Definitions for "Fraternal Insurance"
Life or health insurance protection provided by fraternal benefit societies. Practically all fraternals operate on a legal reserve basis in accordance with special fraternal insurance regulations and under supervision of the state insurance authorities. Before purchasing fraternal insurance, an individual must become a member of the organization.
Insurance coverage issued by a fraternal benefit society. See also open contract.----------[ Back
Cooperative insurance provided by organizations for their members. The group may pay premiums into a fund and withdraw money to pay claims when a member dies. Gatekeeper Role description of the primary care physician in HMOs who serves to control utilization and referral of enrollees.