Fraternal Life Insurance
Definition - What does Fraternal Life Insurance mean?
Fraternal life insurance is life insurance coverage that a fraternal group, which is a non-profit organization created through a lodge system, offers to its members.
Insuranceopedia explains Fraternal Life Insurance
Fraternal life insurance is a contract where a fraternal benefit society insures the life of a member who, in exchange, pays monthly contributions to the group. The fraternal group then utilizes its earnings to carry out its member-supported advocacy work, whether social, educational, moral, patriotic, religious, or intellectual. Most fraternal life insurance policies come with a number of other benefits.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.