Woodmen of America - Life Insurance
are the basics about the nation's fifth largest fraternal
life insurance organization, Modern Woodmen.
Woodmen of America is a fraternal life insurance organization.
Woodmen was founded in 1883 in Lyons, Iowa.
Woodmen's current Home Office is in Rock Island, Ill.
product lines are life insurance and annuity products
designed for the family market.
Woodmen serves 750,000 members (certificateholders) nationwide.
are joined by three common bonds: family financial security,
positive family life and service to community.
1,800 agency representatives provide nationwide service.
insurance in force totals more than $26.6 billion.
assets are nearly $4.8 billion.
Woodmen ranks in the top 10 percent of all life insurers
in the United States based on assets and life insurance
from A.M. Best and Fitch independent rating services,
verify Modern Woodmen's financial strength and security.
2,000 local camps nationwide provide fellowship and community
750 youth service clubs nationwide teach community service,
citizenship, cooperation and respect for self and others.
numerous fraternal programs, benefits and activities,
nearly $16.7 million goes back into the lives of members
and their communities annually.
Woodmen's creed: "There is a destiny that makes us
brothers, none goes his way alone; all that we send into
the lives of others comes back into our own."
Modern Woodmen of America - Permanent Life
life insurance can be purchased in the form of whole life,
universal life and interest sensitive life insurance. All
provide a death benefit plus a cash value - a sum that usually
increases over the years on a tax-deferred basis. The cash
value of a certificate is available to the insured on the
certificate's maturity date or at any earlier time through
surrender, loan or withdrawal. (The withdrawal option is not
available on all plans.)
Permanent life insurance is most often used to pay for final
expenses, other debts or mortgage or to provide a monthly
income for a surviving spouse. Many people also use permanent
life insurance's cash value to supplement retirement income,
help pay for a child's college education or for emergency
Modern Woodmen offers these permanent life insurance products:
This flexible universal life insurance product accumulates
cash values at competitive interest rates. This product
can be tailored to meet your needs throughout your life
- simply adjust the premiums and death benefits as your
life situation changes.
Sensitive Life Insurance
This product provides a guaranteed death benefit until
age 65 or 15 years after purchase, after which the death
benefit may decrease. Premiums on interest sensitive life
insurance are very competitive.
Sensitive Whole Life Insurance
Certificateholders pay the same premium throughout their
life in return for a guaranteed level death benefit. This
product's strength is its cash value accumulation.
Premium Whole Life Insurance
Certificateholders make one premium payment at the time
of purchase in return for a guaranteed death benefit.
Whole Life Insurance
This guaranteed whole life insurance product places emphasis
on maximizing death benefit protection for the life insurance
premium dollar you pay. It also earns dividends and accumulates
cash value. Premiums remain level throughout the certificateholder's
Whole Life Insurance
In addition to death benefit protection, this guaranteed
whole life insurance product stresses cash accumulations.
The product earns dividends and builds a cash value. Premiums
remain level throughout the certificateholder's lifetime.
Modern Woodmen of America - Term Life Insurance
life insurance offers coverage for a fixed period of time.
Should the insured die during the specified period of time,
the term certificate provides payment for the face amount
of the certificate.
Premiums for term life insurance are based on your age - the
younger you are, the lower the premium. As you grow older,
the premium will increase. Term life insurance is particularly
popular with young families - as their financial situation
improves, they can convert term life insurance to permanent
life insurance without providing evidence of insurability.
from a number of plans:
Renewable Term to Age 95
Certificates or riders are renewable annually until age
95. You may choose between a level death benefit with
premiums increasing yearly or a level premium with a decreasing
Renewable Term for 10 Years
Certificates or riders are renewable annually for 10 years.
Premiums increase each year.
Certificates or riders are renewable annually for 15 years.
Premiums remain level.
Certificates are renewable annually until age 95. Various
premium options are available.
Certificates issued to children ages 0 to 15 for coverage
to age 16. The certificate holder can convert the insurance
to permanent or term life insurance for up to five times
the face amount.
Certificates issued to children age 0 to 19 for coverage
to age 25. At age 25 the insured can convert the term
life insurance to permanent life insurance for up to two
and a half times the face amount.
Certificates or riders issued for 15, 20, 25 or 30 years.
The death benefit decreases over the length of the term,
making it ideal for protecting a mortgage or another loan.
Modern Woodmen of America - Additional Services
additional services are also available to Modern Woodmen members:
This service eases the strain of making long-term financial
decisions at the stressful time of settlement. The account
is automatically established when proceeds from life insurance,
matured endowments or annuities equal $10,000 or more.
Two important features of this service include competitive
interest rates and check-writing capabilities.
An accelerated death benefit rider (on specified insurance
contracts) allows members diagnosed with a terminal illness
to receive 75 percent of their death benefit while they
are alive. (Specific eligibility requirements must be
P.O. Box 2005,