ABOUT FRATERNALS | WSA Fraternal Life (2024)

FAQs

What is the meaning of fraternal life? ›

In religious life, the next critical relationship for each member is with our own community. Our fraternal life (communal life) is so essential because it is where we learn how to serve with unconditional charity, bearing with one another patiently.

They are member-owned, not-for-profit organizations that offer life insurance products and other benefits to their members, operating much like mutual insurance companies, as they have no shareholders.

How We Live Fraternal Life. Community life is built up by praying together and for one another, spending time together regularly and on special occasions, and by sacrificing for one another.

In 2021, there were 71 fraternal life insurance companies that had $364 billion of life insurance in force and $203 billion in assets (Tables 1.1 and 1.2).

Each Northwest fraternity and sorority was founded on similar principles of scholarship, leadership, civic engagement, community, and accountability. It is these fundamental values that separate our organizations from other campus organizations.

An organization has a fraternal purpose if membership is based on a common tie or the pursuit of a common object. The organization must also have a substantial program of fraternal activities. It must operate under the lodge system.

A fraternal benefit society is a membership organization that is legally required to offer life, health and related insurance products to its members, be not-for-profit, and carry out charitable and other programs for the benefit of its members and the public.

Fraternal beneficiary societies generally take the form of a secret society which has a set of secret rites and rituals. They engage in numerous activities of a social, educational and charitable nature.

Fraternal life is essential to religious life1. Its foundation is the call of Christ, who has gathered us to form a family around him. As his disciples and apostles, he reveals to us the love he bears in his heart; he forms us and he sends us out to cooperate in establishing his Kingdom.

Fraternal describes the relationship between brothers, but it is also used is to describe a club, society or fraternity, some brotherly group of people — usually men — with common interests. Fraternal twins, unlike identical twins, are formed from separate ova.

What is a fraternal community? ›

A fraternal organization is a brotherhood or a type of social organization whose members freely associate for a mutually beneficial purpose such as for social, professional or honorary principles. The term fraternal organization is from the Latin frater, meaning brother.

: insurance issued by a fraternal order or association to its members, formerly meeting its obligations by assessments upon members at the time obligations arose but now generally by a legal reserve.

Final answer: The distinctive feature of fraternal life insurance is that the societies providing it are exempt from income taxes. Options B, C, and D are not features of fraternal life insurance.