§58-24-75. 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 deceased members; and

(7)        Such other benefits as authorized for life insurers and which are not inconsistent with this Article.

(b)        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.

(1987, c. 483, s. 2.)