Knights of Columbus Life Insurance Review [2023]
Knights of Columbus Insurance sell term, whole, and universal life insurance policies. Membership is only available to Catholic males with strict eligibility rights. Most of the policies require individuals to complete paperwork and undergo a medical exam.
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Tracey L. Wells
Licensed Insurance Agent & Agency Owner
Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...
Licensed Insurance Agent & Agency Owner
UPDATED: Aug 11, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Aug 11, 2023
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
If you’re looking for life insurance, you may want to consider Knights of Columbus for coverage. Knights of Columbus is a faith-based, non-profit organization offering members term and permanent life insurance coverage.
The biggest downside to Knights of Columbus is that membership is only available to Catholic males with strict eligibility rights. In addition, women and men of different faith backgrounds cannot join Knights of Columbus or apply for insurance coverage unless they are married to a member.
What does the Knights of Columbus offer?
Knights of Columbus sell term, whole, and universal life insurance policies. Most of the policies are underwritten and require individuals to complete paperwork and undergo a medical exam.
Term Life With Knights of Columbus
Knights of Columbus offers three options for term life insurance:
- Accelerator Term. Accelerator Term policies allow for 10, 15, or 20-year terms, and plans increase the death benefit by up to 25% for a low cost.
- Annual Renewable Term. This renewable term life insurance policy allows people to renew or adjust their term coverage annually. Premium costs are likely to change, but the policy’s death benefit will stay steady.
- Young Adult. Young Adult term life insurance is available for men ages 18 to 29 and their spouses. This is also an annually renewable term life policy.
Term life rates with Knights of Columbus tend to be competitive, but you will have to speak with a representative to get a quote on coverage.
Whole Life Insurance With Knights of Columbus
Knights of Columbus offers a few different options for whole life coverage, including:
- Limited Pay Whole Life. Policyholders can choose how long they pay premiums for coverage, but they must pay for at least five years. Payments for Limited Pay whole-life coverage are fixed, so they will not increase over time.
- Single Premium Whole Life. A Single Premium policy allows individuals to make one lump sum payment to avoid making payments on coverage every year.
- Graded Death Benefit Whole Life. This policy allows anyone to purchase coverage without undergoing a medical exam. This final expense option offers low coverage amounts to cover funeral expenses. If you pass away during the first two years of coverage, your beneficiaries will only receive a portion of the policy’s death benefit.
Rates for final expense policies are normally a bit higher than average whole life insurance rates.
Knights of Columbus Universal Life Insurance
Knights of Columbus offers Survivorship Universal Life. This policy covers two people and pays out the policy’s death benefit after the second spouse—or the survivor—passes away. This tool is frequently used for estate planning and conservation.
Read more: Survivorship Life Insurance
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Can you get riders with Knights of Columbus life insurance?
Knights of Columbus offers a few different options for riders on life insurance policies. These riders include:
- Accidental death
- Children’s term
- Chronic illness accelerated benefit
- Term conversion
- Terminal illness accelerated benefit
These riders allow policyholders to customize their policies so that they work best for themselves and their families. If you know you want a company that will enable you to add riders to different policies, Knights of Columbus may be a good choice for you.
How much is Knights of Columbus life insurance?
Coverage with Knights of Columbus will depend on several factors. Most insurance companies consider a combination of the following factors when determining rates for coverage:
- Age
- Gender
- Marital status
- Occupation
- Tobacco use
- Health status
- Family health history
- Hobbies
- Lifestyle
- Coverage type and amount
Knights of Columbus is known for offering competitive rates on life insurance coverage. Still, you’ll only know how much it will cost when you find and compare quotes from multiple companies to ensure you are paying a competitive price for coverage.
Does Knights of Columbus have good ratings and reviews?
Knights of Columbus has an A+ (Superior) financial strength rating with A.M. Best and a stable outlook on future endeavors. The company also has an A+ rating with the Better Business Bureau (BBB). In addition, no complaints or reviews have been filed against the company on the BBB website.
Consider reading company reviews online to familiarize yourself with the company and its history of handling and processing claims if you’re contemplating purchasing a policy.
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What are the pros and cons of a Knights of Columbus life insurance policy?
There are positives and negatives to doing business with every insurance company. Some of the pros of a life insurance policy with the Knights of Columbus include:
- An assortment of riders
- Competitive rates on coverage
- Guaranteed issue policies
Some of the downsides of a policy with the Knights of Columbus may include:
- Membership is only available to eligible Catholic males.
- Knights of Columbus agents work on commission and may feel compelled to sell you certain policies over others for their benefit.
- Potential customers cannot get life insurance quotes online.
You may find that Knights of Columbus is a great option for you and your family, but you should evaluate all options before making a final decision on coverage.
Knights of Columbus Life Insurance: The Bottom Line
If you’re a Catholic male who is eligible for coverage with Knights of Columbus, you may want to consider the company for life insurance. Knights of Columbus offers great rates and multiple coverage options to clients.
Anyone who is not eligible for coverage with Knights of Columbus can search online to find and compare quotes from multiple companies. Doing so will help you find the coverage you want at a rate that works for you and your family.
Frequently Asked Questions
What does Knights of Columbus offer?
Knights of Columbus offers life insurance policies, including term, whole, and universal life insurance.
Can you add riders to Knights of Columbus life insurance?
Yes, Knights of Columbus allows riders to customize their policies.
How much does Knights of Columbus life insurance cost?
The cost varies based on factors like age, health, and coverage amount. It’s best to compare quotes from multiple companies.
Does Knights of Columbus have good ratings?
Yes, Knights of Columbus has high ratings for financial strength and customer satisfaction.
What are the pros and cons of Knights of Columbus life insurance?
Pros include competitive rates and coverage options. Cons include limited eligibility and faith-based restrictions.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Tracey L. Wells
Licensed Insurance Agent & Agency Owner
Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...
Licensed Insurance Agent & Agency Owner
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.