About Fraternal Benefit Societies

What is a Fraternal Benefit Society?

A Fraternal Benefit Society is a special form of insurance company, owned not by stockholders, but by the members (the insured).

Most Fraternals share a common bond, such as ethnic origin, religion, occupation etc.

Fraternals are generally democratic in structure, with members grouped into local lodges, camps or councils. WSA is governed by its Bylaws.

Funds deposited with fraternals are not FDIC insured or covered by any state's guaranty fund.

This video from the American Fraternal Alliance explains what Fraternal Benefit Societies are and how they serve their members and local communities.

There are three basic types of insurance companies, Stock, Mutual, and Fraternal. Two things make Fraternals stand out from Stock or Mutual insurers:

Benefits - Fraternals generally offer their members Fraternal Benefits which if available from a commercial insurer would cost extra.

Charitable Community Support - Fraternals are dedicated to supporting the community through charitable contributions and volunteerism.

How do I become a member?

It's simple. Our members are our insured. Anyone purchasing a Life Insurance or Annuity product from WSA Fraternal Life becomes a member (subject to underwriting).

So, please take a few minutes to look around and find out more about WSA and the many benefits of membership. We welcome your questions.