Summer is in full swing, vacations and backyard barbeques, outdoor sports, and yardwork! I look forward to this time of year with flowers in bloom and thoughts of a much-needed and anticipated summer vacation. I hope your summer is going well for you!
In last month’s message, I mentioned taking stock of all the things that need to be done around the house. And I further suggested that taking stock should extend to seeing where you and your family stand when it comes to financial protection. It’s interesting to read about Blessed Michael McGivney’s attitude in Faith and Fraternalism by Christopher J. Kauffman: “Though he [Fr. McGivney] seems to have been well aware of the value of ceremonials as the binding force for fraternal unity, he spent his energy in promoting the insurance feature.” You know the story well; how the untimely death of his father nearly derailed Fr. McGivney’s plans to become a priest. As the curate of St. Mary’s, he encountered families in similar situations. So, it’s no wonder he was so practical when it came to making sure families were financially sound.
In my position, I feel a deep kinship with Fr. McGivney in helping to protect Catholic families. I see myself as your partner in facing this planning process. You don’t have to go it alone. With our new financial needs analysis tool, with cutting-edge software, robust and in-depth, we can approach this together. Since my last message, a number of members reached out to me. Let me give you a fictionalized account about two of them. I recently met with a brother Knight and his wife who have a couple of young children. Together, we were able to see that based on what this couple wanted for their family, there was a need in two particular areas. One, the brother’s group life insurance, while free as a benefit, was not enough to do what he wanted his life insurance to do. He desired more to make sure, if he had an untimely passing, his wife and children could stay in the same home, could still attend Catholic grade school, and could afford to make a college education a reality. The other area that he had not thought about was what I call the “death of his earning power.” What if he became sick or hurt and could not work? His employer provided very minimal coverage for a few months, but after that there was nothing. We explored how the Knights could fill that void and make his family whole. All this from spending time with me. The best part for him…and for you, is that this service is absolutely free. Many others in the industry charge fees for this kind of analysis. It’s a fraternal benefit that our agents are happy to provide.
The other couple was recently retired. Well past the stage of this former young couple. The Agent completed a financial needs analysis for them. They were in very good shape financially; had all their proverbial ducks in a row in almost every area. The area that they were concerned with was an extended care event. How could they protect all that they had worked for and saved in the event of needing help with daily living activities? The Agent was able to help them plan for that and shift the financial burden to the Knights. The other issue they looked at was setting aside a little of what they had saved to help their grandchildren. We were able to set up a plan to pass that money tax free to them.
Maybe you have similar concerns; meeting with your agent can allay them. He is your partner as we share our brotherhood in the Order. That kind of relationship is rarely found elsewhere in the financial services world. Let’s get together and see where you stand.