(a) A society authorized to do business in this state may provide for the payment of: (1) Death benefits in any form; (2) Endowment benefits; (3) Annuity benefits; (4) Temporary or permanent disability benefits as a result of disease or accident; (5) Hospital, medical, or nursing benefits due to sickness or bodily infirmity or accident; and (6) Monument or tombstone benefits to the memory of deceased members not exceeding in any case the sum of $300.00. (b) Such benefits may be provided on the lives of members or, upon application of a member, on the lives of a member’s family, including the member, the member’s spouse, and minor children, in the same or separate certificates.
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