Another great year of insurance growth and service

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2/1/2011

A tenth consecutive year of growth is a terrific topic for a column. 2010 was such a year for the Knights of Columbus Insurance program, which grew in every category. This is a pretty remarkable feat, especially considering the economic conditions of this past decade. Let me share a few of the Order’s accomplishments with you.

• During 2010, the Order issued more life insurance than ever before in our history: $7.77 billion.

Our total insurance in force reached a new high of $78.9 billion. To put this remarkable number in perspective, consider that at the end of 2000, we stood at $40.4 billion.

• Our field force continues to grow, and we finished the year with a net gain of new agents. We are continually looking for new agent candidates to serve our growing membership in the U.S. and Canada. The ultimate goal is to have all of our members served by a dedicated, full-time agent.

• In July, we held our second Field Agent Sales Conference in Dallas, TX, an event that gathered a record number of field agents under one roof to learn from the best agents in the Order how to better serve their brother Knights and their families.

• During 2010, we celebrated an extraordinary seven months that were in the “best ever” category. Records were set in January, February, March, April, May, September and November.

• Our annuity business continued to grow from its record numbers in 2009. More than 20,000 new annuities were issued to our members and their families in 2010.

• Our AAA (Extremely Strong) rating from Standard and Poor’s was reaffirmed for the 18th consecutive year and our A++ (Superior) rating from A.M. Best was reaffirmed for the 35th consecutive year.

• Members and their wives also accepted more long-term care policies in 2010 than they did in 2009. As the costs of care continue to rise, we expect that more and more clients will take advantage of our K of C Care product, which was designed with their needs in mind.

• Our number of associate members becoming insured members continued to grow, showing more of our brothers availed themselves to our products. In fact, the number of members moving from associate to insured status in 2010 was the highest in the past five years. We hope this trend continues and that more members understand the value of owning our products.

Please understand my purpose in sharing these statistics with you. First, take pride in the success your organization is having in fulfilling the vision of Father Michael J. McGivney by caring for the financial security of our members and their families. Second, I want to remind you that today is a great day to become an insured member or review the policies you might already have with us. Start a discussion with your agent. If you don’t know who he is, please visit www.kofc.org and click on “Find an Agent.” You’ll be glad you did.