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.
Insurance provided by fraternal orders or societies to their members. Such insurance may be written on an assessment or legal reserve basis
Insurance protection provided by fraternal benefit societies, organized without capital stock and not for profit, and maintaining a lodge system. Practically all fraternals operate on a level rate and legal reserve basis in accordance with special fraternal insurance regulation, and under supervision of the state insurance authorities. They are subject to periodical examinations. Rate payments often are collected by the financial secretaries of the local lodges. The distinguishing feature of fraternal insurance in contrast to old-line insurance is the "open contract'.
Cooperative insurance provided by social organizations for their member. The social group may pay premiums into a fund and withdraw monies to pay claims upon the death of one of its members.
Insurance offered a special group of people, namely, members of a lodge or a fraternal order. Such insurance may be written on an assessment basis or on a legal reserve basis.
Certain fraternal organizations have a form of cooperative life or disability insurance that is available to members of the fraternal organization.
A cooperative type of insurance provided by social organizations for their members.
