§ 27-25-16 - Benefits.
SECTION 27-25-16
§ 27-25-16 Benefits. – (a) 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 deceasedmembers; and
(7) Any other benefits authorized for life insurers and whichare not inconsistent with this chapter.
(b) A society shall specify in its rules those persons whomay be issued, or covered by, the contractual benefits in subsection (a) ofthis section, consistent with providing benefits to members and theirdependents. A society may provide benefits on the lives of children under theminimum age for adult membership upon application of an adult person.