Woodmen of the World Life Insurance Society, known more commonly as WoodmenLife, is a not-for-profit society that provides insurance benefits for its members. Founded in 1890, the company strives to put Omaha and its people first by protecting their financial futures. They were recently recognized on Forbes “Best Insurance Companies of 2023” list.

As a not-for-profit, all income from their services goes directly back into the running of the business and never end up in CEO’s pockets. As they put it, they are “the first to jump in and help when your family or your town is in need.”

Woodmen provides life insurance in many different plan styles:

Whole Life, which is permanent insurance plan set at a steady rate over a period of decades, to be paid out in either ten (10) or twenty (20) years, at age sixty-five (65), or at age one hundred (100). These plans pay at a set premium, which will never increase no matter the age or health of the plan owner.  When the plan owner passes, the insurance is paid out tax-free. It also has the potential to gain cash value that you can borrow against tax-free.

Universal Life, a permanent insurance plan similar to the Whole Life option, with the potential to adjust your premium amounts. It can either be Indexed, which allows you to build the cash value of the insurance, or No-Lapse Guarantee, which gives you guaranteed coverage up to the age of one-hundred and twenty-one (121).

Term Life, a short-term insurance for a set period of time anywhere from ten (10) to thirty (30) years, with the option of converting it to a more permanent type at any point. The premiums are lower with this style of insurance than with others. 

Family Term, a short-term insurance which covers two (2) adults and any children they have. This plan will run for ten (10) to twenty (20) years, with adults being covered through that period and children being covered to the age of twenty-five (25) with the option to get their own insurance at that time. The premiums will never increase, and you can also add any children to the plan without extra costs.

All plans have the option to add an accelerated death benefit rider without any extra cost, where you can receive a portion of your life insurance benefits while still living if you are diagnosed with a terminal condition.

Woodman also offers retirement annuities, which are insurance contracts that grow your savings and make sure you have a continued income when you retire, as well as Individual Retirement Accounts (IRAs) and investment help. Woodmen provides its members with access to discounts at local businesses; scholarship options for high school students; and applications that can ease up to $1,000 in student loans or to be part of the Family Legacy program, which will give $1,000 monthly to your children if they become orphaned. They are also able to provide financial assistance for natural disaster relief.

Woodmen, as part of their commitment to their community, has been fighting hunger since 2015 by running food drives, donating to local food banks, serving community kitchens, holding cookout fundraisers, and organizing food backpack stuffing events for schools. In Nebraska alone, they have collected 16,000lbs of food and $227,000 in donations.

If you would like to find out more about WoodmenLife, you can go to their website at woodmenlife.org. You can also check out their Facebook at WoodmenLife, or their Twitter @WoodmenLife.