Catholic Life Insurance

[Insuranceguy1985]

Any agents out there have experience with this company.....i checked out their website and they are not affiliated with the Catholic church, even though they are called Catholic life insurance...but do any agents have any experience dealing with this company first hand (especially dealing with death claims etc). Why would anyone want to get insured by a fraternal organization?

 

[Focus LTC]

Why would anyone want to get insured by a fraternal organization?

Why wouldn't they?............................

 

[tins]

Lots of people love Knights of Columbus.

 

[Insuranceguy1985]

well thanks for the socratic method reply there....but maybe ill reword this question....What are the advantages of being insured through a fraternal organization as opposed to a stock/mutual company. Do they work more efficient, do they only cater to certain groups, etc etc? I have a client who is comparing companies but I am not familiar with this company since its the first time ive heard of them...any input from an agent whos dealt with this company would be much appreciated

 

[tins]

well thanks for the socratic method reply there....but maybe ill reword this question....What are the advantages of being insured through a fraternal organization as opposed to a stock/mutual company. Do they work more efficient, do they only cater to certain groups, etc etc? I have a client who is comparing companies but I am not familiar with this company since its the first time ive heard of them...any input from an agent whos dealt with this company would be much appreciated

I write for a fraternal called Western Catholic Union...I'm thinking it may have some similarities.
The main reason people go with them over a traditional life ins. company, is price. They have other fraternal benefits, but I don't bring those up when presenting. Purely, for a better price. Great for replacement business.

 

[Insuranceguy1985]

Lots of people love Knights of Columbus.

I thought you had to be a member to get insurance through Knights of Columbus?

 

[BNTRS]

Conspicuous consumption my friend. Like an Amex Platinum card. I want people to know that I pay for the privilege of having features and benefits everyone else gets for free.

Plus, they won't let just anyone pay them $450 a year just to have the card.

 

[padthaiforlunch]

One of my clients bough KoC WL long ago. About a year ago they hit him up for a premium increase if he wanted to maintain his projected cash value.

 

[Newby]

There are several Catholic Fraternals. Some of them seem fly by night.

One of them used to send us mailers that had a picture of 3-nuns praying and a large centerfold 8X10 of the pope. It said that if you bought their policy those nuns will pray for you every day.

It was ALMOST over the top.

 

[rousemark]

Why wouldn't they?............................

No protection if the company goes belly up.. Most state guaranty plans don't cover fraternal.