(a) A fraternal benefit society may provide for the payment of:
(1) death benefits in any form;
(2) endowment benefits;
(3) annuity benefits;
(4) benefits for temporary or permanent disability resulting from disease or accident;
(5) benefits for hospital, medical, or nursing expenses resulting from sickness, bodily infirmity, or accident;
(6) benefits for the erection of a monument or tombstone to the memory of a deceased member;
(7) funeral benefits; and
(8) any other benefit that may be provided by a life, accident, or health insurance company and that is:
(A) offered in compliance with a law described by Section 841.002 applicable to a life, accident, or health insurance company; and
(B) consistent with this chapter.
(b) A fraternal benefit society shall:
(1) specify in the fraternal benefit society’s laws or rules those persons to whom a benefit certificate may be issued or who may be covered by benefits; and
(2) make the provision of those benefits consistent with the provision of benefits to members and their beneficiaries.