§ 58-24-75. Benefits.

125 words·~1 min read·/nc/chapter-58/58-24-75

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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.)