Modern Woodmen of America, established in 1883, stands as a member-owned fraternal financial services organization with a rich history of providing financial security and community support.
This reputable institution offers a diverse range of financial products and services, including life insurance, retirement planning, and investment solutions, all designed to empower and safeguard its members financial well-being.
However, what sets
Modern Woodmen of America apart is not just its financial offerings but also its unwavering commitment to community engagement. The organization actively promotes social responsibility and community involvement, encouraging its members to participate in charitable activities and volunteer work.
This collective spirit of giving back fosters a profound sense of belonging and solidarity among its members, making Modern Woodmen a unique and socially responsible financial institution.
What we are
Established in 1883, Modern Woodmen of America is a fraternal financial organization owned by its members, dedicated to enhancing lives and ensuring futures.
Modern Woodmen financial strength
Robust Asset Base:
- Modern Woodmen’s assets amounted to $17.14 billion at the close of 2022.
- These assets serve as a strong foundation, backing all the funds entrusted by members.
- Notably, in year-end 2021, Modern Woodmen’s assets and liabilities experienced a reduction due to a singular reinsurance transaction
Prudent Investment Philosophy:
- Modern Woodmen prioritizes safeguarding members’ principal.
- Resilience to market fluctuations, economic downturns, and inflation is a fundamental objective.
- Investments are guided by principles of high quality, diversification, and competitive returns.
High Industry Ratings:
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- A.M. Best rates Modern Woodmen’s financial strength as A (Excellent) and issuer credit rating as a+ (Excellent).
- KBRA assigns an insurance financial strength rating of AA-.
Surplus and Reserves:
-
- Modern Woodmen’s total surplus was $2.42 billion at the end of 2022.
- Total reserves for life insurance, annuities, and certificates amount to $10.6 billion.
- Solvency ratio is a robust 116.41%.
Regulatory Compliance:
-
- Modern Woodmen complies with state insurance department regulations to safeguard consumers.
- These regulations ensure appropriate reserves and investment risk management for member protection.
Modern Woodmen Company Offerings and Solutions
Life insurance
Modern Woodmen prioritizes life insurance as the cornerstone of financial planning. We provide affordable life insurance options, including term life coverage, specialized plans for children and young adults, and permanent life insurance solutions that address enduring needs without lasting premium commitments.
Annuities
Modern Woodmen of America is here to support you, whether you’re in the early stages of retirement savings, nearing retirement, or already enjoying your retirement. We offer guidance to evaluate your objectives and initiate your journey toward a secure and enjoyable retirement.
Investments
Planning in advance enhances the probability of meeting crucial financial objectives. Your investment strategy should align with your specific financial goals.
MWA Financial Services Inc., a Modern Woodmen of America subsidiary, offers a diverse range of investment products. These investments might be suitable for individuals seeking higher potential long-term returns and are open to accepting increased risks.
Our financial representatives possess the expertise and tools to assist you in crafting a strategy tailored to your risk tolerance and objectives.
At Modern Woodmen, we’ve partnered with other companies to provide you access to a wide array of additional products and services.
Our Offerings Include:
- Individual Health Insurance
- Group/Employer Benefits
- Impaired-Risk Life Insurance
- Medicare Products
- Long-Term Care Insurance
- Disability Insurance
Modern Woodmen Company position availability
- Modern Woodmen is a leading employer in the Quad Cities region known for its excellent work environment.
- Our facilities are modern, spacious, and offer breathtaking views of the Mississippi River and downtown areas.
- Employment opportunities span various departments, including Information Systems, Customer Service, Financial Services, and more.
- The sense of community among employees is a standout feature, with colleagues often becoming like family.
- Home office staff enjoys competitive salaries, medical and dental plans, pension benefits, 401(k) with an employer match, life insurance, educational incentives, and various leave options.
- Modern Woodmen offers an 11-week paid Summer Internship Program for college students, providing real-world work experience and mentorship.
- The internship opportunities cover areas like Financial Services, Marketing, Information Technology, and more.
- The company is committed to diversity and inclusion, fostering a culture of respect and equal opportunity for all employees.
- Explore our Current Openings for available positions and become part of a welcoming and supportive work environment.
Modern Woodmen Company Fraternal member programs
Birthday Book Club
At Modern Woodmen, eligible children can enjoy a special birthday treat. Every year until they reach the age of 16, they’ll receive a carefully selected book in the mail. These books are of the highest quality and cater to their specific age group, offering a diverse range of classic stories, modern fiction, and educational materials.
Discount Programs
Do-Good Grant
For our members who want to make a positive impact, the Do-Good Grant® is here to help. With this program, you can apply for $200 in seed money to organize a small volunteer project, involving your family and friends.
Modern Woodmen is proud to offer up to 250 grants annually, on a first-come, first-served basis.
Fraternal Aid Fund
In times of unexpected financial hardship caused by disasters like fires, floods, storms, or severe health issues, our members can turn to the Fraternal Aid Fund.
This program allows members to apply for financial assistance, temporarily covering their Modern Woodmen life insurance premiums.
Final Wishes Resources
Ensure your end-of-life wishes are understood and respected with our Final Wishes Resources. These valuable guides assist members in planning, organizing, and initiating crucial conversations regarding late-in-life and end-of-life preferences.
Modern Woodmen Travels
Exclusive travel opportunities await select groups of Modern Woodmen members. Join us on exciting trips to diverse destinations, meticulously organized and hosted by Modern Woodmen.
Benefit from discounted rates, access to exclusive events, and engage in unique community impact experiences rooted in local cultures.
Modern Woodmen Frequently Asked Questions
 I have already filed my tax return(s) and have now received form 1099. How do I proceed?Â
We recommend consulting your tax advisor, as you may need to amend your tax return.
 I have already filed my tax return(s). Why am I receiving form 5498 now?
Form 5498 serves informational purposes and should not be filed with your tax return. The IRS regulations require us to mail these forms by May 31st of the following year.
I received form 5498, but my contributions are incorrect. Who do I contact?
For assistance with correcting contributions on form 5498, please reach out to Modern Woodmen’s Service Center at 309-558-3077 or 800-447-9811, Monday through Friday, from 8 a.m. to 4:30 p.m. (Central).
Why do the contributions shown on form 5498 differ from my annual or quarterly statement(s)?
Form 5498 encompasses all regular and Roth IRA contributions for the previous tax year and all regular and Roth IRA contributions made through April 15th that have been attributed to the previous tax year (if designated as such).
 Is income received from life insurance death proceeds taxable, and if so, why?Â
Generally, death proceeds received from life insurance plans are not taxable. However, the interest paid on the death proceeds from the date of the insured’s death to the date of payment to the beneficiary is subject to taxation.
How is the gain calculated for my life insurance certificate (policy)?
The taxable gain is determined by subtracting the cost basis from the value of the contract. The cost basis is calculated as the net premiums paid into the certificate, adjusted for any dividends released or withdrawals made from the certificate.
Modern Woodmen Company Premium Payment Options
- Pay Online:
Information Required:
Bank account holder’s name.
Daytime telephone number.
Your bank’s nine-digit routing number.
Checking or savings account number.
Process:
Complete the transaction securely on our member website.
A debit to collect the payment will be issued to your account within three business days.
Benefits:
Free, secure, and convenient with 24-hour access.
Contact: Call our Service Center at 800-447-9811, Monday through Friday, 8 a.m. to 4:30 p.m. (Central) for inquiries.
- Â Monthly Automatic Bank Check Plan (ABC Plan):
Process:
Deducts your premium automatically each month from a checking or savings account.
Sign-Up:
Print, complete, and return the authorization form provided in the PDF.
To discontinue the ABC plan, contact your Modern Woodmen representative or the Service Center.
Benefits:
Saves time, money, and postage.
- Â Payment by Phone:
Process:
Call 800-447-9811 or 309-558-3077 to make premium, loan, and additional payments 24/7.
Information Required:
Bank account holder’s name.
Daytime telephone number.
Bank routing number.
Checking or savings account number.
Benefits:
Free, easy, and secure payment option.
- Payment by Mail:
Payment Notice:
Certificates on a quarterly, semiannual, or annual mode will receive a premium due notice two weeks before the due date.
Pre-addressed return envelope included for your convenience.
Payment Method:
Payment should be made by personal check or money order.
Modern Woodmen Company printable financial forms
- Authorization to Release Information Form:
- Allows Modern Woodmen to share information about designated certificates with authorized parties (without transaction privileges).
- Automatic Bank Check Plan (ABC) Authorization:
- Convenient and secure payment method.
- Set up automatic premium or loan repayment deductions from a checking or savings account on a monthly basis.
- Absolute Assignment Form:
- Transfer all ownership rights of an insurance or nonqualified annuity certificate to another individual or entity.
- Requires signing, dating, notarization, and submission to Modern Woodmen headquarters.
- Applicant Change Form:
- For certificates where the insured was 15 or younger at issuance, allows changing the current applicant to another individual (insured must be under 21).
- Beneficiary and/or Name Change Form:
- Change beneficiary or name on a certificate (life or annuity).
- Fillable format, requires printing, signing, and mailing to headquarters.
- Collateral Assignment Form:
- Transfer specific ownership rights of an insurance or annuity certificate to a creditor as debt security.
- Requires signing, dating, notarization, and submission to headquarters.
- Fraternal Aid Fund Application – Natural Disaster:
- Offers financial relief from premium payments for members facing health issues or property damage due to natural disasters.
- Fraternal Aid Fund Application – Illness/Injury:
- Provides financial relief for members experiencing significant financial setbacks due to health issues.
- Fraternal Aid Fund Extension Application:
- Allows members to reapply for Fraternal Aid Fund benefit within five years.
- Requires supporting documents to demonstrate financial hardship.
- National Parks Pass Reimbursement Form:
- Request $5 reimbursement for fees related to the America the Beautiful Parks and Federal Recreational Lands Lifetime Senior Pass or Annual Senior Pass (age 62+).
- Release of Control to the Insured on a Junior Certificate:
- Transfer control to the insured when the applicant was under 16 at the certificate’s issuance (now 16 years or older).
Modern Woodmen contact information
| Information | Details |
|---|---|
| Phone Number | 800-447-9811 |
| Address | Modern Woodmen of America |
| 1701 1st Ave, Rock Island, IL 61201 | |
| Customer Service | 309-558-3077 |
| 800-447-9811 | |
| Policy Details | Policy details can be accessed |
| through the secure member website | |
| Email Address | Not specified |
| Fax Number | 309-786-6113 |
| Operating Hours | Monday through Friday |
| 8:00 a.m. to 4:30 p.m. (Central) |
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