West Virginia Code 33-23-17 – Kinds of benefits authorized
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(1) A society licensed in this state may provide for the payment of:
Terms Used In West Virginia Code 33-23-17
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(a) Death benefits in any form;
(b) Endowment benefits;
(c) Annuity benefits;
(d) Temporary or permanent disability benefits as a result of disease or accident;
(e) Hospital, medical or nursing benefits due to sickness or bodily infirmity or accident;
(f) Monument or tombstone benefits to the memory of deceased members not exceeding in any case the sum of $300.
(2) Such benefits may be provided on the lives of members or, upon application of a member, on the lives of the member's family, including the member, the member's spouse and minor children, in the same or separate certificates.