Many aspects of Equitable Reserve Association can be explained in terms common to a traditional life insurance company. But, while we offer financial products, we offer even more because we are a fraternal benefit association. Community and human needs, not always met by governmental bodies, are often addressed by fraternals. Through hands-on charitable and patriotic work, fraternals make a difference in the lives of individuals, communities and the nation.
Approximately 10 million men, women and children belong to fraternal benefit societies in the United States and Canada. Fraternals often share an ethnic, religious or occupational background; but Equitable Reserve, as a general fraternal, serves all people from every group.
By law, a fraternal benefit society:
- Is a voluntary association without capital stock organized and carried on solely for the mutual benefit of its members and their beneficiaries and not for profit
- Has a local unit [Equitable Reserve refers to them as "Assemblies"]
- Has a representative form of government
- Makes provision for payment of death, sickness, or disability and other benefits to its members. These other benefits are commonly known as fraternal benefits.
