378.616 Benefits authorized — rules to specify allowable beneficiaries.

378.616. Benefits authorized — rules to specify allowable beneficiaries. — 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; and (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 chapter. 2. A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits in subsection 1 of this section, 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. (L. 1992 S.B. 831) Effective 1-01-93