Insurance Program

Many early members were recent immigrants who often lived in unsanitary conditions and performed hazardous jobs for poor pay. Since its founding, a primary mission of the Knights of Columbus has been to protect families against the financial ruin caused by the death of the breadwinner. While this method originally was intended to provide a core group of people who would support a widow and her children after the death of their husband and father, it has flourished and matured into much more.

Today the Order offers a modern, professional insurance operation with more than $60 billion of life insurance policies in force. Products include permanent and term life insurance as well as annuities and long term care insurance. Insurance sales grew 19% in 2004, more than three times the rate of industry at large. The Order holds $13 billion in assets and had $1.5 billion in revenue and $71 million in profits in 2005. This is large enough to rank 72nd on the A.M. Best list of all life insurance companies in North America and places it on the Fortune 1000 list of top companies. Only three other insurers in North America have received the highest ratings from both A.M> Best and Standard & Poor. The Order is certified by the Insurance Marketplace Standards Association for ethical sales practices.