Which organizations provide life and health insurance to members on a nonprofit basis?

Fraternal Benefit Societies are organizations that provide life and health insurance to their members on a nonprofit basis. These societies are typically formed around a common bond, such as ethnicity, religion, or social affiliation, and offer insurance products primarily to their members as a way to provide mutual aid and support. The nonprofit status allows them to operate primarily for the benefit of their members, rather than for profit, which aligns with their mission of promoting the welfare of their members.

In contrast, stock companies are for-profit entities that aim to generate profits for their shareholders. Reciprocals are a type of insurance exchange where members provide insurance to one another but are not primarily focused on nonprofit service. Risk Retention Groups are also for-profit and are formed to provide liability coverage among their members. Thus, the nature of Fraternal Benefit Societies uniquely suits them for offering life and health insurance on a nonprofit basis.