What type of insurer requires membership to receive benefits?

Fraternal insurers are unique in that they operate on a membership basis, providing various insurance benefits primarily to their members, who often share a common affiliation such as a religion, occupation, or community interest. Membership is not just a technicality; it signifies a bond or relationship among members that underscores the fraternal nature of the organization. Members typically participate in mutual aid, and the benefits extended, such as life insurance or health coverage, are grounded in the collective support of the member community. This characteristic distinguishes fraternal insurers from stock insurers, which are profit-driven and do not require membership for coverage, reciprocal insurers, which involve members providing insurance to each other on a cooperative basis, and Lloyd's associations, which function more as a marketplace for underwriting risks rather than a membership-driven entity. Thus, fraternal insurers are specifically identified by the requirement of membership to access the benefits they provide.