Beneficial Association - History, Organization And Incorporation, Rights, Powers, And Liabilities

An incorporated or voluntary nonprofit organization that has been created primarily to protect and aid its members and their dependents.

Beneficial association is an all-inclusive term that refers to an organization that exists for the mutual assistance of its members or its members' families, relatives, or designated beneficiaries, during times of hardship, such as illness or financial need. The assistance provided by a beneficial association can take the form of life, accident, health, or burial insurance. Beneficial associations may also be called benevolent associations, fraternal societies, fraternal orders, or friendly associations or societies.