§432:2-401 - Benefits. - Hawaii Statutes

PART IV.  CONTRACTUAL BENEFITS

 

     §432:2-401  Benefits.  (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. [L 1987, c 347, pt of §2]