Modern Woodmen of America life insurance

Overview

Modern Woodmen of America is a fraternal benefit society, a nonprofit, member-owned organization that sells life insurance and annuities to its members and uses part of its earnings for fraternal and community programs. Based in Rock Island, Illinois, it has nearly 700,000 members and no stockholders, and says it is the third-largest fraternal benefit society in the U.S. by assets.

Modern Woodmen ranked #70 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with $284.8 million in premiums and a 0.18% share. At year-end 2025 it reported $46.04 billion of life insurance in force, $18.64 billion in assets, $2.87 billion of surplus and $1.01 billion of life and annuity premium income. It paid $1.51 billion in death benefits, annuity payments and surrenders that year and spent $22.6 million on fraternal programs and community support.

Modern Woodmen sells through its own financial representatives, nearly 1,000 of them in 47 states. Buying a Modern Woodmen product makes you a member.

History

Joseph Cullen Root founded Modern Woodmen of America on January 5, 1883, in Lyons, Iowa. He chose the image of pioneer woodmen clearing forests to build homes to symbolize clearing away financial burdens for families. The society has no connection to woodworking. Fraternal benefit societies of the era formed mainly to help families after a breadwinner's death, and Modern Woodmen sold life coverage to members from the start.

The society moved across the Mississippi River to Fulton, Illinois, in 1884, and to Rock Island in 1897, where its home office remains. Root later founded a separate society in Omaha, now WoodmenLife; the two are independent organizations, often confused because of their similar names.

Modern Woodmen is governed by a National Convention of member-elected delegates that meets every four years; the 45th took place June 22-24, 2026, in Orlando. Members are organized into nearly 2,300 local chapters, plus Summit chapters for members 55 and older and youth service clubs. Jerald J. "Jerry" Lyphout, who joined in 1983, is president and CEO. On August 21, 2026, the board named National Secretary Shea Doyle as the next president and CEO, effective June 1, 2027, when Lyphout retires. In March 2024 the society added a fixed indexed annuity, the MyLinked Annuity, to its lineup.

Life insurance products

Modern Woodmen calls its policies certificates, as fraternals do. It publishes product names and features but not rates.

• Whole life: My Whole Life and MyLife Protector, offering lifelong coverage, level premiums and guaranteed cash value. Eligible certificates earn dividends, which are not guaranteed.
• Universal life: MaxCL II and MaxCL Pro II, with flexible premiums, an adjustable death benefit and cash accumulation at a guaranteed minimum interest rate. Some versions offer guarantees that keep the death benefit in force if enough premium is paid on time.
• Term life: MyLife Term and MyLife Foundation, with level premiums for 10, 15, 20 or 30 years. Term certificates can be converted in whole or part to permanent coverage without medical evidence. A return of premium rider refunds premiums if you outlive the term.
• Riders: optional riders for future care needs, plus a terminal illness accelerated benefit rider. Members who use it get relief on up to $5,000 of first-year lien interest through a member program.

The website also highlights plans for children and young adults. Its Newborn Life Insurance Benefit lets member parents obtain permanent coverage for a newborn regardless of health. For impaired-risk life insurance, long-term care, disability, Medicare and health coverage, Modern Woodmen's agency subsidiary MWAGIA Inc. brokers other companies' products.

Other products

Modern Woodmen issues fixed, fixed indexed, immediate and variable annuities. Through its broker-dealer, MWA Financial Services Inc., representatives offer mutual funds, brokerage accounts, retirement plans and college savings plans.

Buying and service

You buy through a local Modern Woodmen financial representative, found through the reps.modernwoodmen.org locator. There is no online application, and you see only Modern Woodmen's own life and annuity products plus brokered extras. That is the usual captive agent trade-off. Members can register on the member website to view certificates, pay premiums, update addresses and change beneficiaries, or call the Service Center at 800-447-9811 or 309-558-3077, Monday to Friday, 8 a.m. to 4:30 p.m. Central.

Membership brings fraternal programs that are not part of the insurance contract and can change. They include local chapter activities, scholarships (more than $550,000 to 300 high school seniors in 2026), $200 Do-Good Grants for volunteer projects, an Orphan Support Benefit, a Financial Relief Fund that can cover premiums for a limited time after severe hardship, Final Wishes planning guides, a birthday book club and member discounts.

Claims

Beneficiaries can start a death claim through the online form on the contact page or call the Service Center at 800-447-9811 or 309-558-3077. Documents can be uploaded online, faxed to 309-793-5547 or mailed to P.O. Box 2005, Rock Island, IL 61204-2005. The website's Beneficiary Support page has a claims FAQ, and the member's local representative can also help. Expect to provide a certified death certificate and the certificate number; see the claims guide.

Ratings and reputation

On December 5, 2025, Modern Woodmen announced that AM Best had affirmed its A (Excellent) financial strength rating and a+ issuer credit rating, both with stable outlooks. AM Best cited a strong balance sheet, a well-defined risk management program and a diversified product line across whole, term and universal life and fixed and variable annuities. Kroll Bond Rating Agency (KBRA) affirmed its AA- insurance financial strength rating with a stable outlook in September 2025. The society reports a solvency ratio of 118.2% at year-end 2025 and says about 98.7% of its bonds were of high or medium quality.

On July 1, 2026, Modern Woodmen raised dividends on about 133,000 eligible life certificates issued before 2022. That increased its projected dividend payout by $3.7 million, to $14.6 million for 2026.

Modern Woodmen was not ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study.

Who it suits

Modern Woodmen suits families who want a local representative, traditional whole, universal or term coverage, and community-based fraternal benefits. That includes parents who value the newborn coverage guarantee, scholarships and youth programs. It suits fewer people who want to compare quotes online, buy without an agent, or get indexed or variable universal life. It also suits fewer people who put the highest financial strength rating first, since its AM Best A is below higher-rated fraternals such as Thrivent and the Knights of Columbus.

• Strengths: member-owned since 1883 with $2.87 billion of surplus; A (Excellent) from AM Best (December 2025) and AA- from KBRA; dividend increase in July 2026; broad fraternal benefits including orphan support, scholarships and a hardship premium fund; conversion and return of premium options on term.
• Weaknesses: sold only through its own representatives, with no online quotes or published rates; AM Best rating below the highest-rated fraternals; no indexed or variable universal life; representatives in 47 states rather than all 50; CEO transition scheduled for June 2027.

How to contact Modern Woodmen of America