Fraternal Life Insurance: What You Need To Know

Fraternal life insurance is a type of life insurance coverage provided by a fraternal organisation, which is a non-profit group formed through a lodge system. Members of these organisations share a lifestyle connection and a strong sense of community, and the insurance is provided exclusively to them in exchange for monthly contributions. These contributions are then used to support the fraternal group's advocacy work, which may be social, educational, moral, patriotic, religious, or intellectual in nature.

What is a fraternal benefit society?

Fraternal life insurance is provided by a fraternal benefit society, a nonprofit group formed through a lodge system, exclusively for its members. Members pay monthly contributions to the society, which are used to support advocacy work in areas such as social, educational, moral, patriotic, religious, or intellectual causes.

Fraternal benefit societies are rooted in the spirit of giving back and have a long history of serving their communities. Members of these societies often share a lifestyle connection and have a strong sense of community. The American Fraternal Alliance reports that fraternal benefit societies perform more than 80 million hours of community service and donate more than $533 million to charitable programs.

These societies offer a unique opportunity to their members by providing quality insurance products with community give-back opportunities and a wide range of benefits. Most fraternal life insurance policies also include additional member benefits.

When considering fraternal insurance for a client, it is important to keep in mind that these organisations' members share a lifestyle connection and have a strong sense of community. This type of coverage is ideal for clients who enjoy giving back and want more out of their insurance coverage.

Who is eligible for fraternal life insurance?

Fraternal life insurance is provided by a fraternal organisation, which is a non-profit group formed through a lodge system. It is exclusively for its members, who pay monthly contributions in exchange for life insurance coverage. The fraternal group uses these contributions to support its advocacy work, which may be social, educational, moral, patriotic, religious or intellectual in nature.

Fraternal life insurance is therefore eligible for members of fraternal organisations. These organisations' members share a lifestyle connection and a strong sense of community. They also tend to enjoy giving back, as fraternal benefit societies perform community service and donate to charitable programmes.

The early versions of fraternal organisations benefitted immigrant or religious groups that couldn't get life insurance due to lack of access. This could be because they were discriminated against, they were in dangerous jobs, or they couldn't afford life insurance.

What are the benefits of fraternal life insurance?

Fraternal life insurance is a type of life insurance coverage provided by a fraternal organisation, which is a non-profit group formed through a lodge system. Members pay monthly contributions, which the group uses to support its advocacy work. This work may be social, educational, moral, patriotic, religious, or intellectual in nature.

Fraternal life insurance is ideal for those who express a strong sense of community and enjoy giving back. Members of fraternal benefit societies share a lifestyle connection and the societies themselves are rooted in the spirit of giving back. They are often over 100 years old and have a longstanding role in their communities, serving members in different ways.

Fraternal life insurance policies also include additional member benefits. These benefits can include community give-back opportunities and a wide range of other benefits.

Fraternal life insurance is a unique opportunity to offer clients a quality insurance product with the added bonus of community give-back opportunities.

How does fraternal life insurance work?

Fraternal life insurance is a type of life insurance coverage provided by a fraternal organisation, which is a non-profit group formed through a lodge system. Members of these organisations share a lifestyle connection and a strong sense of community, and the insurance is provided exclusively for members.

Fraternal life insurance is a contract in which a fraternal benefit society insures a member's life in exchange for monthly contributions. The fraternal group uses these contributions to support its advocacy work, which may be social, educational, moral, patriotic, religious, or intellectual in nature.

Most fraternal life insurance policies also include additional member benefits. The American Fraternal Alliance reports that fraternal benefit societies perform more than 80 million hours of community service and donate more than $533 million to charitable programs.

Fraternal life insurance is ideal for clients who express a strong sense of community and enjoy giving back. It offers a unique opportunity to provide quality insurance with community give-back opportunities and a wide range of benefits.

What are the origins of fraternal life insurance?

Fraternal life insurance is a type of insurance coverage provided by a fraternal organisation, which is a non-profit group formed through a lodge system. Members of these organisations share a lifestyle connection and a strong sense of community.

The origins of fraternal life insurance can be traced back to the early versions of such organisations, which benefitted immigrant or religious groups that were unable to get life insurance due to a lack of access. These groups may have been discriminated against, in dangerous jobs, or simply unable to afford life insurance. To overcome this, they would pass a hat around at churches or community centres to collect money, which would then be passed on to the wives and children of deceased members.

Fraternal life insurance is a contract in which a fraternal benefit society insures a member's life in exchange for monthly contributions. These contributions are then used by the fraternal group to support its advocacy work, which may be social, educational, moral, patriotic, religious, or intellectual in nature.

Most fraternal life insurance policies also include additional member benefits. For example, the American Fraternal Alliance reports that fraternal benefit societies perform more than 80 million hours of community service and donate more than $533 million to charitable programs.

Frequently asked questions