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New Member Insurance Plan - 12 Questions and Answers
1. What is the New Member Insurance Plan?
It is a special whole life insurance policy issued by the Knights of Columbus. It was formerly for new members only, but for a limited time it is available to all members of our Order, and to their wives.
2. What benefits does it pay?
The New Member Plan pays the death benefits shown on the chart you can find on the application. Simply locate your age, and the death benefit listed. The New Member Plan also builds substantial cash value over the years. After the third year it is scheduled to pay dividends, too.
3. Why is it called an insurance "best buy?"
This plan was originally intended as an introductory benefit for new members who join our Order, so the premiums were set very low. You get more insurance per premium dollar than from any other whole life plan offered by the Order.
4. How much does it cost?
The New Member Plan comes in units that cost a flat $50 per year, regardless of age. You may pay this in a lump sum or in two $25 installments. Naturally, the youngest participants get the highest coverage for their $50. The face amount (death benefit) of the policy is established by your age at the policy's issue, and remains constant as long as the policy lasts. At the beginning of Year Four the premium increases from $50 to $66.67 per year. Your dividends (which cannot be guaranteed) also begin that year, and if you apply them to premiums, we anticipate that they will offset the $16.67 increase and keep your net annual premium effectively at $50.
5. Who is eligible for this Plan?
All members of the Knights of Columbus and their wives, age 18 to 65, are eligible to apply. Two applications are enclosed for your use.
6. Do I have to qualify for this Plan?
Yes. At the low premium at which it is underwritten, the health of any applicant must permit issuance of the policy at standard rates. In other words, your health must be reasonably good. So you will find a few simple health questions in the applications.
7. How will death benefits be paid?
Death benefits will be paid in cash in one lump sum to the beneficiary named in your application.
8. Suppose I don't like the policy when I read it?
When you receive your policy, read it carefully. Discuss it with anyone whose judgement you respect. If you aren't completely satisfied, send it back within ten days and your payment will be promptly refunded.
9. When will my coverage become effective?
Your policy will be issued when it has been approved by the Order. It will be effective from the date of issue onward.
10. Can this insurance ever be cancelled?
As long as you pay your premiums when due, the Order can never cancel your insurance. You, of course, can cancel at any time - although we strongly advise against it. This insurance is a very special opportunity.
11. How do I apply for this insurance?
Use the applications enclosed. The New Member Plan is available solely and exclusively to members and their wives. The Knights of Columbus now has over $34 billion of insurance in force, assets of $7 billion, and ranks in the top 5 percent of insurance companies.
12. Why is it important that I apply promptly?
There are three good reasons why you should apply without delay. First, although the state of your health may be fine now, it could change at any time and make you ineligible for the Plan. Second, the New Member Plan may not be offered to you again. And third, this application period ends on October 31, 1998. This is several weeks away, but if you set this aside now you may forget to apply at all. And that would be a shame.
Seven Good Reasons Why You Should Buy the New Member Plan Now!
1. Very low premium!
2. Cash values for financial emergencies?
3. A cost-per-thousand as good as any and better than most!
4. Plan is scheduled to pay dividends!
5. Everybody needs more insurance!
6. Unlike many insurance offers on television, the benefits of the New Member Plan never reduce - regardless or your age.
Easy to apply! Short applications enclosed for you and your wife.
If you haven't visited the Knights of Columbus Web site in a while, I encourage you to do so the next time you're online. There are many exciting features on there (click on the "button" in the links column "Additional Insurance Information at the State Web Site", but there are two that I wish to make you especially aware of.
The first is our member testimonial area, titled "Stages of Life." In this multi-media area, six "real-life" stories are told - stories of people at different stages of their lives. Chances are one of them will sound a lot like you. These people talk about how their Knights of Columbus agent took the time to demonstrate for them the need for life insurance in their lives. I'll be happy to do that for you and your family as well.
The second is our Life Insurance Calculator. This handy, easy-to-use online tool was developed to allow you, in about 15-20 minutes to estimate the amount of life insurance coverage you need. The information you'll be asked to provide will be basic (the type most folks would tend to have at their fingertip), and secure (it's intended to be used solely for the purposes of the online calculator - the Order won't capture it or share it with anyone, including me!).
I stress that the number you'll receive is an estimate, based on the basic information you provide. It's not intended to take the place of the free, professional needs analysis that I'll be happy to provide for you and your family. Give me a call - I'd like to meet with you.
Knights of Columbus
Archbishop Neale Council, No. 2279
Instituted 19 June 1920
It's affordable!
It's comprehensive!
It's essential!
Knights of Columbus insurance is provided to our members by the Harry J. Canter Insurance Agency through our local insurance agent, brother knight, .
The following short articles bring "home" the necessity of having adequate insurance coverage.
If you're like me, you derive great joy from your children. It's a great feeling when a teacher, coach or fellow parent compliments you on your child.
We all know that raising children these days is no easy task, especially when the values we're trying to instill in them - concern for others, accepting responsibility for their actions, saving money rather than spending it - seem to run counter to what society is trying to teach them. Yet these are exactly the values that tend to draw compliments from teachers, coaches and fellow parents.
We also know that the best way to teach is by example. If you carry enough life insurance to protect your family - and if you share, with those of your children old enough to understand, why that's important, you're exhibiting and imparting many of the values you hope your children will absorb.
You'll show them by example that you love them and are concerned about their welfare. You'll show them that you take your responsibility to provide for your family seriously, and that you want to make sure they're provided for even if you're not around. And you'll show them that investing money in your life insurance protection is more important than the new set of golf clubs you might want, the newest and best home theater system you've had your eye on, or whatever else you might be sacrificing to pay the premiums.
Sure, they'll probably roll their eyes at you as you're explaining this, and they'll certainly moan and groan if they can't get the newest CD, video game or piece of clothing. But they learn from what you do - just like they learn from what you don't do. What lessons do you want to teach them?
I want to meet with you to review your existing coverage. Based upon that review, and on the comprehensive needs analysis that I'll perform, free of charge, we'll be able to put a plan in place that will meet your needs, goals and budget. Give me a call.
Have you ever heard the expression "lazy days of summer?" While the hot weather may encourage a slower paced life, in many ways summer can be the busiest time of the year. Especially for parents with school-aged children. And being busy, it's easy to forget about such things as reviewing your life insurance coverage.
The purpose of this column is to encourage you to meet with me before the end of the summer. Whether or not you have life insurance with the Order, I'll be happy to meet with you and make sure your coverage continues to meet your needs and goals. If you've had any life changes since you last bought a policy (new home, new child, new job, etc.), chances are your life insurance needs to be updated. I'll work with you to make sure you have the coverage you need at a price you can afford.
Call me to set up an appointment, When we meet, you'll discover that time spent with your Knights of Columbus agent is time well spent. But, make the call today. because summer will come and go before you know it.
The Joy of Children
The Lazy Days of Summer
Daniel Quagliarello, FICF, LUTCF, has retired as the local K of C insurance agent for our council. He extends his heartfelt thanks for our council's participation in the benefits program during his tenure, as advisor, over the past 20 years and for the hospitality and respect afforded to him on his visits to the homes, council meetings and affairs during that time.
He says he will always remember his personal association with the membership with fondness and hopes that there will be opportunities to correspond in the future. His e-mail address and phone number are:
quagsr@aol.com 301-505-0951
The council membership thanks you Dan, for your faithfull, professional and compassionate service to our council and wishes you good health and a happy retirement.
The Knights of Columbus Insurance is the best there is.
Telephone No.:
e-mail address:
This position is temporarily vacant.
