(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 health care benefits; (5) hospital, medical, or nursing benefits; (6) monument or tombstone benefits to the memory of deceased members; and (7) other benefits authorized for life and health insurers […]
(a) The owner of a benefit contract shall have the right at all times to change the beneficiary or beneficiaries in accordance with the laws or rules of the society unless the owner waives this right by specifically requesting in writing that the beneficiary designation be irrevocable. A society, by laws or rules, may limit […]
Money or other benefit, charity, relief, or aid to be paid, provided, or rendered by a society is not liable to attachment, garnishment, or other process, or to be seized, taken, appropriated, or applied by a legal or equitable process or operation of law to pay a debt or liability of a member or beneficiary, […]
(a) A society authorized to do business in this state shall issue to each owner of a benefit contract a certificate specifying the amount of benefits provided under the contract. The certificate, together with any riders or endorsements attached to it, the laws of the society, the application for membership, the application for insurance, and […]
(a) For certificates issued before one year after the January 1, 1998, the value of a paid-up nonforfeiture benefit and the amount of a cash surrender value, loan, or other option granted shall comply with the provisions of law applicable on December 31, 1997. (b) For certificates issued on or after January 1, 1999 for […]
