Refunds

Refunds paid to members holding life and accident and health certificates during 2014 are expected to be approximately $66.5 million, Woodmen of the World's Board of Directors recently announced.

The Board also announced that beginning Jan. 1, 2014, Woodmen of the World will pay 3.85 percent interest on refunds left on deposit with the organization.

The maximum interest rates used to calculate refunds on Adjustable Life unloaned cash values will range from 4.00 percent to 4.40 percent, depending on the certificate year, issue age, sex, face amount, and other classifications. The maximum interest rates used to calculate refunds on Flexible Life unloaned cash values will range from 4.00 percent to 4.70 percent, depending on the certificate year, issue age, sex, face amount, and other classifications.

The interest rate applied to monies received as advanced premium will be 3.85 percent on fixed premium life insurance plans and 4.00 percent on new flexible premium life insurance plans.

Woodmen of the World's Executive Committee, taking into account investment market yields, will set annuity rates monthly.

Current interest rates for No Lapse Guarantee Universal Life and Accumulation Universal Life will be set quarterly by the Executive Committee.