knights of columbus long term care insurance

'Single Premium Whole Life has a unique one-payment concept the client makes one payment, which guarantees a death benefit, allowing the client to create an estate or legacy that can provide for survivors or to be donated to charity,' Franzluebbers stated. It is eligible to earn dividends at the end of the first policy year. This product builds cash value and provides an income tax free death benefit that is guaranteed for life. The Single Premium Whole Life policy provides permanent life insurance protection that is guaranteed to be paid up for life with just one premium payment. The product allows the client to customize the paid-up age of the policy to coordinate with their personal financial planning timeline.' After the payment period is complete, the policy is guaranteed to be paid up with no further payments required. The initial payment flexibility is completely in the hands of the client and is a differentiator in the industry. A client can choose to pay for as few as five years, all the way to age 100, or any age in between. 'The beauty of Limited Pay Whole Life, which will be our flagship whole life product,' added Franzluebbers, 'is the flexibility the client has at the time of sale to choose the premium payment period. There is also potential for additional death benefit and cash value growth if any dividends earned are used to purchase paid-up additional insurance. This unique product provides a lifetime level guaranteed death benefit with cash value that builds over time. Limited Pay Whole Life policy allows the client flexibility to choose how many years to pay premiums, guaranteed and fixed at issue, subject to a five year minimum requirement. Offering a strong portfolio of products allows our agents to best meet the needs of our clients, who can feel confident knowing that their life insurance protection is in the hands of an insurer with a long-term history of providing financial assistance.' Ron Franzluebbers, senior vice president and chief actuary, said: 'These new whole life products will be competitive additions to our life insurance product portfolio, providing access to all the benefits of whole life insurance, including guaranteed cash values i and death benefits, at an affordable cost. Dividends are not guaranteed, but are distributed to policyholders, as there are no stockholders. and Canada: Limited Pay Whole Life and Single Premium Whole Life.īoth the Limited Pay Whole Life and the Single Premium Whole Life plans offer a guaranteed death benefit as well as cash values with the opportunity for additional growth if future dividends are earned. 3, 2019 /PRNewswire/ - Knights of Columbus ('K of C'), a Fortune 1000 insurer with more than $25 billion in assets, announced today that it has launched two more permanent life insurance products in The Knights Advantage Series in the U.S.

Knights of columbus long term care insurance