State Insurance Relief Notices During the COVID-19 Pandemic

NJ Notice of Insurance Relief During the COVID-19 Pandemic

Attention New Jersey Policyholders:

Due to the COVID-19 pandemic, the New Jersey Commissioner of the Department of Banking and Insurance promulgated an emergency measure directing life insurance carriers to offer certain relief measures to policyholders in financial hardship. These relief measures include the following:

• The grace period for the payment of premiums and fees has been extended to 90 days for policyholders facing financial hardship resulting from the pandemic.
• Customers who demonstrate hardship may make arrangements to pay any back premium over a 12 month period.
• The period to exercise policyholder and contract holder rights and benefits has also been extended 90 days.
• Customers may still voluntarily cancel coverage if they choose to do so.

If you wish to discuss billing, alternative payment arrangements, or have any questions about this notice, please contact us at our toll-free number, 1-800-380-9995. The Knights of Columbus is here to help, and we hope that you and your families are safe and healthy during this difficult time.

NY Notice of Insurance Relief During the COVID-19 Pandemic

Attention New York Policyholders:

On March 30, 2020 the Superintendent of Financial Services promulgated an emergency measure directing life insurance carriers, including Knights of Columbus, to offer the following relief to policyholders who can demonstrate financial hardship as a result of the COVID-19 pandemic:

• The grace period for the payment of premiums and fees has been extended to 90 days for any life policyholder facing a financial hardship as a result of the COVID-19 pandemic.
• Knights of Columbus will not impose any late fees relating to a late premium payment from any customer demonstrating a hardship as a result of the COVID-19 pandemic.
• Customers who demonstrate hardship may make arrangements to repay any back premium over a 12-month period.
• Customers may still voluntarily cancel coverage if they choose to do so.

If you wish to discuss billing, alternative payment arrangements, or have any questions about this notice, please contact us at our toll-free number, 1-800-380-9995. The Knights of Columbus is here to help, and we hope that you and your families are safe and healthy during this difficult time.