Western Fraternal Life Association

“The organization merged with another 501(c)(8) effective January 1, 2021. As part of this merger, the company switched from a delegate system to a board of directors system. New bylaws and articles of incorporation were also enacted.”

“BetterLife is a fraternal benefit insurance society and is therefore owned by its policyholder members.”

“BetterLife members elect eight directors for four-year terms.”

“Nancy Nelson Heykes PO Box 6, Hazelhurst, WI 54531; Thomas R Johnson 2800 Marledge St, Madison, WI 53711; John T McHugh Jr. 5702 State Hwy 71, Sparta, WI 54656; Maureen O'Hern Hahn 4 Meadowbrook Lane, Appleton, WI 54914; Brenda L Stone 1608 Henry Johns Blvd No. 8, Bangor, MI 54614; Duane J Jirik 1006 3rd St NE, New Prague, MN 56071; Michael S Hosek 5747 Harding Dr, Lincoln, NE 68521; Mary K Bradley PO Box 432, Frankfort, MI 49635; Steven G Reindl 910 Betty Lee Ct, Sun Prairie, WI 53590; Jared M Bruley 721 Hunters Trail, Sun Prairie, WI 53590; Ellie H Roekle 4961 Highwood Circle, Middleton, WI 53562; Jack H Minder Jr. 3858 Knollcrest NE, Cedar Rapids, IA 52402; Ann B Freeman 1710 Pioneer St SE, Cedar Rapids, IA 52403; Anne D Rogers 1601 Wendy Lane, Madison, WI 53716.”

“The accounting department completed the Form 990 and gave a copy to the SVP-Finance/Treasurer to review. Following the SVP-Finance/Treasurer review, the President/Chief Investment Officer and CEO/Board Chair were given copies to review. The completed 990 was then emailed to the eight independent directors for their review.”

“Conflict of interest questionnaires are required from all officers, directors and key employees annually stating any conflict they may have. If there are any stated, the governing body determines any needed action.”

“A board-appointed compensation committee annually reviews the compensation of the CEO along with the other officers of the organization. Outside salary surveys of similar fraternal benefit societies, data concerning similar positions in the area, the performance and financial status of the society, general cost of living/inflation increases, and general economic conditions are taken into consideration. The recommendations of the compensation committee are then considered by the full board of directors and are either approved or modified. Information regarding the positions to which this process applies and the latest review periods follow: CEO/Board Chair - 1/2021, President/Chief Investment Officer - 1/2021, SVP-Finance/Treasurer (retired 6/2021) - 6/2020, SVP-Merger Integration/SVP-Finance and Treasurer - 1/2021, SVP-Member Acquisition - 3/2021, VP-Member Services - 1/2021, VP-Human Resources - 7/2021, SVP-Member Experience - 11/2021, VP-Direct to Consumer - 7/2021, SVP-IT/Secretary - 1/2021.”

“The governing documents are filed with our state of domicile (Wisconsin) when any changes are made, published periodically in our official publication, BetterLife magazine, and available upon request. The financial statements are published annually in BetterLife magazine and are filed quarterly with the NAIC and with the states that require them. The conflict of interest policy is available upon request.”

“Amount of $35,957,903 is total of net assets of another 501(C) (8) fraternal benefit society the organization merged with. National Mutual Benefit, a fraternal benefit society domiciled in Wisconsin, merged with Western Fraternal Life Association (WFLA), domiciled in Iowa, effective January 1, 2021. WFL then redomiciled to Wisconsin and changed its name to BetterLife. The 990 reporting for 2021 reflects the combination of the two organizations.”