Texas § IN.885.301 - TYPES OF BENEFITS PERMITTED

§ IN.885.301. TYPES OF BENEFITS PERMITTED

TYPES OF BENEFITS PERMITTED. (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. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 2E.091, eff. April 1, 2009.