(1) A society licensed in this state may provide for the payment of:
(a) Death benefits in any form;
(b) Endowment benefits;
(c) Annuity benefits;
(d) Temporary or permanent disability benefits as a result of disease or accident;
(e) Hospital, medical or nursing benefits due to sickness or bodily infirmity or accident;
(f) Monument or tombstone benefits to the memory of deceased members not exceeding in any case the sum of $300.
(2) Such benefits may be provided on the lives of members or, upon application of a member, on the lives of the member's family, including the member, the member's spouse and minor children, in the same or separate certificates.
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