Benefit society

A benefit society is an organization or voluntary association formed for mutual aid, benefit or insurance to provide for mutual relief.

Related Topics:
Organization - Voluntary association - Mutual aid - Insurance

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Examples of benefit societies include trade unions, friendly societies, Fraternal organizations such as Freemasons and Oddfellows and many others.

Related Topics:
Trade union - Friendly societies - Fraternal organizations - Freemasons - Oddfellows

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A benefit society is characterized by

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• each member having equivalent opportunity for a say in the organisation
• each member having potentially equivalent benefits.
• aid would go to those in need (strong helping the weak)
• collection fund for payment of benefits

Benefit societies can be organized around a shared ethnic background, religion, occupation, geographical region or other basis.

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Benefits may include money or assistance for sickness, retirement, education, birth of a baby, funeral and medical expenses, unemployment.

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Often benefit societies provide a social or educational framework for members and their families to support each other and contribute to the wider community.

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Benefit society: History of benefit societies ►