KofC Cleveland Agency News

Participating Companies

2013-04-08T16:00:20Z

The word “participating” is a key life insurance term I’ve explained many times to fellow Knights who are shopping for life insurance and want to make sure they’re comparing apples to apples.

In a nutshell, if you own a participating policy, you’re eligible to earn dividends when the life insurance company has better- than-expected financial results.

Generally, you may choose to have any dividends from a participating policy added to the policy’s cash value or used to purchase more life insurance, if it is a permanent (also called “whole”) life insurance policy.

Dividends are not guaranteed. Whether a company pays dividends in a given year depends in part on the company’s fluctuating claims, operating expenses, and earnings on the premium dollars it invests. The Knights of Columbus has built a steady track record over the years of paying extremely competitive dividends. All of our permanent life insurance policies are participating.

If you’ve come across any other terminology about life insurance you’d like to understand better, please email me, or leave a comment on this post. I’m at your service.

Fraternally yours,

Zachary A. Caro

Disability insurance is more important in a tough job market

2013-03-18T16:00:20Z

Americans who lost their jobs over the last few years have faced a tough challenge in finding a new job. But imagine losing a job because of an illness or injury that leaves you disabled. Although the U.S. unemployment rate dipped below 8% in the third-quarter 2012 for the first time since early in 2009, the unemployment rate for Americans with disabilities increased to 13.7% from 12.9% in the previous quarter.

If you don’t have disability insurance through work, or if your employer’s coverage is inadequate for your family’s needs, private disability insurance provides a critical safety net, especially if you’re launching a new career in a competitive job market. Policies such as Income Armor from the Knights of Columbus can help pay some costs for retraining and rehabilitation.

The long wait for social security disability claims

Private disability insurance can also be a lifeline if you’re applying for Social Security disability benefits. The average time from filing a claim to getting a decision about your benefits is currently almost a year—and many claims take far longer. In short: The best safety nets are those you make for yourself.

Take a close look at any short-term or long-term disability benefits you may have through work. Ask yourself whether your family could maintain its standard of living with those benefits. If not, or if you don’t currently have disability insurance, let’s talk about your options through the Knights of Columbus.

Habemus Papam!

2013-03-16T05:10:48Z

Habemus Papam! is the announcement given in Latin, upon the election of a new Roman Catholic pope. Translated it means: We have a Pope.

Supreme Knight Carl Anderson and the 1.8 million members of the Knights of Columbus extend cordial best wishes and prayers to our newly elected pope. The election of Pope Francis - Pope Francis is well known also for his emphasis on charity - the first principle of the Knights of Columbus. Both in our efforts for evangelization and in our charitable work, we will strive with him to bring the light of Christ to the people of our continent during his historic pontificate.

Carl Anderson on Pope Francis New York News | NYC Breaking News

The new pope, 76-year-old Jorge Bergoglio, the archbishop of Buenos Aires, is the first pontiff from Latin America and the first Jesuit, but he appears to hold views very much in line with his predecessor, Pope Benedict XVI.

Interesting Facts:

The Holy Father, made history as the the first from Latin America, the first Jesuit and the first to assume the name Francis. He has chosen the papal name Francis, becoming the 266th to hold the title of spiritual leader of the Catholic Church. Many have said the first non-Europian, and he is, since Pope Gregory III who died in 734.

The Holy Father Speaks 3 Languages Fluently: Italian, Germain, and Spanish.

He is named after St. Francis... of Assisi, how many of us were guessing that it was Xevier, he is a Jesuit after all. St. Francis was not a priest, he had such reverence for the eucharist, and for priests that he never dared become one. So our pope is named after a deacon... which is fiting as one of the honorific titles of the Holy Father is "Servant of the Servants." and "deacon" means servant.

Interesting fact you may have missed... He only has one lung, it was removed due to an infection when he was a teenager, he has lived about 50 years without it and it's not considered to be life limiting.

He has elected not to have a roman numeral I placed after his name. It's not exactly the same, but many people are saying a SR. isn't added until after there's a JR. But it would have been correct to indicate that he is the first Pope of his name. He has elected to leave off the distinction.

God Bless our new Pope Francis!

Habemus Papem.

It’s not the IRS, it’s a Scam!

2013-02-15T17:00:52Z

The IRS doesn’t call or email and ask for personal information—but identity thieves do.

U.S. Treasury Department investigators estimate that identity thieves are on pace to pilfer $21 billion through fake tax returns over the next five years. The genius of this crime is how the thieves get enough personal information to file the fake returns: they simply call or email taxpayers and ask them for it.

If you get an email or phone call that appears to be from the Internal Revenue Service (IRS) asking for your social security number, banking information or other personal data, don’t provide it.

The IRS does not email or phone taxpayers to notify them of a return or to request personal information. In rare circumstances, such as during an audit, an IRS representative may be in contact with a taxpayer
via email or phone. But if you get an official-looking email or official-sounding phone call with an offer that sounds too good to be true—or an urgent warning about information the IRS needs to complete your tax return— don’t take the bait.

Don’t click on links in emails

Be especially wary of emails displaying an IRS logo that ask you to click on a link. These links may appear to lead to an IRS site. Instead, they’ll open a bogus form that instructs you to enter your Social Security number, banking information or other personal data. The form forwards your information to thieves who use it to file tax returns in your name and collect the money.

Clicking links in these emails may also open your computer to “malware” that scours your computer files and emails for account numbers, passwords, etc.

If you believe you’ve received a fraudulent email or phone call about your tax returns, call the IRS at 800-908-4490.

Knights of Columbus investments: sound and ethical

2013-02-11T17:00:52Z

By Anthony Minopoli, Knights of Columbus Senior Vice President and Chief Investment Officer

In managing the Order’s assets, the Investment Department focuses on a dual mandate: portfolio strength and adherence to Catholic teachings. No insurance company in North America is more highly rated for financial stability than the Knights of Columbus. Our goal is to maintain this position well into the future. At the same time, we recognize our position as the strong right arm of the Church, so we ensure that our investments strictly adhere to Catholic teachings.

Diversification and research protect our portfolio

Our portfolio is invested with 87% in highly rated fixed income investments. The Order performs exhaustive research on the companies we invest in, focusing on their credit quality, industry position, the strength of their management team, and overall financial strength. The remaining 13% of the portfolio is invested in stocks, real estate, loans, and a few smaller investments to round out our portfolio.

We also focus on broad portfolio diversification so the largest individual investment represents just 0.34% of total assets. We know that all of our investment activities are to provide insurance protection or annuity income to the Order’s policyholders, so we invest for the long term-—we do not want a single under-performing investment to have undue impact on the overall portfolio. We do not invest in junk bonds. We’ve always stayed away from the aggressive and leveraged strategies that have been plaguing Wall Street since the collapse of the Lehman Brothers investment bank in 2008.

Ethical investments require rigorous screening

We believe in sustainable investing that betters society. This is why we avoid investing in any companies engaged in: embryonic stem cell research; contraception; substances that induce abortions; human cloning; for-profit health care that pays for any service or product objectionable to the Catholic Church; and pornography. The Order also avoids investments in companies that derive the majority of their income from the sale of alcohol and/or tobacco.

Our investment screening criteria are absolute. That is, we won’t invest in a company even if it derives only a small amount of its revenue from a prohibited activity. We use a third-party screening organization to perform the ethical screens based on our mandate. The prohibited companies are coded into a sophisticated pre-trade system that automatically prevents trades involving these companies.

In short, we take our mandate very seriously. We earn the trust of our members and their families
by providing strong insurance and annuity products backed by a well diversified investment portfolio that complies with Catholic teachings.

Record Breaking Streak Reaches Twelfth Consecutive Year

2013-02-08T17:00:56Z

Below are some words from our Chief Insurance Officer, Thomas P. Smith, Jr.
By Thomas P. Smith, Jr., Chief Insurance Officer

The Knights of Columbus is truly a remarkable, one-of-a-kind organization, and our insurance program
continues to show its strength and stability in spite of economic turmoil. In fact, 2012 marked the twelfth
consecutive year of growth in many categories, chief among them the volume of coverage issued. This
accomplishment illustrates the faith our members have in the products and services we offer to protect their
families. Allow me to share a few of the Order’s 2012 achievements with you.

• During 2012, the Order issued more life insurance than ever before in our history: $8.1
billion.

• Our total insurance in force surpassed $88 billion. To put this remarkable number in
perspective, consider that at the end of 2001, we stood at $42.9 billion.

• The Order introduced a Graded Premium Whole Life plan, which makes whole life coverage
more “budget-friendly” than ever before. We also made improvements to the Systematic Withdrawal Options on our annuity products.

• We finished the year with more field agents serving our members than ever before. Still, asour membership continues to grow, new agent candidates are always in demand across the U.S. and Canada.

• During 2012, we celebrated four exceptional months that were in the “best ever” category.
Records were set in February, May, August, and November.

• More than 13,000 new retirement annuities were issued to our members and their families in
2012, and members continued to fund their current annuities in record numbers.

• Our A++ (Superior) rating from A.M. Best was reaffirmed and there continues to be no more
highly rated life insurer in North America.

• Members purchased more long-term care policies from the Knights of Columbus than in the
past five years. As other companies discontinued this vitally important product, the value and
strength of our long-term care coverage remains solid.

• In the first full year since its introduction in the spring of 2011, our Income Armor disability
income insurance has already been embraced by many members who needed to protect their income.

• Associate members continued to become insured members, extending our shield of
protection to themselves and their families. This trend is especially important to every agent,
manager and member of the staff in New Haven. After all, this is the founding goal of Venerable
Father Michael J. McGivney, and, with each associate-to-insured conversion, we take a step towards
fulfilling his mission.

My purpose in sharing these statistics with you is to promote pride in the success our organization is havingin fulfilling the vision of Father McGivney by caring for the financial security of our members and their families.

WANTED: PROFESSIONAL AGENT FOR THE KNIGHTS OF COLUMBUS

2013-01-21T21:43:31Z

Due to the tremendous growth of the Knights of Columbus in Cleveland, we are currently looking to expand our sales force! This may not be the opportunity for you, but maybe you know someone who may benefit from this.

Have you ever taken a moment to stop and ask yourself, "Is there a career opportunity out there for me that:”
1) will allow me to be my own boss?
2) where I can have an unlimited income potential?
3) where I can have excellent benefits?
4) where I can become a respected member of my community?

There is such a career where all this is possible and much more. That is a career as an insurance agent for the Knights of Columbus. This is a career with a few very important qualifications and a long list of benefits that no single other career can provide.

Qualifications:

Self-motivated Income potential of a professional
Good time management Training allowance
Willingness to put the hours in to watch the income grow Production bonuses
Goal oriented Noncontributory pension
Genuine concern for people 401K
Ability to create a sale out of a "no sale" Comprehensive health insurance
Desire to succeed Intensive training program
Ongoing supervision and self-development
Flexible hours
Incentive award trips such as Rome, Hawaii, St Thomas, Cancun and Ireland

If you're still not convinced that the Knights of Columbus provides and excellent opportunity, then consider a few other questions:
1) If you remain in your current position, where will you be three years from now?
(Income, promotion possibilities, etc.)
2) How would it feel to have your income be a direct reflection of your success at work?

3) What would it feel like to know that while you are earning as much as you desire to, you are also helping people prepare for their future?

TAKE CONTROL OF YOUR FINANCIAL FUTURE AS A PROFESSIONAL AGENT FOR THE KNIGHTS OF COLUMBUS

New Feature Added to our Website

2013-01-21T21:05:38Z

Cleveland Knights Network for businesses and services provided by brother Knights.

If you are self employed, own a business, provide a service such as accounting, legal services, handyman, cleaning services, real estate, mortgage consultation, or other another service. Please let us know or visit our website to add your information so we can help you with our online directory and network for brother Knights and their families.

Proudly providing a resource for you and the community to help Knights reach out and support each other in the business and services that they provide to the community. These services provided are those of our members and do not represent the Knights of Columbus. To list your service on this page it is required that you are a member of the Knights of Columbus. If you are self employed, or provide a service that you would like listed on this page please contact your Knights of Columbus insurance agent and ask that your business or service be added. In accordance to the bylaws of the Knights of Columbus our agency does not make recommendations for services or products that compete with the Order. There is no charge for this service. Add your business or service to our website: Network

How can your KofC field agent help your family?

2012-09-01T17:11:30Z

A Knights of Columbus field agent can be a very valuable relationship to you and your family. Providing very valuable resources.

The Pyramid of Wealth

2012-07-27T17:52:00Z

How do you prioritize the dollars you commit to your financial future? Build from the foundation up. Establish the safety net that will preserve your income in the event of a breadwinner’s death or disability. This protects your family in the short run, and the wealth you accumulate over the long run.