WoodmenLife life insurance

Overview

WoodmenLife is the brand of Woodmen of the World Life Insurance Society, a not-for-profit fraternal benefit society based in Omaha, Nebraska. It ranked #72 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with $273.3 million in premiums and a 0.17% market share.

As a fraternal, WoodmenLife has no stockholders. It is run for its members, and anyone who buys one of its products becomes a member, with access to local chapters, volunteer projects, scholarships and discount programs. It reported $11.3 billion in assets, $39.4 billion of life insurance in force and nearly $1.9 billion of surplus at the end of 2025. Its life policies are formally called certificates, and they are sold only through WoodmenLife's own sales representatives working out of area offices (captive agent).

WoodmenLife is known for term, whole life and final expense coverage aimed at middle-income families, and for community programs: it has presented more than 4 million American flags since 1947 and runs a national effort against hunger. Denise M. McCauley is chair, president and CEO.

WoodmenLife is a separate organization from Modern Woodmen of America of America, the Rock Island, Illinois, fraternal that Joseph Cullen Root founded before he started Woodmen of the World.

History

Joseph Cullen Root founded Woodmen of the World in a hotel room in downtown Omaha on June 6, 1890, with the aim of making life insurance available to everyone. The society paid its first death claim in 1891 and had more than 88,000 members by 1898 and more than 750,000 by 1915. It paid its first cash refunds to members in 1921, and in 1923 it launched the Omaha radio station WOAW.

The society crossed $1 billion of insurance in force in 1966 and dedicated its 30-story WoodmenLife Tower in Omaha in 1969. It introduced its Adjustable Life product in 1983. Over its history it has merged with five other fraternal benefit societies; the last was The Neighbors of Woodcraft, in July 2001.

WoodmenLife formed Woodmen Financial Services, a broker-dealer subsidiary, in 2002 to offer mutual funds, variable annuities and college savings plans, and Woodmen Insurance Agency in 2004 to sell other companies' disability, health and property-casualty coverage. In 2015 Woodmen of the World adopted the WoodmenLife brand. It added My Choice Indexed Universal Life, with a 0% floor, in 2020. There have been no mergers, sales or ownership changes since 2001.

Life insurance products

• Term life has initial level-premium terms of 10, 15, 20 or 30 years. After the initial term, premiums rise every year until age 95. Before the initial term ends, and up to age 72, you can convert to whole or universal life without a medical exam (conversion privilege). Term does not build cash value.
• Family Term covers two adults and all children under one policy for 10 or 20 years. The adults can choose up to $500,000 of coverage combined, and each child has $10,000 of coverage until age 25, including children born or adopted later at no added cost. If one adult dies, coverage continues on the survivor and children with no further premiums.
• Whole life comes in four payment schedules: paid-up at 100, paid-up at 65, 10-pay and 20-pay (limited-pay whole life: 10-pay, 20-pay and paid-up at 65). Premiums never increase, coverage lasts to age 121 once paid up, and the policy builds cash value you can borrow against. WoodmenLife markets the short-pay versions for insuring children.
• Universal life includes My Choice Indexed universal life (IUL) explained, which credits interest partly based on a market index with a 0% floor, and a no-lapse guarantee universal life policy that guarantees coverage up to age 121 with little cash value (guaranteed universal life: permanent coverage without the cash).
• Final expense whole life offers up to $20,000 of coverage for ages 50 to 85 with health questions and no medical exam. A level plan pays the full benefit right away; a graded plan, for people who do not qualify for the level plan, pays the full benefit after the first two policy years (graded benefit, final expense insurance: what it covers and costs).

Whole life comes with either an accelerated death benefit for terminal illness or a chronic and terminal illness accelerated benefit at no extra cost. Optional riders include accidental death, disability waiver of premium, applicant waiver of premium (pays a child's premiums if the parent-owner becomes disabled) and guaranteed insurability.

Other products

WoodmenLife issues deferred fixed annuities and a variable annuity, available as IRAs and non-qualified contracts, and its own Medicare Supplement certificates. Through Woodmen Financial Services it offers mutual funds and 529 college savings plans, and through Woodmen Insurance Agency it sells partner companies' disability income, critical illness, long-term care, dental and accident coverage.

Buying and service

You buy through a WoodmenLife representative; the online "Get a Quote" form connects you with a local representative rather than issuing a policy. Final expense applications take about 10 minutes with a representative. Members can manage certificates through an online account. Customer Service is at 800-225-3108, Monday through Thursday 7 a.m. to 5 p.m. Central and Friday 7 a.m. to noon. Representatives sell only WoodmenLife products and its partners' products, so price comparison with other insurers is up to you.

Membership extras include LawAssure online will and legal templates, scholarships (more than $3 million awarded since 2017), the Life's Perks discount program and a natural disaster benefit; WoodmenLife says these extras are not contractual and can change.

Claims

Beneficiaries can start a life insurance or annuity claim online on WoodmenLife's claims page, contact their representative or call 800-225-3108. WoodmenLife pays proceeds according to its policy records, and if it needs more information it contacts the beneficiary on record within 10 business days. Accidental death claims have a separate line, 800-401-8691, and Medicare Supplement claims are handled at 800-894-1317. Expect to provide a certified death certificate and a claimant statement; see how to file a life insurance claim.

Ratings and reputation

AM Best rated WoodmenLife A+ (Superior), its second-highest rating, effective February 20, 2026; WoodmenLife says 2026 was the 50th consecutive year it received A+. WoodmenLife does not publish ratings from S&P, Moody's or Fitch.

In 2025 WoodmenLife reported total income of about $1 billion and $16.8 million of refunds to members, and said 99% of its bonds were investment grade and about 21% of its assets were commercial mortgage loans at year-end 2025.

WoodmenLife was not among the brands ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study. It holds an A+ rating from the Better Business Bureau and received the BBB's International Torch Award for Ethics in 2025.

Who it suits

WoodmenLife suits families who want a straightforward term, whole life or final expense policy from a local representative, and who value the fraternal side: chapters, volunteering, scholarships and member benefits. Family Term is an unusual low-cost way to cover two parents and all children on one policy. It is a weaker fit for buyers who want to apply online, compare many insurers through an independent agent, or see ratings from more than one agency.

• Strengths: A+ (Superior) from AM Best (February 2026) for 50 straight years; Family Term covering a whole household; no-exam final expense up to $20,000; not-for-profit fraternal with member refunds and community programs.
• Weaknesses: Sold only through WoodmenLife representatives, with no online purchase; only AM Best publishes a rating; term premiums rise each year after the initial term; customer service closes at noon on Fridays.

How to contact WoodmenLife