How does it work?
Knights of Columbus retirement annuities come with many different payment and plan types (see below) which determine the nature of the annuity. Once established, the money within a Knights of Columbus annuity continues to earn value, before eventually disbursing according to the options that you elect.
Knights of Columbus annuities also come with two important guarantees.
First, with a Knights of Columbus annuity, your principal is guaranteed. Regardless of market condition or company results, your Knights of Columbus annuity will not lose value.
Second, each Knights of Columbus annuity comes with a guaranteed minimum interest rate. No matter the market fluctuations, your annuity is guaranteed to never earn less than the contractually stated amount on an annual basis.
What options do I have?
Payment Type
There are three payment types for Knights of Columbus annuities:
Single Premium Annuity – You make a single, lump-sum payment that accrues interest until you elect to begin withdrawals.
Flexible Premium Annuity – Premium payments can be made on a regular or irregular basis. We encourage Electronic Transfer of Funds (EFT) with the frequency of payments determined by you. In addition, you have the option to choose your payment schedule.
Single Premium Immediate Annuity – Purchased with a single payment, it begins to pay out immediately.
Plan Types
In the United States, the Knights of Columbus annuities have three available plans:
Non-Qualified Annuity
Traditional Individual Retirement Annuity
Roth Individual Retirement Annuity
The Knights of Columbus also offers Tax Sheltered Annuities (TSA) and Simplified Employee Pension (SEP) options.
Knights and their families in Canada have two retirement annuity options:
Registered Retirement Savings Plan
Tax-Free Savings Account
A special hybrid life insurance and retirement annuity product – a Registered Retirement Savings Plan Single Premium Whole Life insurance policy – is also available in Canada.
Contact your Knights of Columbus field agent today to learn more about our retirement annuities, and about the safety and security that we can help provide.
Financial concerns remain consistent: long-term care, financial security of dependents, credit card debit and having a comfortable retirement. Schedule time with me to talk about all of your financial concerns. #KofCInsurance
Knights of Columbus, One Columbus Plaza, New Haven, CT 06510