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===Modern program=== {| class="wikitable floatright" |- !style="background:#efefef; font-size:smaller"| Year !style="background:#efefef; font-size:smaller"| Insurance in force<br />(billions) !style="background:#efefef; font-size:smaller"| Assets<br />(billions) |- |style="background:#efefef; font-size:smaller"| 2023{{r|PJS}} |style="background:#efefef; font-size:smaller"| $121 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 2021<ref name="next" /> |style="background:#efefef; font-size:smaller"| $114 |style="background:#efefef; font-size:smaller"| $26 |- |style="background:#efefef; font-size:smaller"| 2020<ref name="cavan" /> |style="background:#efefef; font-size:smaller"| $110+ |style="background:#efefef; font-size:smaller"| $20+ |- |style="background:#efefef; font-size:smaller"|2019<ref name="Klemond" /><ref name="jean" /><ref name="distefano" /> |style="background:#efefef; font-size:smaller"|$109+ |style="background:#efefef; font-size:smaller"|$26+ |- |style="background:#efefef; font-size:smaller"| 2018<ref name="smith" /> |style="background:#efefef; font-size:smaller"| $109 |style="background:#efefef; font-size:smaller"| $26 |- |style="background:#efefef; font-size:smaller"| 2017<ref name="bennett" /> |style="background:#efefef; font-size:smaller"| $109 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"|2015<ref name="financial" /><ref name="sturdevant" /> |style="background:#efefef; font-size:smaller"|$99 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"|2014<ref name="frackville" /> |style="background:#efefef; font-size:smaller"|$100 |style="background:#efefef; font-size:smaller"|$24 |- |style="background:#efefef; font-size:smaller"|2013<ref name="kamal" /><ref name="et" /> |style="background:#efefef; font-size:smaller"|$90 |style="background:#efefef; font-size:smaller"|$19.8 |- |style="background:#efefef; font-size:smaller"| 2012<ref name="Buchta" /> |style="background:#efefef; font-size:smaller"| $88.4 |style="background:#efefef; font-size:smaller"| $19.4 |- |style="background:#efefef; font-size:smaller"| 2011<ref name="ramon" /><ref name="ripple" /> |style="background:#efefef; font-size:smaller"| $83.5 |style="background:#efefef; font-size:smaller"| $18.0 |- |style="background:#efefef; font-size:smaller"| 2010<ref name="product" /> |style="background:#efefef; font-size:smaller"| $79.0 |style="background:#efefef; font-size:smaller"| $16.9 |- |style="background:#efefef; font-size:smaller"| 2009<ref name="product" /> |style="background:#efefef; font-size:smaller"| $74.3 |style="background:#efefef; font-size:smaller"| $15.5 |- |style="background:#efefef; font-size:smaller"| 2008<ref name="product" /><ref name="fortune" /> |style="background:#efefef; font-size:smaller"| $70.0 |style="background:#efefef; font-size:smaller"| $14 |- |style="background:#efefef; font-size:smaller"| 2007<ref name="product" /><ref name="clark" /> |style="background:#efefef; font-size:smaller"| $66.0 |style="background:#efefef; font-size:smaller"| $13 |- |style="background:#efefef; font-size:smaller"| 2006<ref name="product" /><ref name="cnn06" /> |style="background:#efefef; font-size:smaller"| $61.9 |style="background:#efefef; font-size:smaller"| $12.2 |- |style="background:#efefef; font-size:smaller"| 2005<ref name="product" /> |style="background:#efefef; font-size:smaller"| $57.7 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 2004<ref name="product" /> |style="background:#efefef; font-size:smaller"| $53.3 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 2003<ref name="product" /> |style="background:#efefef; font-size:smaller"| $49.1 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 2002<ref name="product" /> |style="background:#efefef; font-size:smaller"| $45.6 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 2001<ref name="product" /> |style="background:#efefef; font-size:smaller"| $42.9 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 2000<ref name="product" /><ref name="kamal" /> |style="background:#efefef; font-size:smaller"| $40.4 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 1999<ref name="product" /> |style="background:#efefef; font-size:smaller"| $38 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 1997<ref name="mission" /> |style="background:#efefef; font-size:smaller"| $30 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 1992<ref name="pay" /> |style="background:#efefef; font-size:smaller"| $20 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 1990<ref name="chief" /> |style="background:#efefef; font-size:smaller"| $14 |style="background:#efefef; font-size:smaller"| $3.6 |- |style="background:#efefef; font-size:smaller"| 1981{{sfn|Kauffman|1982|p=428β429}} |style="background:#efefef; font-size:smaller"| $6.4 |style="background:#efefef; font-size:smaller"| $1 |- |style="background:#efefef; font-size:smaller"| 1976{{sfn|Kauffman|1982|p=428β429}} |style="background:#efefef; font-size:smaller"| $3.6 |style="background:#efefef; font-size:smaller"| $656 million |- |style="background:#efefef; font-size:smaller"| 1975{{sfn|Kauffman|1982|p=413}} |style="background:#efefef; font-size:smaller"| $3 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 1971{{sfn|Kauffman|1982|p=413}} |style="background:#efefef; font-size:smaller"| $2 |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 1964{{sfn|Kauffman|1982|p=397}} |style="background:#efefef; font-size:smaller"| $1+ |style="background:#efefef; font-size:smaller"| |- |style="background:#efefef; font-size:smaller"| 1960{{sfn|Kauffman|1982|p=413}} |style="background:#efefef; font-size:smaller"| $1 |style="background:#efefef; font-size:smaller"| |} The order offers a modern, professional insurance operation with more than $121 billion of life insurance policies in force and $26 billion in assets {{as of|2023|06|lc=y}}.<ref name="annualreport" /><ref name="next" /> This places the Order on the [[Fortune 1000]] list<ref name="bennett" /> and it is large enough to rank 49th on the [[A. M. Best]] list of all life insurance companies in North America.<ref name="fortune" /> Products include [[permanent life insurance|permanent]] and [[term life insurance]], as well as [[Annuity (US financial products)|annuities]], [[long term care insurance]], and [[disability insurance]].<ref name="kamal" /><ref name="ripple" /><ref name="sturdevant" /> The insurance program is not a separate business offered by the order to others, but is exclusively for the benefit of members and their families. All agents are members of the order.<ref name="agents" /> The order's insurance program is the most highly rated program in North America. For more than 40 consecutive years, the order has received A. M. Best's highest rating, A++.<ref name="100b" /><ref name="38 years" /><ref name="kamal" /><ref name="distefano" />{{efn|Standard & Poor's downgraded the insurance program's financial strength/credit rating from AAA to AA+ in August 2011 not due to the order's financial strength, but due to its lowering of the long-term sovereign credit rating of the United States to AA+.<ref name="Moody" /><ref name="snpdown" /> Other US insurance groups also downgraded by S&P from AAA to AA+ were [[New York Life Insurance Company|New York Life]], [[Northwestern Mutual]], [[TIAA-CREF|TIAA]], and [[USAA]] as, like the Knights of Columbus, their assets are highly concentrated in the US and they have significant holdings in US Treasury and agency securities.}} ''[[Forbes]]'' publishes an annual list of what it refers to as "America's Best Insurance Companies", and it has included the Knights of Columbus insurance program on this list since 2022.<ref name="Schwarz"/> The order maintains a two-prong investment strategy: a company must first be a sound investment before stock in it is purchased, and secondly the company's activities must not conflict with [[Catholic social teaching]].<ref name="comtois" /><ref name="sturdevant" /> The guidelines include protecting human life, promoting human dignity, reducing arms production, pursuing economic justice, protecting the environment, and encouraging corporate responsibility.{{efn|The full guidelines are published on the episcopal conference's website.<ref name="sri" />}}<ref name="comtois" /> As of 2017, it had been named a "World's Most Ethical Company" by Ethisphere Institute for five consecutive years.<ref name="bennett" /> Citing the awards they have won, the order calls themselves "champions of ethical investing".<ref name="financial" /> In 2017, over $965 million was awarded in benefits.<ref name="bennett" /> Since the founding of the order, $3.5 billion in death benefits have been paid.<ref name="2012SC" /> Additionally, the insurance program has a low 3.5 percent lapse rate of the 1.9 million members and their families who are insured.<ref name="kamal" /> Its insurance operation invests in loans to various churches, schools, and other Catholic institutions.<ref name="carey" /><ref name="short" /> {{As of|2008}}, over $500{{nbsp}}million had been loaned through the ChurchLoan program.<ref name="carey" /> At the outset of the [[COVID-19 pandemic]], the Order established a $100 million fund to provide short-term loans to help dioceses weather the economic storm.<ref name="short" /> Each diocese was eligible to obtain a $1 million secured line of credit.<ref name="short" />
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