Woodmen of the World Insurance

Woodmen of the World Insurance Company is a fraternal benefit company with more than a century of commitment to providing excellent insurance products and to improving the quality of life for the communities in which they do business. It is headquartered in Omaha, Nebraska. Their company is formed to benefit their members and is founded in 1890 by Joseph Cullen Root who was a member of various fraternal societies like Freemasons, had founded Modern Woodmen of America in Lyons, Iowa in 1883. The company has 750,000 members across the United States and operates a large privately held insurance company for its members. This company is licensed as Woodmen of the World Life Insurance Society in all states and the District of Columbia, except in California, Colorado, Idaho, Montana, Nevada, Oregon, Utah, Washington, and Wyoming, where it is licensed as Omaha Woodmen Life Insurance Society.

What Woodmen of the World Insurance Offer?

Woodmen of the World Insurance provide its members with traditional life insurance, as well as annuities for both individuals and small businesses. The company offers insurance security with member benefits. Their products selection includes whole life, flexible premium life and term life insurance, cancer insurance, long term insurance, annuities and hospital supplement insurance. They also offer mutual funds and 529 college savings accounts through its Woodmen Financial Services subsidiary. This organization is built on a foundation of community service and volunteerism all made possible by members who purchase their insurance related products from the company.

TYPES OF LIFE INSURANCE

Term Life Insurance is the cheapest type of life insurance available. It provides security for a specific period of time and accumulates little or no cash value. Whole Life Insurance is a traditional type of life insurance. It offers permanent insurance coverage for life and guaranteed cash values in exchange for certificate premiums that will not rise. Universal Life Insurance gives more elasticity that whole life insurance. When the needs change, both the amount of insurance and the amount of premium may be adjusted. The death benefit extremely relies on the cash value. Family Term Life Insurance, it is a special product that provides members the ability to cover their entire family up to two adults and all eligible children, with one life insurance certificate, at a cost that is affordable.