Knights of Columbus Life Insurance Reviews [Can You Do Better?]

This Knights of Columbus Life insurance review will give you an in-depth look at the Knights of Columbus life insurance solutions.  

We will discuss the Knights of Columbus credit ratings, their history as a humble fraternal benefits society in New Haven, CT, and of course, their life insurance products.

Knights of Columbus Life Insurance Reviews

We are familiar with all the life insurance companies in the United States, but as a brother knight myself, I can give you some valuable insights from both sides of the table. 

If you are considering purchasing life insurance with Knights of Columbus Life, you need to see this review first before taking action.

Or, you could save yourself a great deal of time by comparing rates with Knights of Columbus and 50 other top rated life insurance companies by using the form on this page.

It’s the benefit we have at Good Life Protection being an Independent Agency that can offer rates with all life insurance companies.

It’s the only way to ensure you are obtaining the cheapest possible price for your life insurance coverage.


Knights of Columbus Life Insurance Company History

The Knights of Columbus (KofC) was founded in 1882 in the basement of St. Mary’s Church in New Haven, Connecticut by a Catholic priest named Father Michael J. McGivney.  

Father McGivney recognized the need for a mutual aid society for his parishioners.

Many Catholics were immigrants working in dangerous conditions at the time.

Many family breadwinners were tragically dying young and leaving behind their widows and orphaned children with little financial resources.  

As a result, the Knights of Columbus was created.

Father McGivney’s proto-insurance system, protected Catholic families in his parish from financial devastation should the primary income earner pass way by banding together Catholic men in unity, charity, and fraternity.

The Knight of Columbus became the Catholic alternative to American Freemasonry.  

To combat anti-Catholic and anti-immigrant prejudice of the time and to show the fledgling group’s patriotism to the United States, the fraternity chose to name itself after Christopher Columbus, a famous Catholic closely connected to the American story.

Today, the Knights of Columbus is one of the largest fraternal insurance companies in the United States with over $100 billion of life insurance in force.  

The Knights of Columbus offers other insurance products for its members, such as disability insurance, long-term care insurance, and annuities.   

What separates the Knights of Columbus from other life insurance companies is their commitment to operating as a Catholic company.  

The Knights of Columbus adhere to a strict investment screening process to invest their insurance premiums in accordance with Roman Catholic beliefs.

The Knights of Columbus also give generously to the Catholic Church and Catholic causes throughout the world.  

In the past decade alone the Knights of Columbus has donated over $1.55 billion to noble charitable causes.  

Recently, the Knights of Columbus restored the facade of St. Peter’s Basilica in Vatican City, which was completed in 1999 in time for the millennial Jubilee.

The Knights of Columbus Life Insurance Company Rating

Knights of Columbus Life’s balance sheet is rock-solid. Knights of Columbus Life received a rating of “A++” (Superior) from A.M. Best.  

You cannot get better than A++.  Knights of Columbus Life can be seen as being in stable financial health with confidence in their claims paying ability.

If your looking for the best possible rates, use the no obligation quote form below to compare rates from over 50 of the top rated life insurance companies!

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Knights of Columbus Life Credit Rating Snapshot

The Better Business Burea has accredited the Knights of Columbus Life since 2002.  

Additionally, The Knights of Columbus have the BBB’s highest rating A+. 

Every company will make a mistake now and then. However, with the Knights of Columbus mistakes are the exception rather than the rule.

Knights of Columbus Life Insurance Solutions

Knights of Columbus Life offers term life, universal life, and whole life insurance.  

They also provide other financial services products, such as Knights of Columbus Life annuities, investments, and Knights of Columbus Life long-term care insurance. 

We’ll touch on the KofC’s other lines of insurance, but keep the focus on their life insurance products. 

Knights of Columbus Life Term Life Insurance

Term life insurance is an inexpensive way to buy higher amounts of death benefit for temporary amounts of time.  

Some common uses we see for term insurance within our agency are income replacement, covering debts like a mortgage, or providing money for higher education.

Knights of Columbus Life issues term life insurance in 10-year, 15-year, and 20-year term increments.  

Your Knights of Columbus term life insurances monthly premium is guaranteed never to go up during the term period that you select beforehand. 

After your level-term period ends, you can keep paying the policy, but your premiums will increase sometimes substantially. 

Therefore, in practice, most people will either replace or convert their term policies before their level-term period ends. 

All of Knights of Columbus Life’s term life insurance policies come with a conversion option built into the contract.

 The conversion option allows you to convert your temporary term coverage into a permanent life insurance policy, like whole life insurance, without having to provide evidence of insurability. 

If you want to maintain life insurance past your term period, but cannot qualify medically, this is a great option.

Knights of Columbus Life uses mostly traditional life insurance underwriting, which may involve a medical exam or saliva sample with an agent, which some people may find invasive. 

There are no-exam life insurance options on the market, but the KofC doesn’t specialize in that area. 

We would recommend looking at our best no-exam life insurance companies list for no-exam life insurance companies that specialize in that type of underwriting.

Knights of Columbus Life Whole Life Insurance

Knights of Columbus Life is well known for its participating whole life insurance, which pays dividends to its fraternal members who own this policy. 

Whole life insurance is the oldest form of permanent life insurance and provides the greatest amount of guarantees from the life insurance company.  

Today whole life insurance is used to cover final expenses or used in estate planning mostly. 

However, some policies do accumulate a substantial amount of cash value over the years.  

If you get in a bind, you can request a tax-free loan from the life insurance company that is backed up by your death benefit. 

You can choose to repay this loan or have your death benefit extinguish it upon your passing.  It is up to you.

Policy dividends can be used in the following ways:

  • Reinvested within the policy to as paid-up additions (additional paid-up death benefits)
  • Allocated toward your premium payments
  • Earn interest in a Knights of Columbus Life interest account
  • Pay down any loan balances or interest
  • Received as a cash payment

One standout feature about Knights of Columbus Life’s whole life policy is that you can choose in how many years you want to pay the policy off. 

After you choose your premium payment duration, your premiums are guaranteed never to change. 

After your designated premium period, the death benefit is paid up for the remainder of your life.

Knights of Columbus Whole Life Options:

  • Single Premium Whole Life
  • 10-Pay Whole Life
  • 20-Pay Whole Life
  • Whole Life Paid-up at age 65
  • Whole Life Paid-up at age 100
  • Graded Premium Whole Life (premiums gradually increase before leveling off)
  • Discoverer Whole Life (Term and Whole Life Blended policy)
  • Guaranteed Issue Final Expense Whole Life

Also, Knights of Columbus Life offers a survivorship universal life insurance policy.  

Survivorship policies are also known as second-to-die life insurance or joint whole life insurance.  

Their purpose is to provide expedient liquidity upon the death of the second insured and are used mostly in estate planning today. 

One interesting area of Knights of Columbus Life Insurance is the fraternal benefits and riders that come with the policies, such as the spousal waiver of premium that pays your spouse’s Knights of Columbus premiums when you pass away. 

Fraternal Benefits to KofC policyholders:

  • Guaranteed life insurance benefits for uninsurable children
  • Death Benefits available for stillborn or miscarried children
  • Orphan benefits
  • Member/spouse accidental death benefits

How Do Knights of Columbus Life Agents Work With their Customers?

Knights of Columbus life insurance products are usually sold by their fraternal agent force  

These Knights of Columbus life insurance agents typically can sell Knights of Columbus annuities, long-term care insurance, and disability insurance in addition to life insurance to their members and their families. 

In addition to the life insurance products that the agents sell, you will receive personalized services. 

Knight of Columbus agents provide complimentary and comprehensive financial analysis to help members identify their risks and goals.  

Also, Knights of Columbus agents offer end-of-life planning workbooks at no cost to you to help prepare your final wishes when the time comes.

To join the Knights of Columbus, you need to be a Catholic male over the age of 18 in good standing with the Roman Catholic Church.  

This restricts Knights of Columbus life insurance to a very targeted group of men along with their spouses and children.

This approach to doing business may suit people looking to purchase their life insurance from an organization that shares the same religious values that they do.  

However, it does have some drawbacks.

A Knights of Columbus agent may not have access to a broader range of insurance solutions that best fits your scenario if you have a pre-existing medical condition.

If you are here it is probably because you want the best life insurance deal you can find. 

We recommend working with an independent life insurance agent who can broker multiple companies.  

Independent life insurance agents might not share your religious views, but their job is to find you the best deal.

Since life insurance is something you need to qualify for based on your health and other factors,  consulting with an independent agent ensures you receive an accurate quote as opposed to an estimate that you may not even be eligible for.

Knights of Columbus Life Rates

Knights of Columbus Life does not publicly display their rates on their website.  

As a result, you would need to contact a Knights of Columbus fraternal agent for a quote. 

You can always compare the rates of multiple life insurance companies as well before you make your final decision though.

Call one of our agents or request a free no-obligation quote now from our website to review your options. 

The Knights of Columbus Life Insurance Company phone number is 1-(800)-380-9995, or you can visit them on the web at the Knights of Columbus Life website to request a KofC quote.

The Final Word: Is Knights of Columbus Life Insurance Good or Bad?

Some people like the idea that their life insurance premiums are being used to further works and beliefs that they are passionate about.  

A Knights of Columbus Life agent can offer you different types of life insurance solutions that will fund the Roman Catholic fraternity’s mission rather than the bottom line of a publicly traded company.

However, while Knights of Columbus Life offers quality life insurance products, they are not always the most competitively priced solution out there.  

Since Knights of Columbus Life agents can only sell KofC life insurance products, they might not have what you are looking for. 

If you have a pre-existing condition, want the lowest rate you can find, or don’t want to take a medical exam, Knights of Columbus Life might not be the best life insurance company for you.

Nevertheless, Knights of Columbus Life has a long company history of serving their fraternal members and the greater Catholic community. 

The Knights of Columbus has grown beyond life insurance offering long-term care insurance, annuities, and disability insurance services to their policyholders.

  Overall, Knights of Columbus Life’s life insurance is a trustworthy option, but if you are not a Roman Catholic, they will not even be a consideration for you.

Each life insurance company has different opinions on rates and underwriting. 

A knowledgeable independent life insurance agent will know what companies will offer you the best value to protect your family.

If you are looking for life insurance, don’t hesitate. 

Request a free no-obligation quote, or call on of our veteran life insurance agents for a consultation today. 


Resources: Knights of Columbus

Joseph Cirillo of Good Life Protection

Joe is a lifelong learner with a passion for sharing what he has learned with others. Joe has publicly spoken on life insurance in the past to both colleagues at industry conferences and to consumers in educational settings and as a contributor to industry blogs.  Additionally, Joe is studying for certifications such as the CFP, CLU, and RICP to further his professional knowledge.