I have received quite a number of calls from brothers concerned about the
market volatility of late.
Would you disperse this message from the Supreme Knight Carl Anderson to
our brother Knights.
I urge all members to go to the kofc.org website to read more on what
follows:
9/18/2008
Statement on Financial Services Markets and the Knights of Columbus
The upheaval in the financial markets in recent days has caused a great
deal of concern virtually everywhere, among financial services
professionals, regulators and consumers alike. Every major financial
institution has been affected by the turmoil because of the complexity of
our economy, and we are no exception.
But I report to you today that there is no reason to be concerned about the
value of your Knights of Columbus annuity or life insurance. Because of our
very conservative approach to investing our $14 billion in assets, the
impact on the Knights of Columbus has not been material, in other words, it
has been minimal - far smaller than for many other organizations and the
industry as a whole. We have purposefully avoided investing in the highly
complex and speculative investments that have brought disaster to some of
America's most well known companies.
Fraternal Agent's Report
As we begin the month of November let us remember our Brother Knights who
have passed on along with those spouses who have entered into their holy
reward. Remember it was because of such tragedies that Fr. Michael J.
McGivney was inspired to start the Knights of Columbus. What if each family
were to remember our Founder by praying for his canonization?
We have been overwhelmed this past months with Brother Knights moving money
from their IRAs, 401Ks, 403bs, portfolios to the safety (A.M. Best A++ and
S&P AAA) of the Order. No Knights have lost any of their principal and
their annuities continually grow.
Effective October 1st, the new 800 Series of products has been issued.
Premiums are lower as the new mortality tables are in force. This would be
a good time to review your situation.
There is now a Guaranteed Issue Whole Life Policy available to those who
would otherwise not be insurable. It can be issued through age 65.
The popular Term to Age 30, the lowest premium (about $3/monthly) child
policy will be phased out. If you want it you must apply before year end.
If you want to make deposits into or stat an IRA, Roth IRA... for this
year, let me know.
In view of the market conditions, the importance of your annual Fraternal
Review is paramount.
Call me and let me know when you would like to meet.
Fraternally,
Tom
625-2444