Womans Life Insurance Society

“The bylaws were amended during the year to extend the maximum age directors may attain and remain eligible for tenure.”

“Benefit members are voting members who are not less than 15 years of age and have purchased a life insurance or annuity product from the society. They are entitled to all rights and privileges of the society.”

“Each benefit member of the society is entitled to one vote in the election of the board of directors.”

“The 990 is completed by a professional accounting firm and is reviewed by various leaders for completeness and accuracy prior to filing.”

“Executive management, the society's officers and board of directors complete a conflict of interest statement on an annual basis. All completed statements are presented and reviewed at the society's january board meeting. Any potential conflict is discussed and resolved at the board level.”

“A copy of the society's laws and articles of incorporation is provided to all benefit members upon the purchase of a life insurance or annuity product. Financial statements are included in the society's quarterly membership magazine. The annual report magazine is mailed to all members in june of each year. Conflict of interest statements, the laws and articles of incorporation, financial statements, and the 990 form are always available upon request.”

“Woman's life entered into a merger with trusted fraternal life as a solution to provide greater value to its membership. A major consideration of the merger was the ability to join a larger financially strong organization providing increased financial security to the organization. Additionally, the merger will provide a new state-of-the-art policy administration system allowing access to improved and sophisticated products and services. The merger also allows for greater development of woman's life brand awareness as the woman's life brand will continue with a commitment to the woman's life mission of helping women and their families prepare for a secure financial future. Lastly, the merger will result in enhanced scale in operations providing improved profitability which may result in increased dividends to woman's life members. Woman's life will continue to be operated as a trusted fraternal life brand, and their financial activities and form 990 reporting will be incorporated into those of trusted fraternal life.”

“Net asset adjustment due to merger -14,176,170. Change in pension liability 3,172,091. Change in nonadmitted assets 274,207. Change in asset valuation reserve 47,654. Cumulative foreign exchange (gain)/loss -13,720.”