Compass Newsletter

Volume 13 Issue- 1

Page-2

Insurance Corner

The Field Agent supporting our council’s insurance needs is David Gates, and he’d love to meet you. His contact information is below:

Dave Gates: 673-1182

Email: david.gates@kofc.org

World War I – known at the time as “The Great War” - officially ended when the Treaty of Versailles was signed on June 28, 1919, in the Palace of Versailles outside the town of Versailles, France. However, fighting ceased seven months earlier when an armistice, or temporary cessation of hostilities, between the Allied nations and Germany went into effect on the eleventh hour of the eleventh day of the eleventh month. For that reason, November 11, 1918, is generally regarded as the end of “the war to end all wars.”

In November 1919, President Wilson proclaimed November 11 as the first commemoration of Armistice Day with the following words: "To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has

For this month’s column, I thought a little “Life Insurance 101” might be beneficial.

Whole life insurance calls for premiums to be paid for your entire life, or to age 100. You may also consider another permanent life insurance product – one with guaranteed cash values – that offers a limited period of premium payments. The Knights of Columbus offers three permanent life insurance products for which premiums do not have to be paid for all of life.

“Twenty Pay Life” is exactly as the name suggests – a permanent plan with premiums payable for 20 years. After the premiums are paid for the 20 years, the plan is “paid up” and no more premiums are due. Unlike its term counterpart, however, the plan stays in force, the death benefit remains intact and the guaranteed cash value continues to grow.

nother such plan is our “Life Paid Up at 65.” You buy this permanent product and you only pay premiums to age 65. Then, premiums stop (just in time for retirement), but the plan remains very much in force.

Finally, the ultimate in limited pay is our Single Premium Life product. Imagine buying life insurance – permanent life insurance – and only paying one single premium? It’s possible.

I have detailed information on all of these products. At your convenience, I’ll meet with you and your wife to perform a free, custom-tailored needs analysis, to help determine which of our many life insurance products is right for you and your family..