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Knights of Columbus Insurance Review & Complaints: Life Insurance

Knights of Columbus Insurance reviews find a list of basic insurance policies that include long-term care, disability, annuities, and life insurance coverage for members of the fraternal service order. Knights of Columbus Insurance quotes are available only to members, and there is a Knights of Columbus membership fee of $30/yr.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best...

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UPDATED: Sep 9, 2020

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The Knights of Columbus is a Catholic fraternal benefit society that was established more than 140 years ago to provide assistance to parishioners in need. They provide life insurance, long-term care, and disability insurance across the U.S. and Canada on a membership basis.

Our Knights of Columbus insurance review will cover everything you need to know, from policy options to Knights of Columbus life insurance rates.

Before you read our full review of Knights of Columbus Insurance, take a moment to compare rates free. Enter your ZIP code now to see cheap life insurance rates for you.

About Knights of Columbus Insurance

Like many faith-based fraternal societies, the Knights of Columbus was created in response to the financial hardships experienced by members of a local parish and a desire to provide assistance. The group was created in 1882 in New Haven, Connecticut by the parish priest at St. Mary’s Church and a group of men from the parish. A big part of the goal of the Knights of Columbus was to create a pool of resources that could be used to help members in times of need – specifically the death of a breadwinner in the household.

The group expanded over the years and today has nearly 2 million members throughout North America. They are the largest and best known Catholic fraternal society in the world, referring to themselves as the “Church’s right arm”, and are active in charitable activities in addition to insurance.

The group remains a membership society open only to practicing Catholic men over the age of 18, but insurance products are available to both members and their families. Products are sold through agents, all of whom are members of the Knights as well. Membership has an annual fee of $30 a year, and it comes with a variety of benefits including survivor assistance following the death of a member.

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Knights of Columbus Insurance Products

The Knights of Columbus offer a handful of basic insurance policies aimed at reducing financial burdens in times of illness or death. Life, long-term care, and disability insurance are the main products; they also offer annuities.

Life Insurance

There are both permanent and term life insurance options available.

Whole life insurance is available in either single premium or monthly payment premium versions, allowing policyholders to pay in whatever way is best for their needs. The listed payment options are:

  • Single premium
  • 10-pay, in which premiums are spread out over 10 years
  • 20-pay, in which premiums are spread out over 20 years
  • Paid up at 65, a plan that allows the premiums to paid in full by age 65
  • Paid up at 100, which is essentially a standard monthly payment plan. The plan is paid up at age 100, but since not many live to that age it can be considered a lifetime premium plan
  • Graded premium, which starts with lower premiums that increase over time and eventually level off.

Term life is offered as an annual renewable policy or in 10, 15, or 20-year terms. The Accelerator Term plan allows the death benefit to increase over time by 25% in order to keep up with inflation.

There is also a Young Adult product aimed at those 18-29. This is a low-cost annual renewable plan.

Long-Term Care

Long-term care insurance is available with a variety of options to choose from and includes a 30% discount when a member and spouse apply for coverage together.

Coverage can be either comprehensive or facilities-only. Benefit period options are 3, 5, or 10-year, and a daily benefit amount can be selected by the policyholder. Plans can have an elimination period (time before benefits kick in) of either 30, 90, or 180 days. This is a lifetime period.

Disability

Disability income insurance is available with benefit period of two or five years, or the option to extend benefits to age 67, providing income until retirement. Again, a monthly benefit amount can be selected by the policyholder. Elimination periods are the same options as the long-term care product.

Annuities

The Knights of Columbus offers a variety of annuity options, including single premium and flexible premium, to provide income assistance in retirement. Traditional annuities, Roth annuities, and Tax Sheltered Annuities are among the choices.

Knights of Columbus Insurance Rates

The company’s website does not offer rates, and quotes are only available from a Knights of Columbus agent. It is not clear whether you need to be a member to get a quote from an agent, but since you do have to be a member to buy a policy it seems likely that they focus their sales efforts on existing members or on those considering membership.

The $30 a year membership fee is not a large amount, but it does need to be added to the calculations when comparing cost. If you are already a member or looking to become a member regardless of the insurance aspect, it’s likely a non-issue.

Knights of Columbus Insurance Claims

We were unable to find any claims information on the Knights of Columbus website. There is a Knights of Columbus insurance login area for members, which may be where claims information is located or may just be to make a Knights of Columbus insurance payment online. Claim info is, of course, likely handed out with the policy when issued.

It is unusual to see a life insurance company that does not mention claims at all, not even to provide a claims phone number on the website. Even the contact page does not offer a Knights of Columbus insurance phone number, only a contact form that can be filled out and submitted. Contact your Knights of Columbus insurance agent for help with claims.

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Knights of Columbus Insurance Ratings and Consumer Reviews

Knights of Columbus Insurance has been Better Business Bureau (BBB) accredited since 2002 and has an A+ rating. There are no complaints or reviews listed on the site and no indication of Knights of Columbus insurance fraud.

There are 16 reviews on Pissed Consumer, most of which are in regards to insurance but a few of which seem to be directed at the order in general. One, in fact, is a complaint about an incident at a Knights of Columbus bingo hall. Complaints in regards to insurance are generally about claims issues, but there are also two reviews from former agents. All of the comments are negative. Taking out the reviews that are not about insurance, however, we are left with a low complaint volume.

Knights of Columbus Insurance Review: The Bottom Line

Insurance through the Knights of Columbus might be worth a look for those that are already members of the order or are inclined to become members. The products themselves are not likely to be the impetus for joining. We do not have rates for comparison, but we do recommend shopping around if the best policy at the best price is of greater importance to you than the source of the policy being associated with the Catholic Church.

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About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

85 Comments

  1. I’m a second-generation 4th degree Knight.

    My father, who did wonderful work in our council and the district, recently passed away.

    The claims process was made very easy by our rep Mark.

    When my car broke down and I had to share with my wife, who also works, I was in desperate need of those funds to purchase another car.

    When they received the death certificate, I called the home office and spoke to Debbie in claims.

    She was such a great help in getting the process expedited and was even able to overnight the check to me.

    Overall, a great organization and I have multiple policies with them. 5/5 stars for sure.

    Reply
  2. I’m sure it can be overwhelming to see so many negative reviews about the Knights of Columbus especially if you are an insured member.

    The fact is many negative comments might get posted but good news doesn’t travel as far.

    I’m positive that if just my assigned members wrote their positive reviews on this page it would not be able to hold them all!

    I have been a field agent for the KCs for 5 years now and I give excellent service to my members.

    If you look at the history of the knights insurance it will show that it has prevailed for its members when others failed.

    It also can be frustrating to see turnover on agents but there are many of us here that are in it for the long haul.

    I hope to continue serving my membership for the next 30-40 years with great service and understanding of our products!

    The Catholic difference is truly one of the reasons why the knights insurance is so good!

    If you do not have a qualified agent in your area it is still possible to get a hold of a general agent to answer questions about insurance. Don’t give up!

    I pray there aren’t agents out there looking to line their own pockets at the expense of the membership! This is not how we are trained.

    We are trained to be servants not salesman! I have never had to try to be a salesman ever! My service and the products speak for themselves.

    God Bless you all and God bless the work of the Knights of Columbus!

    Reply
    • Please contact me and my husband.

      Our Agent had been giving us the runaround..we have to move our retirement funds.

      Cause Last 3 years only making 2.0 percent, That’s not even up to the cost of living.

      We are losing money. Please help. Jo Anne and Roberto Garvia

      Reply
  3. I’m a 5th generation Knight (4th degree). When my grandfather passed away I was assigned to Europe and wasn’t at home but from what I hear the KoC insurance came through quickly and smoother than the family had expected.

    My wife and I currently have large policies that expire between 20 and 30 years, I don’t have it in front of me at the moment, which our children will be grown and on their own by then.

    We also have whole life and long term care and our premiums won’t go up. We’re both in the medical field so we see what happens when people don’t plan for the inevitable while they’re young.

    It’s true that the KoC insurance agents will push stuff you don’t need. That’s their job.

    Just say “no” if you don’t want it. It’s also ok to say that you want to do a little more research on the policy before you commit.

    You’re also allowed to say “stop being pushy and get out of my house” lol.

    Reply
  4. In the past two months, we had a Knights of Columbus agent come to the house and I told him that we would not have KofC Insurance ever again. Approximately, 20 years ago we had an agent tell us that our policy had been paid to date and all we had to do his write pay premium with dividends, no loan was take on policy. A year or so later a new agent came to the house to review our policies and he informed us that we had taken a loan against the policy and the money was not there? We explained to him what our previous agent had advised us to do, and the new agent said that was incorrect and our previous agent had misinformed a lot of KofC policyholders. We “LOST OUR MONEY” ON A POLICY WE DID NOT TAKE A LOAN ON. WHERE DID IT GO? Therefore, we discontinued our other two policies along with the Knights of Columbus. Get this, the agent that came to the house recently said, “Yes that happened to four clients in this area at that time”. My question, why was it not corrected by the Knights of Columbus, and those 4 clients be reimbursed for the money that they lost????

    Reply
    • Hi Virginia the previous agent was referring to the dividend that would pay for your policy which at the time was correct advice however unethical as well because dividends are never guaranteed they are simply a return of excess premium.

      At one point the dividends were paying for policies but that was before 2008 happened and federal interest rates went to zero.

      At that point when the dividend wasn’t paying all of your premium, you should have received letters from the home office stating your policy was APLing (automatic premium loan) this is where the cash values are loaning against itself to pay your premiums.

      Reply
      • I just checked our three policies and they all have a guaranteed minimum return rate.

        It’s in writing on the policy and the actual build up of cash value has been higher than the printed minimum.

        Reply
  5. Hi Sharon, If you have had your policy for 20 years DO NOT CANCEL IT!!! You will never get life insurance that cheap again. If you can’t reach your agent, talk to someone for free advice, learn more about what you have and what makes it a great product. You have benefits with this that you do not even know about. If you did already cancel….get it back!!! It hasn’t been long enough yet and they will probably still honor restoring it. You have lots of cash value creating more and more cash value all the time compounding for you without down years and all that growth is tax-free and it can help in your retirement and one day a loved one will be the beneficiary. God Bless.

    Reply
  6. Hi Martin, You absolutely can and in some cases should borrow against your policy. That is one of the main reasons for buying this form of permanent policy aside from it being there for your loved ones no matter what. It is absolutely feasible that you can borrow from your policy and depending how long it has been in force, it grows more than you withdraw each year from the continuing dividends. Also, with the proper paper trails, you can borrow for a business need instead of a bank, and write off the loan interest. You can use it to supplement your retirement income as well… tax-free. Especially if your children are well off, and you’re ok with the death benefit reducing by the size of the loan. Best is to ask your agent for an in-force illustration and a thorough explanation of possibilities. God bless.

    Reply
  7. Sharon, first of all, Life Insurance, even Whole Life is NOT an investment. It is permanent life insurance, that is guaranteed to pay your beneficiaries the face value death benefit for as long as you live (maybe you are that beneficiary so be thankful) plus accumulated cash value. You can use that cash value during your lifetime, (no credit check, no questions asked, get your money in 2-5 business days) and you are able to borrow it TAX-FREE! Try that with your mutual fund, or 401k. Not only that, but your agent set up your policy so that you only pay for 20years! yet, the policy lasts your whole life!! Not like term, that could expire right when a spouse or relative you care for might need it most. The fallacy about “buy term and invest the rest” is that no one takes “the rest” and invests it! They typically spend it. Guess what else… if you get sued its likely that all that cash value of the life insurance policy is protected from creditors! Your whole life policy is also Guaranteed to grow its cash value. Is that true with a mutual fund?….NO! You have a good policy. You (most likely) had a good agent. You just haven’t understood what you are holding, and I’m telling you its very valuable and you should be happy. The KofC has a good history and strong rating that’s why they have a good BBB rating. Its safer than the stock companies selling life insurance and most likely your cash value grew very fast too. The difference between me and this site is that I’m not selling anything here.

    Reply
    • We don’t need to borrow money and we’re still paying after 20 years so I do need to find out what is going on. I hope you are right about what you are saying! We didn’t cancel, we keep thinking pretty soon the dividends will pay the premiums but it hasn’t happened yet. We bought the policy right after we were married and we’ve been married for 23 years so something isn’t right.

      Reply
      • Remember to call or write the office if insurance commission in your state.

        Let them know in detail with copies of your policy & all paperwork, especially paperwork you signed.

        They may investigate the matter if there is a pattern of inaccuracy with an insurance agent you are having problems with.

        They will be fined, their insurance license canceled or even arrested if criminal wrongdoing has been found.

        Reply
  8. The Knights of Columbus agents are incentivized to sell you life insurance products. Every field agent gets paid on commission only, and they are pushed by their boss to sell even more. More often than not people buy products that they probably don’t need because the agent insists that they need it. I would follow what the author wrote. Find a solid pay by the hour insurance agent and pay him an hours worth of time to review the best products. Avoid buying whole life insurance unless you have a specific reason for buying it. Hyperinflation and a lack of dividends will make that police worthless in 5-10 years.

    Reply
    • What Bob says is completely False!

      I have been a Knights of Columbus agent for almost 5 years now and I have never been pushed by my superiors to sell products to the membership.

      In fact, I have been trained to serve the membership to the best of my ability and the sales will come when products are needed.

      Yes, I work off commission and I need to provide for my family as well!

      I began this career because I thought it was the best way I could serve my fellow Catholic brothers and sisters while sharing my faith and the truth of Jesus Christ.

      I try to fill out an accurate needs analysis with everyone I meet with and we try to determine together the proper need for insurance.

      I have never had to try hard to sell anything to anyone. I’m not there to be a salesman.

      Over half of all my appointments are usually service and not sales. I’m there to problem solve and find solutions if needed.

      No one purchases something they don’t need. They see that I’m looking out for their best interest.

      Furthermore, the Knights of Columbus have some of the industry’s highest ratings and have been named most ethical company consecutively.

      They have never had a zero dividend and their whole life permanent insurance is guaranteed to go up in value for life.

      It cannot go backwards or be worthless in 5-10 years.

      Bob’s ignorance shows that he thinks all life insurance companies and products are the same.

      The Knights of Columbus products are superior! God Bless You!

      Reply
      • Steven, I agree. My Husband and I have two whole life policies for a very long time.

        Every year we receive dividends and the policies continue to grow.

        We have had these policies for over 30 years.

        Reply
      • How many insurance policies are you required to sell a month?

        Reply
  9. We never had life insurance other than what I had from work, after being laid off my wife was diagnosed with breast cancer. Now it was stage zero and she opted for a mastectomy so I’m not looking for sympathy but it made us look at our situation. Married, two kids, house, cars and maybe college. I’m a current member so I got some quotes, her father was a manager for a big name insurance company so he also looked around. I was easy for KofC for a healthy none smoker 45yr old – $250k 20yr term for $645 annually. Wife was difficult, best we got from outside was call us in five years if she’s still alive. KofC gave use a 100k renewable annual term for $1107, it had a three-year rider because of the cancer. After three years her premium is only $428 annually.

    I’m not saying KofC has the best insurance or agents but my experience has been great, the covered us when no one else would.

    Reply
    • I am truly sorry about your wife and wish her, and yourself all the best.

      It was easy for them to give you that rate… You will never collect.
      Try contacting your agent and say you want to make a change or something and find out how available he is.

      This is the same person you have to connect with to make a claim…

      Good luck will not do it… Look at the reviews…

      They are well coached on how not to be available for anything other than revenue generation.

      The whole organization is a shame – set up to identify and win the preliminary trust of unsuspecting Victims.

      May God be with you

      Reply
      • I’m confused to why John says you will never collect or you won’t be able to get a hold of an agent. Its so easy today to contact and agent. You just go to the website and type in your zip code and the nearest agent and his phone number shows up. Also you can leave your info and an agent will call you! If you can’t get a hold of a field agent there is a general agent covering a larger area that will get you to the nearest field agent or he will come see you himself. The Knights of Columbus Field Agent service in my area has always been superb in the 10 years I have been a member!
        The Knights of Columbus is a wonderful charitable organization and their insurance is the best around!
        God Bless You!

        Reply
    • I feel sorry for John. He seems to spend his days complaining about the Knights of Columbus. I have been a member since 1980 and have not experienced any of the problems John says he had. My wife, my daughter and I have insurance and IRS’s with them. We never had a problem having them change a beneficiary or updating projections. We are on our fourth agent from the K of C. We’re at least on our fifth agent for MetLife auto and home. On our old John Hancock policy, which the KofC agent advised us to keep because of accumulated value, we don’t even have an assigned agent.

      Reply
      • Pete,

        God bless you for your pitty.

        Its called helping others be informed.. !!!!!

        The Knight like to go on the treating you like a mushroom policy. I’m not a senior however they know if you are, you will give up before they give in.

        Your loved ones will be the ultimate judge..

        Reply
        • Thank you, John for keeping others informed. I should have looked closer at reviews before signing up with KOC Insurance.

          I have disability insurance with KOC and I have been struggling to get ahold of the person who deals with my claim just to ask some simple questions. I am not asking anything complex – just general questions about the claim process and if in my situation I should be applying or wait and see how my injury pans out. She doesn’t answer the questions and says to fill out the paperwork and gets off the phone as quickly as possible. I filled out the paperwork but I still have a couple questions and she does not return my calls or the voicemails I have left and now I have been dealing with this for months without real answers.

          Reply
          • Every KofC agent works for their local assigned area. Selling insurance is their one and only job they need to feed their families, no different than anybody else. If you are not getting quality service from one agent, go above there head and call the corporate office and explain the problem. If nothing improves in a few days or a week then call corporate again and tell them you will be posting an official negative review on BBB and you will be calling the state insurance board. That should get their attention.

          • Joanne Its the job of the field agent to work with insured members with their claims not the customer service lady.

            Try not to go around them. It is easy to contact an agent in your area through the kofc.org website.

            If you don’t have an assigned agent then there is a general agent in your state that will work with you.

            There are few companies that have quality insurance products like the Knights of Columbus. You made the right choice insuring with them!

            I’m sorry if you are having problems getting the info you need but if you are truly trying your best to reach out to an agent then you will be taken care of!

            God Bless You!

    • I have been living in the same place for 29. Years

      I need help I am no longer getting my KOFC INSURANCE BILL

      I am not sure why they stopped coming.

      I don’t miss payments.

      Help.

      Reply
  10. I have been with KoC since 2005, since then I talked to the replaced agent Once! (Funny how we all have replaced agents) I was trying to see if I can change my policy because I no longer smoke. Well, when he came he was more interested in getting rid of his dog then talking to me about my policy because the dog had to be gone by the weekend because he wanted to leave on vacation and couldn’t because he had the dog, and that was only 2 days away. I told him I would ask my daughter, and let him know. So, I tried to talk again about my policy and he said he had to leave and get back to me on it.. Well, the next day he called to say he will drop the dog off for her at 4 pm, I told him that my daughter hasn’t got back to me so I don’t know, and can not take the it, he then got all upset, and now refuses to talk to me at all!! I have been trying to talk to someone for awhile now and the only one I can talk to is the very, very, very, very rude lady who answers the phone when you call the main number, and she is of no help at all!! I even have to change things on my son’s policy too!! This is a farce, a joke and above all a scam!! Really KoC over a dog which I didn’t want in the first place!! And really didn’t have to take in too!! Really, People Over A Dog that wasn’t mine but the agents, who I just met that day he came!!!!

    Reply
    • It just sounds like you have a bad agent. That’s not really reflective of the company itself. I would try and call the main customer service line and not the agent’s line, and state plainly your agent was poor and you need a new one.

      Reply
      • The main customer service line just directs you at best to the General Agent, who refers you back to the agent.
        It’s clearly part of there game. These are the same people you have to connect with to make a claim.

        I wanted to make a change in 4 of 5 kids policies ( A mere $4800 in fees over a lifetime). A signature in front of your agent was required. I could not connect with my agent in person for the 5 minutes this would take over the course of 5 months… Do we have to meet at night, I’m all booked up (until cows fly), Friday night is date night. This guy was merely 20 minutes away and he could not make this happen.

        If he, and his General agent were unavailable for this where do you suppose they would be for 500,000 claim.

        Reply
    • I have been with the KofC for over 35 years. I received my MBA with honors and know how to price things. The Knights have a better financial rating than most other insurance outfits. Check for yourself. First, never take out loans against life insurance or your retirement plan. That goes for the Knights and even more so for the for-profit companies. We have life insurance from the Knights, plus older policies from John Hancock and Met Life. The insurance from the Knights builds up added insurance FAR faster and, of the three, has better ratings. Sure, over the years, I had one lazy agent, but the other agents were fine. I have never had an agent do anything against my interests. By the way, our IRA with the Knights has done a lot better than the one the bank sold us. For what it’s worth, that’s our experience.

      Reply
    • Had KOC insurance for over twenty years. Financially strong with good products but service is very poor. Field agents turn over every couple years so they typically know little except the newest products and misinformation is common. Think lots of reputation damage past 25 years. Standard pitch 20 years ago were dividends were so good they would cover premium after 10 years. Still, have illustrated projections but are triple what really happened and the dividend will never carry policy. The company never addressed issue leaving lots of policyholders confused and bitter.

      Reply
  11. KofC is mostly a charitable organization and I feel good supporting that but the insurance is expensive and whole life is a bad investment. I’m trying to figure out why we’re still being charged a premium when was told that after 8-10 years the cash buildup would pay the premium. I have an app with our agent tomorrow to see what is going on. You will get a lifetime payout starting at age 60 or 65 (your choice when you start) but if we’d invested the money in mutual funds instead of buying this whole life insurance policy, we’d be way better off. The insurance itself is pretty expensive as all whole life policies are. Most financial advisers don’t recommend whole life. Buy cheap term and the older you get, the less you need it. Ok, I was wrong, my husband just looked at the actual policy and we actually pay into for 20 years. Makes it even more expensive and a bad investment

    Reply
    • Not necessarily. You could have invested in mutual funds and lost it all. The thing you have to consider is that with Whole life insurance, you are guaranteed to leave behind the death benefit. That’s why you pay more in general. With Term, you are paying for protection. After 20 years, its fully paid up and you never have to pay it again. In a sense, you got a guaranteed x amount from your insurance to pass onto your beneficiaries. Not bad at all.

      Reply
      • Wrong, it’s a bad investment. You’d have to be a complete idiot to loose all your money in mutual funds. I know nothing and have done very well with them over the years. Whole life is a bad investment and ANY financial advisor will tell you that. I’m just trying to decide if I want to keep putting good money on top of bad. AND we were told it would pay for itself after 10 years. It’s been almost 20 and still doesn’t pay. I’ve been told by others it will NEVER pay for itself.

        Reply
        • It doesn’t make sense to compare investments in different products. Whole life insurance investment is governed by its own regulatory rules. There is no chance of losing all the money in a mutual fund. Still, the performance of a mutual fund depends on the underlying investment you have selected. Investments in stock-based funds tend to perform better (there itself it depends on a number of factors) compared to bonds, whereas money market based mutual funds are the worst of all investment products in the last decade.

          Reply
    • You are absolutely right that it is a bad investment. I’m In the same shoes.

      Reply
      • Whole life insurance with the Knights of Columbus is NOT an investment.

        But if you want to compare it will have better guarantees then any investment and over time will have outperformed many investments.

        Later on, in retirement, it can be cashed in and turned into lifetime income.

        It is a much better deal than buying term and investing the difference!

        Make sure you talk to an education agent to get the facts!

        Reply
  12. I bought and paid in full for a life insurance policy a few years ago.
    Eventually I made a loan against the cash value.
    Now I am wanting to know what interest rate is paid each year 0n the cash value of a paid up policy?
    I am trying to d3cide whether or not to pay back the loan or to invest the money elsewhere.

    Thank you for your help.

    Reply
    • It’s best you re-invest the money elsewhere. I did the same thing and I have been ripped off ever since from the K of C Ins. Every year your pay-back interest WILL go up! And if you don’t pay the loan back YOU WILL owe a lot more money than you had borrowed! And when it comes time to cash in your policy the money WILL BE deducted from your policy FIRST! I’ve had 3 policies since 2003 and found out the hard way. 99% of their agents are clueless and don’t understand what they are selling you. I also found that out the hard way. Good Luck.

      Reply
      • It is best to pay back the loan in the life insurance policy! First of all, you shouldn’t take out a loan unless it is an emergency.

        Also where in reality can you take out a loan anywhere and not expect to pay it back with interest????

        These life policies are designed to be available so you can access cash in an emergency and without taxation on the gains.

        You still have the life coverage while the loan is out and you want to pay it back so it is there the next time you need it!

        Of course, if you don’t pay it back it will accumulate interest every year. That’s how a loan works.

        The dividend over time will add value to your policy faster than money in the bank or even better than many investments can over time.

        Live till retirement and you can use the cash in the policy and give yourself a paycheck for life!

        Keep your policy in good shape and it will always be there to take care of you for life!

        Reply
  13. Do not buy Knights of Columbus insurance products. They hire sleazy salesmen and have no regard for customers. They told me that I’d never have to pay money out of pocket and then pulled a bait and switch and began asking for more money. Very bad experience, please do not fall for their religious affiliation, they prey on older people such as myself.

    Reply
    • Ya, seems indicative of the whole a Kof C insurance company.. can you imagine if you had to make a claim. Which can only be done through the [redacted] agent.

      Reply
    • There is nothing sleazy about the Knights of Columbus.

      Sorry if you had a bad agent but I’ve been a field agent for the Knights almost 5 years now and I pride myself in my service to the membership.

      I have never pushed sales on my members and that is how I was trained by my superiors!

      They said if I can’t be a good servant to the membership then they didn’t want me as an agent.

      The Catholic difference is truly what makes Knights of Columbus insurance one of the best!

      I also spend much time with my older clients and widows and widowers even those who can’t buy insurance anymore.

      I also do everything I can to make sure claims are paid as promptly as possible.

      I have great respect for the K of C organization and I look forward to serving my members and their families for decades to come!

      Reply
  14. i have been trying for over a month to get my policy as it was bought by my grandfather as a child. He passed away and I have no idea what kind of life insurance policy I have. I have sent emails and called and noone responds to me… this insurance is a joke and I want to cancel it but of coarse I would actually need to be able to get ahold of someone to send me to the paper work to do so.

    Reply
    • [Redacted]
      Agency Assistant, Agency Department
      Knights of Columbus Supreme Office
      One Columbus Plaza
      New Haven CT 06510-3326

      Phone: [redacted] FAX: [redacted]
      E-Mail: [redacted]

      Reply
  15. The three standards of being a Knight are Charity;Unity, and Fraternity—all three of which they failed to show me when I tried to file a claim on the Long Term policy for my wife. I was taking care of her 24/7 for over 6 months and when it got to be to much for me I hired a caregiver. I was trying to establish a point in time where she needed that round of clock care( I was not trying to get money for what I had done) the person who called back said they don’t count what I had done and therefore they denied the claim for the caregiver. I had paid in more than $15,000 dollars since 2010 and was only trying to get $1,900 back for the caregivers. What really hurts is the fact they told me what I did didn’t matter, well I’ll I tell you it MATTERED to me wife before she passed away. Then on top of that we had taken out a small policy to cover burial expenses only to find out they wouldn’t pay that either because in the fine print there was a 2 year waiting period and it was 18 months old. I am done with the Knights!!!

    Reply
  16. Solid financially. Very competitive rates. Customer service definitely hit-and-miss.

    I am a Knight and have had policies with KCs for over 20 years. I have an MBA, own a small business, and consider myself financially astute. Also very tight with a $1 as my family and friends can attest lol. So feel very qualified to review the KCs.

    The products and rates are very competitive – and I have shopped them. The central organization is strong, both processes and financially. The problem is the local field agents who are the sales and service point of contact – as several people note above.

    Very few of the field agents stick around very long, and most are not very experienced. Many give it a try as a career, find out it is not a job that you can do full time and make a good living so they move on. Many work a regular job and do this on the side. I don’t think I have ever had the same agent for more than 2 years in a row. So it’s always “the new guy” who doesn’t really understand everything yet. Can be very frustrating to chase them down for stuff, or wait for call backs as they try to figure it out. Would not be shocked if some of them gave bad info on the products based on inexperience, though it has not happened to me.

    What happens is you end up going to their supervisor – the regional agents, who are career guys and very professional. They are busier of course and harder to get on the phone, but they know their stuff and get things done right.

    My recommendation is that if you are a Knight (or just generally Catholic) – the KCs are a good and safe option. Just know that if you get the feeling like the field agent doesn’t seem to quite know what he is doing, he probably doesn’t! Have the regional agents phone # and email at hand.

    Reply
    • I suffer from all the same problems you do with the KOC. I joined the Knights in the late 90’s and have three 10K policies. A nightmare to deal with. But I still keep the three whole life polices.

      Reply
  17. My brother has had 2 insurance policies with K of C for many years. Faithfully he has paid his premiums. We now are trying to get him in the VA attendant care program since he has just entered an assisted living facility and he needs financial assistance. I need to obtain face value and death benefit amounts for the 2 policies to complete the financial forms. I’ve been trying to obtain this information since the beginning of August with no results. The people I have spoke with are nasty and have promised results but they don’t even have the common courtesy to call me back. And this is suppose to be a Christian Catholic organization? I don’t think that they are acting very Christ like!!!

    Reply
    • you need to contact your state insurance commissioner.

      Reply
      • Contacting the state insurance commissioner is an excellent suggestion – thank you! We are dealing with a policy that my elderly grandmother has decided not to renew. Lo and behold, she has received a piece of mail that the Knights of Columbus have made a loan in her name, utterly without her permission, at an interest rate of 4.20%. Oh, sure, that’s not predatory behavior or anything. Since this is not how real loans work in our world, we’ll be taking care of this elder bullying, but I had not thought to involve the state insurance commissioner.

        Reply
        • Actually, it is in the original contract that she signed that says if she stops payment there will be an automatic provision of the loan.

          This ensures that the policy won’t collapse because of missed or late payment. It protects the insured.

          There are ways to make changes to the policy if the insured doesn’t want to make payments anymore.

          The field agent will help you with this.

          You probably have this resolved by now but it’s pretty evident there was no elder bullying here.

          You just didn’t have a proper understanding.

          The Knights are great!

          Reply
  18. I don`t know if the K C insurance would cheat you on purpose but I do know I have had lots of agents over the years and some do not understand the job . I am very afraid of these people as I have a lot of money invested in this company and I believe some of the complaints are justified . I suspect some of the agents are under qualified for such a serious responsibility . The agents don`nt last long they must be paid too poorly to want to stay . Think I will try to roll some of my retirement IRA to a local agent from another company who has been around town along time and will give me more dependable service . I am 70 years old and believe I have a fair understanding of my business . I been with the KoC insurance for about 40 years . I am not running them down . I just think they are not serious enough about customer service when you get more at stake with them .

    Reply
    • Ok, so you say you’ve been with the KofC for 40 years. Does your dividend pay your premiums? That is what you are told when you sign up only to find out it doesn’t. I know we were told after 10 years that it would and it’s been almost 20 and it still isn’t.

      Reply
  19. There is a difference in trusting and “smart trusting”. Smart trusting means you fully understand things and if you don’t understand them, you need to ask direct and complete questions, writing responses down if needed. If you still don’t understand, you need to repeat the process as many times until you DO understand them. After that you also have the choice of asking an attorney to be present to make sure everything is legitimate and as you have requested. If you aren’t getting answers from a particular agent, you also have the option to contact KOC directly and request to speak with a different agent. The truth of the matter is that they are incredibly overworked and typically have huge territories and customers to follow up with. They are doing the best they can. At one time I, too, thought our KOC agent may have misled us, but the truth is, I had misunderstood him. Annuities are very complicated to understand. The average person doesn’t get it. Educate yourself before making unnecessary hurtful remarks about an organization that is rated so highly, takes such good care of its investors and who provide safer, more secure investments than most banks and credit unions. If you seriously think one of them purposely duped you for the commission, you know very little about the Knight of Columbus or the Catholic Faith. If you report any suspected misconduct to the KOC directly, they WILL investigate the agent. Thank you

    Reply
  20. I HAVE A LONG TERM POLICY WITH THE K OF C. I HAVE BEEN GETTING BENEFITS SINCE JANUARY 1, THEY SAY THE STANDARD TIME FOR PAYMENTS IS 10 BUS DAYS I HAVE YET TO GET A CHECK ON TIME. ONCE HEY SAID THERE WAS A BLIZZARD AND PERHAPS IT WAS LOST. I FAX THE BILL ON THE LAST DAY OF THE MONTH AND MAY WAS NO EXCEPTION. WHEN I CALLED I WAS TOLD THEY HADNT RECEIVED THE INFO TO PROCESS THE CHECK, I TOLD THEM THEY RECEIVED IT ON MAY 31 11;02AM THIS IS 06/19/17 SURELY 19 DAYS IS LONG ENOUGH TO WRITE A CHECK AND GET IT IN THE MAIL THE EARLEST I HAVE RECEIVED THE CHECK WAS ON THE 17TH OF THE MONTH. WHEN I WAS PAYING FOR THIS INSURANCE IF I WOULD HAVE BEEN LATE EACH MONTH I AM SURE I WOULD HAVE BEEN TOLD ABOUT IT.

    Reply
  21. My father went to a nursing home last May. Due to the high costs we decided in October 2016 to annuities his annuity with KofC. I contacted an agent, have worked with the national offices and now over 4 months later we have not received a check. If my 86 yr old mother would have been doing this she would have given up months ago. The worst customer service I’ve ever experienced.

    Reply
    • Contact me and I will make sure we get your father’s annuity taken care of Charles.turino@kofc.org. We don’t have national offices.

      Reply
    • My dad passed away in early May. I’ve been calling the field agent for two weeks. No calls returned.

      Reply
  22. I have three $10K whole life policies with the knights since 2004. In March 2013 I took a small loan against the three policies. The agent told me that the dividends would pay off the loans in about 3.5 years. It’s been 4 years now and all three loans are more now than what was borrowed. Not only did the K of C steal all the dividends for four years but the loans are more than originally borrowed. The agent lied to me about the facts of the loan just to make a commission. I will cash out all three policies and go with a more law abiding company ( if one exists) I asked 5 or 6 different times on how much dividends earned since the loan and what was the interested paid on dividends and interest on loans. Never will the knights answer any of my questions. THEY’RE HISTORY!!!!!

    Reply
    • Agents do not get paid commissions for processing policy loans for clients, they provide this work to clients as a service.

      Reply
      • dividends only go towards loan principal…never loan interest.

        Reply
  23. Is there an office in Canada that can deal with annuity transfers??????

    Reply
    • If they do not help you:

      Financial Services Commission of Ontario (FSCO).

      FSCO regulates insurance companies, agents, and adjusters that are licensed in Ontario in accordance with the Insurance Act (the act) and regulations.

      If a policyholder has concerns or a complaint about how an insurance company administers a life and/or accident & sickness policy or claim, he or she may contact the Ombudsman/Company Complaint Officer (CCO) for the insurer to bring such issues to their attention.

      If attempts to resolve the dispute or concern with the CCO of the insurance company in question without a satisfactory result, the complaint may be escalated by contacting the OmbudService for Life and Health Insurance (OLHI) at 1-888-295-8112 or http://www.olhi.ca.

      The OLHI is a national independent complaint resolution and information service for consumers of Canadian life and health insurance products and services, including life, disability, employee health benefits, travel, etc.

      Finally, if you believe that the act and/or regulations have been violated by an insurance company, agent or adjuster, you may request that FSCO review the matter. To file a complaint, please complete and submit by mail or fax the attached Insurance Business Activity Complaint Form to FSCO:

      Financial Services Commission of Ontario
      Licensing & Market Conduct Division
      Complaints Registrar
      5160 Yonge Street
      4th Floor, Box 85
      Toronto ON M2N 6L9

      When you are completing the complaint form, please ensure you:
      • include any relevant facts, information and documents that support your complaint; and
      • attach any other correspondence that you received from your insurance company.

      We trust this information is of assistance.

      Sincerely,

      Contact Centre
      Financial Services Commission of Ontario
      T: 416-250-7250
      E: contactcentre@fsco.gov.on.ca
      http://www.fsco.gov.on.ca

      Ombudsman/Company Complaint Officer (CCO) listed with FSCO is Ricvh.elomaa@koc.org he is out of Connecticut

      Reply
  24. How do I find out what the value is of my insurance policy is?

    Reply
    • Hi James,

      I would recommend contacting your insurance directly. If you still have the same agent that sold you the policy, that would be a good place to start.

      Best,
      Eric Stauffer

      Reply
      • Sorry answering took so long. My original agent has retired (?) and the new agent is very difficult to reach. I need an address to mail these papers to to cancel the policies. Two of my children want to cash them in. Please help.

        Reply
        • [Redacted]
          Agency Assistant, Agency Department
          Knights of Columbus Supreme Office
          One Columbus Plaza
          New Haven CT 06510-3326

          Phone: [redacted] FAX: [redacted]
          E-Mail: [redacted]

          Reply
  25. I want to surrender 2 policies. The policies cover two of my children who get better coverage through their employers. I believe I have all of the proper paperwork signed by them. Who should I talk to or where should I send the papers to get this taken care of?

    The coverage is for [Redacted] and [Redacted]. My home number is [Redacted]. Please get back to me ASAP.

    Reply
  26. Sorry as a catholic organization the least you could do is not to fool your own members.

    I was told with a proper written proposal that I will have to pay premium for twelve years after that the dividends will pay the premium.My premium is $4000 per annum im now inthe 13th year.I only have $900 as dividend i have no idea how I can continue to pay the premium. Kofc will make its members to loose money and fool.

    On further google research it seems they have settled a law suit earlier for the same complaint

    So much for fraternity and that too in the name of Jesus

    Reply
  27. Knights of Columbus is great insurance our son passed away and we had no problem getting money they were prompt and very help full we have had it over 45 yrs thanks knights

    Reply
  28. I was told my policy would be paid off in 20yrs. After said time and 8,000.00$ they still want me to pay a premium. I was told the stock market would take care of the investment after 20yrs. Then it was bad markets fault. And it’s still bad market. With the market the highest its ever been. Tell me again that it’s the best bargain around. And don’t forget to go to church after doing so.

    tell

    Reply
  29. I received a much better rate for term life insurance from a different insurance company. It has been extremely difficult to cancel my existing policy with Knights of Columbus. For example, I indicated the balance of my policy should come to me as a check, and I later got a letter in the mail saying processing it had been delayed because they had nt yet received a request to transfer funds from my nrw insurance company. By the way, the phone number listed on the letter just rings and rings. I get the feeling in retrospect that the premium was higher than it shoudl have been because they rated me in standard health (did not request my medical records from my doctor for example) rather than trying to get me a better premium for being in excellent health (which is what the other insurance company did). I only have one contact, my local agent, who has not been very helpful. I just feel like they are delaying cancelling my policy and took advantage of my ignorance when I first took out the policy. Yes, ignorance is my bad, but I suspect they take similarly take advantage of many who do let their gaurd down due to the company’s religious affiliation.

    Reply
  30. I have been with the Knights for over 9 years, Both my son and I have insurance with them (he was 2 at the time and is 11 now) The agent told me because I am getting my son insurance at such a young age he will not only not have to pay after he turns 22 and be fully insured but his dividends will be over one hundred thousand dollars! I was astonished and asked him repeatedly, “Is this true?” because if felt like that saying “If it seems to good to be true then it sure isn’t!” But the agent kept saying that it is true and showed me on his computer how it would work and how much I will have to pay per month for his insurance! My father and mother were also there saying, “this would be great for his education when he gets old and you won’t have to worry about it!” I agreed with my parents and signed on with them!!

    Low and behold it is now 9 years later, I call to check how much dividend both my son and I have and then inform me that my son only has 800 dollars! I could believe what I was hearing, after 9 years he only has that amount,. how can that be? There is only 11 more year until he reaches 22 when he is suppose to have one hundred thousand, that is only 2 year more then now and all he has is a lousy 800 dollars!! The lady on the phone not only was very rude but informed me that on the 22 years he will have 3,000 maybe 5,000 but no more then that!! What a far cry from what I was told!
    I guess they would say anything to sell their insurance and get the commission!!

    So if you are thinking of going with them, I would think twice, They are lining their pockets with your money and living the lime light and you are not getting what they promise you would get!!!

    TRULY NOT WORTH YOUR TIME AND MONEY!!!!!!

    Reply
    • The KOC insurance is not a scam. They are actually very highly ranked. It is possible that you misunderstood the situation since there are several terms and it is not the simplest concept. After 20 years, yes, your son’s policy is paid off meaning that neither he nor you have to pay into the policy yet it will continue to gain value with time. I don’t know which policy you took out, but you should have a nice sheet explaining everything, which I am sure was explained to you at the time and can be given to you again. The Net Death Benefit is likely what you were thinking of, which I am sure is at or over 100k. There is likely a pretty high net cash value at this point, which your son can borrow against or take out for his college education. Not 100k, but probably a good chunk of change. I am not sure that the dividends would ever be 100k for a child’s policy (I could be wrong on this, but I think dividends are typically pretty low, especially for the policies they allow for KOC member’s children). I am not a KOC member. I am also not a life insurance specialist. I am a scientist, and consider myself a quite logical person and I dislike seeing people tarnish other’s reputations due to simple miscommunication and misunderstandings. I do have their insurance, as do my parents, and siblings and we have had nothing but positive experiences.

      Reply
      • No, I did not misunderstand, because I asked him over and over again if that is true and he said it was, and that he would have that after he is 22 years of age. Both my parents and I watched and he explained it to me. So No I Did Not Misunderstood!!!!! I also no longer smoke, I have been smoke-free for over 9 years and do you think I can get my agent here, and my policy changed, (No) I am also not one to tarnish credible companies, but this one does lie about there stuff!!!! And unless you were there you have no idea what it was he was saying to get the sale so to speak!!!!

        Reply
        • We had a similar experience 31 years ago when we got married. We got 2 50,000 whole life policies and we were told they would be paid in 7 years. 31 years later – we are still paying on them. Looking back I’m wondering why I believed them but I did – it seemed to make sense then. I’ll continue to pay them ($800 a year) for now.

          Reply
          • Wow, Pattie!! I am hoping I won’t have to pay that long!! I know they lied to me so who knows right?? I am sorry you got scammed too.. Like I said “Anything to get the sale and commission!”

          • I am an insurance agent who is considering a position with the KoC. I worked for them back in 1996 and I was very new in the business. At that time there was definitely a problem with training and making sure the agents understood the policies they were selling. It is a very difficult business for a new person but there is no excuse for lack of knowledge. I pride myself on fully explaining every aspect of the policies I sell. It sounds like the agent who sold you your policy did not understand all of the nuances of the policy. If you ever feel uncomfortable about signing on the “dotted” line you should ask more questions. As for me, I have walked out of homes and told the clients I would get back them within a day or two after I get the answers to their questions. Young agents feel they have to know everything about everything. I don’t and when asked I will be upfront and let the perspective client I will get the exact answers and then we will sign the contracts. That is the best way I know to build trust, friendship and a long term client.

          • Seems to me all these complaints are due to poor communication because K of C do NOT train their agents well.

            Not all people can learn at the same rate or with the same material.

            Some people need more time for training or different material with better layman’s wording.

            Warning… get a second opinion after talking to ANY insurance agent.

            Better still, audio record the meeting with your cell phone.

            Go home & listen to it several times.

            Research on the internet of what was said at the meeting.

            Take the recording to another insurance agent for accuracy checking. Use some common sense people!!!

  31. absolutely horrible experience. Because this is a catholic organization I let my guard down and was taken advantage. To start with the prices are no better then anyone else. probably higher then most. The question for a term 50k policy took three hours. I was told that despite the fact that I already had insurance I needed to give them a check for temporary insurance .(this is a violation of insurance regulation 60) Shortly there after I informed the agent via message I wanted to cancel. I left repeated messages and texts to my agent that were not returned. I had to call my grand knight to intervene on my behalf with this agent. 3 days latter while I was home the agent called and got my son on the phone and asked to speak to my wife. My wife then told him we were not interested and requested a refund and he hung up on her. I have since called the county council and reported this agent who is still out there and was told it will be cancelled. We shall see.
    Point is they still have my money I have nothing and may or may not see it again. DO NOT USE THEM OR TRUST THEM. SO SORRY TO SAY THIS BUT UNTRUST WORTHY AND EXPENSIVE.

    Reply
    • I have been in the insurance business for 30 years. The check you gave was to “bind” the coverage and does give you temporary coverage while the policy is being underwriten. People should not be critical of companies when they are simply following industry standard policies. Most of the comments I have read in this entire thread are ludicrous. These people are misinformed and totally incorrect in the accusations they are making regarding poicy. As to customer service and attitude, they may or may not be accurate.

      Reply
      • Hi Gary, I understand what you are saying. The problem is that all of these comments are from people that DIDN’T UNDERSTAND THEIR POLICIES. Isn’t that a big part of the agent’s responsibility, to educate, inform and be certain that they do? Most of the comments are clearly from people that, if they were not actually hoodwinked, felt as if they had been. That speaks volumes since most of them had decades of experience with the company, plenty of time for their agent, or subsequent agents to have taken the time to fully educate their clients. It’s obvious that none of them were educated though.
        This company, if not guilty of malfeasance, is at least guilty of gross neglect of its consumers and failure to provide even a modicum of service to the men and women that fork over their hard-earned dollars.

        Reply
        • I’m thinking of canceling our whole life policy that we’ve had for 20 years and still paying on. We have other, much cheaper insurance through our jobs. We were told by our financial advisor years ago that this was a bad investment and you should never look at insurance as an investment. I’m just tired of paying for something we don’t need but have no idea how much of our money we would get back if we canceled now. After reading these comments I feel we are just throwing good money after bad. As for the charity part, we give to our church and my husband pays his dues each year and participates in the KofC activities.

          Reply
          • Not sure if you’ve canceled your whole life policy yet but make sure you meet with an educated agent before doing so!

            Many people believe they don’t need their whole life policies and the premiums are expensive.

            The fact is that it is probably gaining cash value faster at this point than ever before!

            Everything you accumulate in cash with be useful to you in retirement as an lifetime income annuity if you choose to do so!

            Most financial advisors don’t have a clue how KCs whole life works and they are not giving you good advice if they are telling you to surrender it if you’ve had it for many years!

            Pay your premiums in full. Talk to an agent soon!

        • Addressing the fact that most people DO NOT UNDERSTAND their policies.

          I am a scientist, who has to explain scientific findings to a jury.

          Most people are not aware that jurors these days have the equivalent of a 5th-grade education.

          Communicating complex principles from one person to another is very difficult.

          Even if is explained more than once, sometimes the transfer is just not successful.

          I’m not saying that there are not misinformed or bad agents out there, but I bet a lot of this is just as Gary said

          – people just don’t understand what they are getting.

          They then lash out and make unfounded accusations.

          And Jimmy, just because the knowledge was not absorbed does not mean it wasn’t presented.

          People will always say that they were misled rather than admit they did not understand it.

          Reply

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