Woodmenlife Releases 2018 Annual Report
Click to view report.
WoodmenLife’s 2018 financial performance included total income of $1.0 billion and a net gain before member dividends of $93.5 million, according to an annual report released March 9 by the organization. WoodmenLife continues to remain strong financially with $115 of assets for every $100 of liabilities.
Investment income exceeded $395 million, and life insurance in force stands at $38.7 billion. WoodmenLife’s premium income in 2018 surpassed $587 million. The organization provided $753.2 million in benefit payments to members and their beneficiaries and returned more than $38.5 million in member dividends.
President and CEO Patrick L. Dees said this continued financial growth has allowed the organization to give back even more to families and communities in 2018.
“We were able to help close to 500 families with our Natural Disaster Benefit distributing $297,972 in the wake of hurricanes Florence and Michael, and we awarded nearly 1,000 WoodmenLife Focus Forward Scholarships® ranging from $500 to $25,000, totaling $553,500,” said Dees. “Our members not only receive financial security through life insurance and other financial products, but also have access to extras they can use now.”
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