The Knights of Columbus recorded its 12th consecutive year of growth in volume of insurance issued. Its amount of insurance in force has more than doubled to $88 billion in that 12-year period.
In 2012, despite the turbulent economy, the Knights issued $8.1 billion in life insurance – more than in any of its previous 131 years of operation.
"More than a century ago, the Knights of Columbus was founded to provide for the spiritual and financial needs of Catholic families and to engage in charity in the community," said CEO and Supreme Knight Carl Anderson. "Our record-breaking year reflects that this two-fold mission remains the key to our success. Those we insure aren’t just policyholders; they are brother Knights and their families. When buying a policy with us, they not only protect their families but also enable us to support our Church and those most in need in our communities."
The Knights enjoy one of the lowest lapse rates in the industry. Also contributing to the organization’s record-setting success is a product line designed to offer life insurance, annuities, disability income and long-term care policies that meet the needs of today’s family. In addition, the Knights of Columbus has long had a sterling reputation for financial security.
For 37 consecutive years, the Knights of Columbus has earned an A++ (Superior) rating from A.M. Best Company for its financial stability, and there is no more highly rated life insurer in North America.
The organization is also at an all-time high in the number of field agents representing it throughout the United States and Canada. Those agents set monthly sales records last year in February, May, August and November.
In addition to protecting the financial well-being of its members, the Knights of Columbus is one of the most active charitable organizations in North America. Knights last year also set charitable records by providing more than 70 million hours of charitable service and over $158 million in donations to charitable causes. Cumulative figures show that during the past decade the Order has donated $1.436 billion to charity and provided more than 664 million hours of volunteer service in support of charitable initiatives.