INSURANCE CORNER                                                            Joe Kelly

PAID UP ADDITIONAL RIDERS                                                                                

Paid Up Additional(PUA) riders are an new addition to the Knights of Columbus
 range of products.                                                                   

What are they?  PUAs are riderst can be attached to most new Whole Life  policies.
 They come in two types, a single once off payment and an annual payment.   

 What do they do? They provide for additional coverage on the base policy.
 For instance a person takes out a $50,000 Whole Life policy and agrees to pay 
the premium on that policy each year. Knights of Columbus policies are fully paid 
up at ages 65 or 100 or in 20 years from the start date.  The PUA is fully paid up
 insurance at the time of purchase. As such it grows cash value and death benefit  
without any further payments required. A powerful advantage of PAUs is that
 coverage is given at the standered rate even if the base policey has a rating
 up to D.

 As outlined the rider can be a once off purchase or can be an annual purchase. 
Up to ten times the base policy can be acquired by this method.                                                                                                          

Who Needs It? 

   Those who need guaranteed coverage for life.  

   Those who want supplemental income, such as an annuity.                        

   Those who want life insurance to remain predictable and affordable throughout life                                                                                              

   Those who want an asset protected from creditors.                           

   Those who want help in equalizing estate distribution for heirs.                   

   Those want the freedom to spend other assets                                   

   Those who are seeking to maximize retirement income for their surviving spouse.                                                                                        

   Those who want to maximize the legacy they bequeath to their children and 
others including charities.                                                                    

 And remember life insurance is usually tax free to the benificary       

Feel free to ask me for more information Call 631-615-2177 or 631- 672 -4971 
  email joseph.kelly@kofc.org

Six Great Reasons to Insure Children      Joseph Kelly

Parents often have trouble grasping the logic in buying insurance on their child, because of the strong emotions stirred by the thought of losing a child. Although it’s unpleasant to consider the mortality of one’s child, there are reasons why a parent should insure a child for his/her future benefit. Consider the following reasons.

1. Financial Protection: When we lose a loved one, especially a child, the financial loss is often not just the cost of the funeral. Parents may lose time from work to care for a dying child or during a bereavement period. A policy on the child helps offset funeral and other costs, and can help supplement income.

2. Protecting Insurability: With a Guaranteed Purchase Option (GPO) rider attached, our plans guarantee the child the opportunity to purchase more protection in the future without having to offer evidence of insurability. Our GPO rider allows children to increase their coverage seven times between the ages of 17 and 40, regardless of health. They can also apply for up to $100,000 of additional coverage each time, pending underwriting.

3. Lower Premium Rates: The rates will never be any better than they are right now. Plus, if you consider the amount of coverage that your children will likely need given inflation, a juvenile policy could save them thousands of dollars in the future.

4. The Order’s Orphan Benefit: If the member/father is in good standing

with his local council and at least one of the parents is insured with the Knights by a policy of at least $5,000 of permanent coverage or $150 annual premium, each insured child would receive a monthly benefit of $80 to age 19 (age 23 if they attend college) if both parents die. The child must be insured by an individual Knights of Columbus certificate.

5. Cash value: Knights of Columbus plans offer terrific cash and dividend values to help supplement the cost of potential future expenses, such as the purchase of a home, marriage, or the child’s retirement later in life.

6. Creating a Legacy: The plan is also in place to protect your child’s

future family – your grandchildren. Life insurance for your child is a lasting gift, which they will look on later in life as one of their most cherished assets.

Joseph Kelly, Field Agent; 631-615-2177, 631-672-4971.email  joseph.kelly@kofc.org

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