A society authorized to do business in the commonwealth may provide for the payment of—

1. (a) Death benefits in any form;
2. (b) Endowment benefits;
3. (c) Annuity benefits;
4. (d) Temporary or permanent disability benefits;
5. (e) Hospital, medical or nursing benefits;
6. (f) Monument or tombstone benefits to the memory of deceased members not exceeding in any case the sum of three hundred dollars; and

7. (g) Such other benefits as authorized for life insurers and which are not inconsistent with this chapter.

   A society shall specify in its rules those persons who may be issues, or covered by, the contractual benefits authorized in clauses (a) to (g), inclusive, consistent with providing benefits to members and their dependents.