As we age, the need for long-term care becomes increasingly likely. Statistics show that 70% of people over age 65 will require some form of long-term care during their lifetime

Whether it’s assistance at home or care in a skilled nursing facility, the costs can be substantial—and traditional health insurance or government programs like Medicare often fall short. That’s where Long-Term Care Insurance comes in, and for Catholic families, the Knights of Columbus offers a faith-aligned option worth exploring.

What Is Long-Term Care Insurance?

Long-Term Care Insurance helps cover the costs of extended medical care, either at home or in a facility. The Knights of Columbus policies work by establishing a pool of money, known as a maximum lifetime benefit, which policyholders can draw from to pay for qualified long-term care expenses

Key Features of Knights of Columbus Long-Term Care Insurance

Knights of Columbus offers a range of customizable options to suit different needs and budgets:

Coverage Types:
- Comprehensive Coverage: Covers care at home or in a facility.
- Facility-Only Coverage: Covers care in a skilled nursing or assisted living facility.
Benefit Periods:
- Choose from 3, 5, or 10 years, which determines the size of your benefit pool.
Daily Benefit Amount:
- Set with the help of a field agent, this amount affects your total coverage and premium.
Elimination Periods:
- Options include 30, 90, or 180 days, functioning like a deductible before benefits begin.
Inflation Protection:
- Riders like 3% or 5% compound inflation help your benefits keep pace with rising care costs2.
Spousal Benefits:
- Discounts up to 30% for couples applying together, and shared benefit options allow spouses to access each other’s coverage if needed.

Who Is Eligible?

Knights of Columbus insurance products are exclusive to practicing Catholic members and their spouses

This membership-based model aligns with the organization’s mission but may limit access for non-members.

Considerations and Caveats

While the Knights of Columbus is a financially stable organization with high ratings (A+ from A.M. Best, AA+ from S&P Global), there are some important caveats:

“Usual and Customary” Clause:
- This policy language allows the insurer to determine whether a claim is “usual and customary,” potentially limiting benefits even after approval.
Not Partnership-Certified:
- Unlike some other providers, Knights of Columbus does not offer partnership-certified policies, which can protect assets if you need to apply for Medicaid after exhausting your benefits.

Is It Right for You?

If you’re a Catholic looking for insurance that aligns with your values and offers personalized service, the Knights of Columbus may be a strong contender. However, if you’re seeking broader protections or partnership benefits, it’s wise to compare with other providers.

Final Thoughts

Long-Term Care Insurance is a vital part of financial planning for retirement. The Knights of Columbus offers a meaningful option for Catholic families, combining faith-based service with customizable coverage. As always, consult with a Knights of Columbus field agent or a Long-Term Care Insurance specialist to determine the best fit for your needs.