“After 130 years, Modern Woodmen is still strong and secure,” said local Modern Woodsmen representative Jonathan Marsh. “The 2012 financial results show that the organization is flourishing, which is a benefit to Modern Woodmen members in Mississippi.”
Highlights of the year included a 12 percent growth in life insurance. Also during 2012, the fraternal financial organization's assets exceeded $12 billion and membership increased to more than 773,000.
Throughout the year Modern Woodmen’s fraternal expenditures contributed $28.9 million to support programs in member communities nationwide.
One of the most important developments of the year was the 12 percent increase in new life insurance issued, for a total of $3.4 billion.
“We believe life insurance is the key to protecting members’ financial futures,” said Marsh. “Modern Woodmen’s Planning for Life system gives us the tools to help members plan for all stages of life and evaluate their own unique financial needs.”
Life insurance in force — the total amount of life insurance owned by members to protect their families in case of premature death — increased to $35.5 billion.
Over 2012 the organization’s assets increased by 7.6 percent, reaching nearly $12.4 billion. Assets are primarily invested in high-quality, low-risk corporate and government bonds.
“Modern Woodmen has always been conservative in its investment practices,” Marsh pointed out. “This serves the organization well and protects members in all economic climates.”
The fraternal expenditures supporting Modern Woodmen’s family-oriented member benefits and programs grew to $28.9 million in 2012. These benefits include disaster relief assistance, college scholarships, social and volunteer programs by adult chapters and youth service clubs nationwide and educational programs for schools and youth groups.
(Local Modern Woodmen representative Jonathan Marsh has an office at 710 Cruise Street in Corinth. For more information contact Marsh at 662-665-7904.)