Benefits

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  1. A society may provide the following contractual benefits in any form:
    1. Death benefits;
    2. Endowment benefits;
    3. Annuity benefits;
    4. Temporary or permanent disability benefits;
    5. Hospital, medical or nursing benefits;
    6. Monument or tombstone benefits to the memory of deceased members; and
    7. Such other benefits as authorized for life insurers and that are not inconsistent with this chapter.
  2. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection (a), consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.


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