
WoodmenLife Annual Report
Financial Strength
At WoodmenLife, we understand what is truly important – keeping your interests in mind as we make decisions that impact the future and overall financial strength of our company.
Strength In Numbers
Recent Results
In 2021, WoodmenLife demonstrated outstanding financial performance, with a total income of more than $952 million and certificate reserves (funds held to guarantee future benefit payments) of more than $8.1 billion.
WoodmenLife finished Fiscal Year 2021 with positive results, including assets of $11.5 billion1 and $39.2 billion of insurance in force.
In addition, total surplus for WoodmenLife has consistently grown over the past nine years, reaching a record high of $1.73 billion in 2021.

DOLLARS IN ASSETS (BILLIONS) LIABILITIES $9.74 BILLION; AS OF DEC. 31, 2021
Assets
10-year history
$11.5 billion in assets

DOLLARS OF FACE AMOUNT IN FORCE (BILLIONS)
Insurance In Force
10-year history
$39.2 billion of insurance in force

(BILLIONS)
Surplus
10-year history
$1.73 billion in surplus
Financial Rating

One way to judge the strength of a company is to look at how its financial strength and performance are rated by an objective rating agency. Our rating is a direct reflection of the care with which WoodmenLife manages our business.
WoodmenLife was once again assigned a rating of A+ (Superior) with a stable outlook once again in 2021. It was the 46th consecutive year we received the A+ Superior rating, which is the second–highest out of 15 awarded.
Doing What’s Right

Patrick L. Dees
Chairman, President & CEO
WoodmenLife
Omaha, NE
In an industry based on long-term success, you want to trust your time and money with a company you know will perform. An organization’s investment philosophy directly affects its security and is a vital factor in its growth and stability. We don’t chase profits to please stockholders; we pursue the best interests of our members. WoodmenLife is an organization that has lasted more than a century by looking ahead and doing what’s right.
A Solid Investment
Another sign of WoodmenLife’s strength is that our investment income has held steady in recent years, despite declining interest rates.
Bonds
Bonds commonly referred to as “investment grade” are those included in the top four rating categories – Aaa, Aa, A and Baa. Bond ratings are like grades on a report card, with Aaa carrying the smallest degree of investment risk, and C being the highest. At year-end 2021, 99 percent of WoodmenLife’s bond holdings were investment grade.
Real Estate & Mortgage Loans
Real estate accounted for just under 1 percent of WoodmenLife’s invested assets in 2021. These holdings consist of property that is owned by, and either leased to others or occupied by, WoodmenLife.
At the end of 2021, about 19 percent of our assets were in mortgage loans. These loans are secured by commercial real estate, including office, retail and industrial properties. WoodmenLife is always a first-lien mortgage holder, and we finance no more than 75 percent of a property’s value.
2021 Refunds
Refunds2 paid to members holding life and accident and health certificates during 2021 were $27.4 million.
Disclosures
Total assets of $11.5 billion. Liabilities of $9.7 billion; as of Dec. 31, 2021
Refunds are declared annually by the company. The payment of refunds is not guaranteed because they depend on the company’s investment, expense and mortality experience.
WEB3 - 4/4/2022