, life insurance proceeds, or required minimum distributions from your IRA accounts.  If these accounts are not established in advance, your spouse will lose the ability to open these accounts one year after your passing.

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.

An added benefit if you open an account “just in case” in your name is that you become an insurance member of the Knights.  In addition to benefiting the council, being an insurance member gives your surviving spouse and children access to KC products after your death.  Why not take advantage of this no cost option.

 

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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