20-875
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20-875. Benefits A. A fraternal benefit 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. 7. Any other benefits that are authorized for life insurers and that are not prescribed by this article. B. A society shall specify by rule those persons who may be issued or covered by the contractual benefits prescribed by subsection A. The rules shall be consistent with providing benefits to members and dependents of members. On the application of an adult member, a society may provide benefits on the lives of children who are under the minimum age for adult membership. C. Any benefit or combination of benefits authorized by this section may be provided in the same certificate, and the certificates may be participating. |