The Knights of Columbus is a global Catholic fraternal organization founded in 1882 to serve working and immigrant American Catholics. It is the world's largest Roman Catholic fraternal service organization.

The Knights of Columbus primarily sells life insurance and annuities but also offers Long-Term Care Insurance products.

Knights of Columbus is a members-only organization, meaning only Catholic-practicing members and their spouses are eligible for insurance offerings.

The organization has a strong global presence and is also a wholly owned insurance company, ranking on the Fortune 500 list. Other rankings include:

• A+ from A.M. Best Company, Inc.
• AA+ from S&P Global.

Long-Term Care Insurance with Knights of Columbus

Knights of Columbus offers Long-Term Care Insurance; however, it's not its primary focus. These policies are also limited to practicing Catholic members of the organization or their spouses.

In addition, Knights of Columbus uses unique policy language that may prevent or limit Long-Term Care Insurance benefits. Because of these discrepancies, LTC News did not recommend Knights of Columbus in the annual Long-Term Care Insurance review.

Below, we'll explain the nuances of coverage with Knights of Columbus so you can decide if it's the right insurer for you. 

“Usual and Customary” Policy Language

One of the most concerning aspects of coverage with Knights of Columbus is the "usual and customary" policy language. This clause allows the Knights of Columbus to determine if your charge is "usual and customary" at the time of claim. 

This clause is not usually found in other Long-Term Care Insurance contracts. All other LTC Insurance providers will fulfill your claim in full when it is approved. 

Knights of Columbus, on the other hand, will take an extra look to determine if it is "usual and customary" regardless of how many benefits you have or the cost of care. 

This clause could potentially limit the policy's total benefits and may even prevent policyholders from getting the care they need.

Not Partnership Certified

The Knights of Columbus are not partnership-certified and do not offer partnership-certified Long-Term Care Insurance policies. This is a significant drawback, as partnership-certified policies provide critical protections.

The partnership program offers dollar-for-dollar asset protection on Long-Term Care Insurance policies. This means that policyholders who exhaust their policy benefits can qualify for Medicaid to cover additional care costs without having to spend down their assets to meet Medicaid's financial eligibility requirements.

The program also protects policyholders from estate recovery, which is when Medicaid claims a portion of the policyholder’s estate after death to repay the cost of care.

The majority of Long-Term Care Insurance providers offer partnership-certified policies. Since this option is commonly available with other insurers, the Knights of Columbus’s LTC Insurance policies are at a disadvantage in comparison. 

Key Features & Benefits 

As mentioned earlier, Long-Term Care Insurance with the Knights of Columbus is available only to Catholic members and their spouses. This restriction can be a significant drawback for those who are not religious or do not wish to become members.

However, for those who are members, the Knights of Columbus offers many valuable Long-Term Care Insurance benefits, including:

• Monthly benefits from $1,500 to $15,000 per month.
• Pool of money benefits with a 3, 5, or 10-year benefit period.
• Facility-only or comprehensive coverage options.
• Inflation options of 3% and 5% compounded inflation.
• A future purchase option allows policyholders to buy more benefits each year, even as they need long-term care. New purchases are subject to different underwriting standards based on the policyholder's health and age at the time of purchase. It is generally recommended to choose inflation benefits instead of a future purchase option, as the latter is typically more limiting and expensive.
• Elimination period options of 30, 90, or 180 days.
• Coverage of home modifications means your policy will cover home care modifications like installing a wheelchair lift or grab bars.
• Case management is when a professional coordinates and manages your care, ensuring all care professionals you work with are aware of your conditions, medications, and overall health needs.
• Spousal discounts are available for spouses who both have Long-Term Care Insurance.
• The shared spousal benefit option allows spouses to share benefits if one or both of the spouses use all the money within their individual policies. Choosing this option limits the other selections available, such as a spousal discount.

How Hard Is It to Qualify for a Policy with Knights of Columbus?

Qualifying for a policy with the Knights of Columbus depends on a few variables:

• Membership status: Individuals must be a practicing Catholic member or spouse of a member before they can apply for a policy.
• Long-term care needs: It is impossible for someone who currently needs long-term care to qualify for a new LTC Insurance policy.
• Pre-existing conditions: Those with health conditions, such as dementia, may be disqualified from new coverage. Other health conditions like diabetes or high blood pressure may raise premiums but would still be insurable as long as they are well-managed with medications or other treatments.
• Old age: As you age, it becomes more difficult to qualify for a new LTC Insurance policy. Those in their 70s or older may pay a higher premium due to increased risk.

Each Long-Term Care Insurance provider uses a practice called underwriting to determine how risky it is to insure each applicant. Those who are at higher risk pay higher premiums, while those in good health and age pay lower premiums.

Every insurer has different criteria for categorizing applicants. A Long-Term Care Insurance specialist can clarify whether you would qualify for coverage or not. Specialists are experts at LTC Insurance and aren't tied to any particular company.

A specialist will consider your budget, long-term care needs, preferences, and health history to recommend the best company for you. Their job is to ensure you're getting the best coverage available at the best price possible. Specialists can also help you apply for coverage and file a claim in the future.

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Filing a Claim with Knights of Columbus

If you currently have a policy with the Knights of Columbus, LTC News can help you file a claim. Navigating new care needs alone can be frustrating and confusing, especially if you're actively looking for care while working with your insurance company.

LTC News has partnered with Amada Senior Care to address these concerns, offering cost- and obligation-free help with insurance claims.

Amada Senior Care is a top in-home healthcare agency operating nationwide. They can not only help you process a claim from any LTC Insurance provider but are also pros at finding high-quality long-term care, sometimes even at a discounted rate. 

Is Long-Term Care Insurance with Knights of Columbus Safe?

The Knights of Columbus have faced lawsuits about fraud and deceptive tactics on their life insurance policies. However, it is unclear if this has affected their Long-Term Care Insurance products as well.

In general, Knights of Columbus is a very financially stable and secure company, meaning there is a low risk of bankruptcy or falling through on claims.

That being said, its "usual and customary" policy language may make it more difficult to get necessary coverage if the company deems it unnecessary. This could potentially limit the benefits available within a policy.

All Long-Term Care Insurance policies in the United States are regulated under Section 7702(b), which determines federal requirements and consumer protections such as:

• Regulated benefit triggers.
• Tax advantages.
• Protection against excessive premium increase.
• Clear coverage expectations.

The Knights of Columbus's Long-Term Care Insurance products meet federal guidelines.

Shopping for Long-Term Care Insurance: What Are Your Best Options for Coverage?

The best Long-Term Care Insurance option for you depends mostly on your needs and preferences. If you're looking for a provider aligned with Catholic values, the Knights of Columbus could be a great option for you.

However, choosing a provider with more comprehensive benefits may work better if you're more interested in safe, tried-and-true LTC Insurance benefits. A Long-Term Care Insurance specialist can help you decide on the best provider for you.

LTC News' partnership with Amada Senior Care can help you file an insurance claim. Amada offers no-cost, no-obligation services that can help you or your loved one access benefits and get high-quality care as soon as it's needed.

LTC News also offers a Cost of Care Calculator, which provides the current and future median costs of various types of long-term care services.

This calculator can help you learn about and plan for the cost of long-term care. It can also help you determine how many benefits you should purchase within a Long-Term Care Insurance policy. 

In addition, LTC News has a Care Directory with thousands of long-term care providers from every corner of the country. This tool can help you find high-quality care close to home.

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