Common Scams and Tips to Help!

New scams are always trending. Being aware may help you thwart their efforts. Here’s some information you might be able to use:

Common scams

Travel Scam #1 – Cancel for Any Reason (CFAR) policies
During COVID-19, scammers found they could sell travel insurance policies where one could “Cancel for Any Reason” at no extra charge. Buyers later discover that cancellation for an array of COVID-19 concerns -- such as government prohibitions, travel advisories or fear of travel – were not covered.
TIP: These types of policies ARE available from legitimate, licensed, reputable insurers – but may cost more than standard travel insurance policies.

Travel Scam #2 – Surveys
Have you seen those enticing vacation photos posted on social media channels? Eager tourists are lured via the promise of a free vacation if they’ll complete a survey, which may reveal personal information or open their computer to malicious software.
TIP: Major airlines and travel sites link directly to their social media handles from their respective web pages. Go directly to the company website or a customer service representative.

What more can you do?

Don’t let a call, letter or email alarm you.
Scammers look to unnerve you by creating a sense of urgency, which is designed to shortcut your inner scam detector. Slow your pace and ask questions. For emails and letters, think before clicking on anything or replying.

Verify sources before acting.
Double-check the caller’s details. Get off the phone and look up the organization from which the person purportedly called. Make your own call to the business or agency directly.

The best advice is to first, trust your instincts. If something doesn’t feel right, it probably isn’t.

Did you know the Knights of Columbus offer an annuity with a highly competitive current rate that is locked in for 5 years? The rates below are for March 2023.

Vantage Annuity
Minimum deposit of $25,000 (currently earning 4.1%) Minimum deposit of $100,000 (currently earning 4.3%) Initial interest rate is locked in for 5 years.

10% penalty free withdrawal each year.

Early withdrawal surrender charges apply.

The Vantage can accept both qualified (401k, IRA, Roth IRA, TSP, 457, 403b) and non-qualified money (money you have already paid taxes on).

This is a great way to lock in a high rate of return andguarantee your principle. Don’t let market uncertainty derail your retirement plans.

Contact me for more information or to set up a time to discuss in more detail.

This year we’re immersed in Lent for the entire month as we look forward to Easter on April 9. This is a time of renewal and preparation for Holy Week, Christ’s Passion, and his conquest over death in the Resurrection. May your focus be on generous giving and spreading peace to everyone you encounter. Spring...we’ve been through the toughest part of winter and we begin to think about Spring. And Spring is a time of rebirth and renewal: trees may begin to bud and flowers begin to poke through in search of warmer temperatures. The Spring equinox means that daylight lasts as long as night with the earth spinning toward that summer solstice. Maybe, just maybe, winter is behind us. While you’re getting rid of all the old cobwebs of winter and doing the annual spring cleaning, now is a great time to take a fresh look at your family’s financial security.

With a wide range of products—life insurance, long-term care insurance, disability income insurance and retirement annuities, I can help you look at your family’s financial situation now and for the years to come. All this while you deal with a company that shares your faith and beliefs and invests in accordance with Church social teaching.

As your Knights of Columbus Field Agent I’ve been trained to help you through that important process.

Sit down for a short meeting with me and we can use our newest and most advanced financial needs analysis platform that the Order has ever had. I’ll take the time to gather information from you, ask about your wants, needs and desires, and put together any recommendations to help you meet those..

As always you’re under no obligation. I’ll contact you soon to see if an appointment should be our next step.

More than 70 percent of Americans over the age of 65 will need long term care services at some point in their lives, according to a study by the U.S. Department of Health and Human Services. If that doesn't open your eyes, consider the following statistic: Anyone reaching the age of 65 has a 40% chance of entering a nursing home , with a 20% chance of stating there for at least 5 years. Employer-provided health insurance does not provided coverage for long term care. If you are thinking that medicare will absorb the related costs, you are wrong. Medicare only covers up to 100 days of long term care, but only of you are previously been in the hospital for three consecutive days prior to needing long term services. Additionally, only the first 20 days are covered in full; the remaining 80 days require a daily co-payment. The average cost of a semi-private room in a nursing home at $97, 090 a year or $266 per day. A private room is $303 per day or $110,595 per year.

Isn't it worth having a conversation about how the Knights of Columbus can help you either mitigate or eliminate the financial risk? If this is something you would like to discuss, please do not hesitate to call.