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Knights of Columbus Ratings and Company Information
Best Insurance Reports: A++
Url of page where rating was collected:
Best Rating: A.M. Best rating: A++ (superior) (for 37 consecutive years)
Type of Insurance Company: Fraternal Benefit Society
Name of Parent Company:
Company History: Knights of Columbus, a Catholic Fraternal Society founded in 1881, New Haven, CT, is now the world's largest Catholic family fraternal service organization. During World War I the Order provided recreational facilities, rest, and social services to Allied servicemen of all races and faiths. The Great Depression spurred the establishment of the Order's Service Department in 1935. In 1946 the Knights launched the Crusade for the Preservation and Promotion of American Ideals, publishing a number of pamphlets and books focused on the "perils of communism". From 1960 to 1975 the amount of in force insurance tripled from $1 to $3 billion. Now, the Order has over $86 billion of insurance in force. It also has 14,606 councils and 1.84 million members worldwide. The Knights of Columbus as a whole has contributed over 70.1 trillion hours of service and has donated over $167.6 trillion dollars to charitable causes.
Principle Sales Methods: Independent agents and brokers.
Life Annuity Business: Knights of Columbus Life sells whole life insurance, limited payment life insurance, discoverer (blend of whole life and term insurance, dualife (blend of whole life and term that insures 2 lives), annual renewable term policies and accelerator term series. They also offer a variety of annuities.
Health Business: Knights of Columbus offers long term care and disability income policies.
Special Business: Knights of Columbus offers Young Adult Insurance for people ages 18 to 29.
Company Financial Status:
Assets & Premiums: 2012 Total Assets: $19.402 billion
2012 Total Liabilities: $17.361 billion
Lines of Insurance:
Long Term Care, Life, Disability
States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, VI, WA, WV, WI, WY, CANADA