Modern Woodmen of America Insurance Company

Modern Woodmen of America Insurance Company
1701 1st Ave.
Rock Island, IL 61201

More than just financing, but service to the family and community. This, in a nutshell is the main mission of the Modern Woodmen of America Insurance Company. More than just ensuring that individuals have the resources they need in order to live life well, the focus of their business are geared towards three things: provide financial security, a positive family life, and service to the community.

As an institution that provides financial security, the Modern Woodmen of America Insurance Company believes that financial security and independence is needed in order to keep families together. As such, it offers life insurance, investment, annuity, and banking products for individuals in a family.

In order to obtain a positive and healthy family life, each individual in a family needs to develop socially and emotionally. The company has fraternal chapters and youth service club programs needed by individuals, especially the youth for good times, as well as fraternal benefits for needed times. By providing service to communities, it has also offered educational programs for the youth and volunteer service events done nationwide.

Based on assets, Modern Woodmen of America Insurance Company is considered to be the third-largest fraternal benefit society. As a fraternal benefit society, its members does not only experience financial freedom, but also the opportunity to help others by being able to have access to organizations that partake in social and volunteer programs and activities. It is also created around a lodge system, where a main organization has branches or other affiliates under its name. These organizations, termed as camps, are the ones which provide opportunities for volunteer and service work. The members of the company are part of more than 2,300 camps, and more than 700 youth clubs throughout the nation.

Its members are also encouraged to participate in national days of service such as Join Hands Day, as well as Make a Difference Day. The company also takes part in the Matching Fund Program, an initiative that matches money which are raised by individual camps for organizations or company members in need.

With its home office in Rock Island, Illinois, Modern Woodmen serves more than 755,000 members and has more than 1,500 agency representatives. Its main products are life insurance, annuity, and investments products which are designed to serve families in order to build healthy or sound communities.

With its financial stability, management performance and security, Modern Woodmen has been rated by A.M Best as Superior, which is deemed as the second highest out of 15 ratings.

A.M Best, an organization that provides a full-service credit rating to the financial services industries, based their recommendations on the said organization through a quantitative evaluation (which is a comprehensive one) of the strength of its balance sheet, operating performance. This agency looks at several aspects including its business profile. According to this rating organization, insurance companies with a Superior rating have a leading capacity to meet their current obligation and responsibilities to its members.

Modern Woodmen also follows conservative investment strategy, where its utmost concern is the preservation of capital and minimization of risk. To this day, it holds more than 80% of its portfolio in government and corporate bonds, and for every $100 in liabilities, it holds $113.98

The company was founded by Joseph Cullen Root, regarded as America’s brain child of fraternal benefit societies. He led and managed different businesses, such as a mercantile establishment, two flour mills and a grain elevator. During his lifetime, he was able to sell real estate and insurance, organize a lecture bureau, and even practiced law. His decision to create Modern Woodmen of America Insurance Company sprung due to his wanting to create a group that would be able to protect families even after its breadwinner’s death.