March 24, 2010

Knights insurance can help families and Church

By Teresa Devine
Special to the Denver Catholic Register

The Knights of Columbus recently adopted a new theme for its highly successful insurance program. The Your Shield for Life ads reinforce the standing of Knights of Columbus Insurance as one of North America’s most financially secure life insurance providers. Founded in 1882, the Knights of Columbus is a Catholic fraternal benefit society that provides its member families with life insurance, annuities and long-term care insurance for their financial protection.

Knights of Columbus Insurance has a long history of financial strength and business integrity. It is one of only three U.S. insurance companies—and the only one in Canada—to receive the top ratings from A.M. Best (A++ “Superior”) and Standard & Poor’s (AAA “Extremely Strong”) as well as certification for ethical business practices from the Insurance Marketplace Standards Association (IMSA).

The shield, reminiscent of those carried by medieval knights in sturdy armor, symbolizes the organization’s continued dedication to safeguarding the financial future of its members. With its classic, battle-tested look, the shield embodies the tradition of strength, security and stability that K of C Insurance has offered for more than 125 years.

Alongside the order’s fraternal emblem, the new shield icon will become a mainstay of Knights of Columbus Insurance advertising and marketing.

“The Knight’s shield has long been a symbol of strength and honor,” Supreme Knight Carl A. Anderson has said. “And those are exactly the words that best describe the Knights of Columbus insurance program. Especially in difficult economic times, our exceptional strength and our long history of integrity and service to brother Knights and their families, remind everyone that we provide the best protection available.”

Knights of Columbus insurance is offered by a North American network of more than 1,400 professional full-time agents dedicated to member service. Greg Archunde, a local field agent for the Knights, is working to make sure member Knights are aware of the role insurance plays in securing the financial future of their families as well as supporting their charitable goals. According to Archunde, “life insurance is a tool with many purposes.

“When families are young, for example, they may have purchased policies to provide them with financial protection in case something should happen to them,” he said. “When circumstances change, they are often interested in one of the most satisfying uses for life insurance they no longer need—donating it to a charitable cause such as The Catholic Foundation to support their parish or school, our future or retired priests, the poor or other Catholic activity near and dear to them.”
Bud Laber, president of The Catholic Foundation, agrees that using life insurance for charitable purposes after the financial needs of families have been met is a great way to benefit Catholic missions and ministries without affecting a family’s security.

“This arrangement enables the Knight to create a legacy of faith, hope and love for generations to come,” he said, “and enjoy a current income tax deduction for his premium payments.”

Archunde and Laber are both excited that there is another opportunity available in Colorado where a member Knight can enter into a new insurance contract with his parish’s fund at The Catholic Foundation as the beneficiary and owner of the policy and making annual contributions to the foundation to equal the premium.

“The Catholic Foundation is focused on the long-term financial strength of parishes and schools,” Laber said. “We are working with parishes and their supporters like the Knights to build endowments in ways that are rewarding for donors by making it easy to learn how life insurance can be used to wisely plan gifts that benefit both the parish and the donor.”

Archunde’s first priority is helping member Knights build a financial plan to provide for the security of their families.

“It’s an additional blessing to work with Laber and the foundation to help them also fulfill their charitable intent after the financial needs of their families have been met,” he said.

For more information contact Greg Archunde at 720-985-5753, gregory.archunde@kofc.org or Bud Laber at The Catholic Foundation at 303-468-9885, blaber@the catholicfoundation.com.