What Is a 501(c)(8)?
Most People Only Know About the (3). The (8) Changes Everything.
There are 29 different types of 501(c) nonprofit classifications recognized by the IRS. Most Americans are familiar with 501(c)(3) organizations, which include churches, schools, and charitable organizations. But the 3 is just one type.
A 501(c)(8) is a Fraternal Benefit Society, a not-for-profit financial institution that provides life insurance and member benefits to its members. These organizations do not answer to shareholders. They do not spend tens of millions on advertising. Instead they reinvest their surplus directly into their members through benefits, programs, and competitive coverage.
Think of It Like the Credit Union of Life Insurance.
Most people are familiar with the difference between a bank like Bank of America and a credit union like Navy Federal. The credit union is a not-for-profit. It does not have shareholders demanding profits. So it passes better rates and more value directly to its members.
A 501(c)(8) fraternal benefit society works the same way in the life insurance space. No advertising budget in the hundreds of millions. No shareholders to pay. Just members, served by an institution that has existed for over 100 years and reinvests everything back into the people it covers.
The Most Overlooked of All.
Everyone donates to 501(c)(3) organizations and banks at 501(c)(1) credit unions. Almost nobody knows the (8) exists — or what it can do for a family.
Coverage Most Companies Turn People Away From.
First Day Coverage
Members can often receive first day full coverage even after a heart attack, stroke, or cancer diagnosis within the last three years.
Lenient Underwriting
These institutions were built to serve members, not to screen them out. The qualification standards reflect that mission.
Multi-Tier Pricing
A healthy 60-year-old should not pay the same rate as a 60-year-old with a serious health history. We find the company that fits your specific situation.
Most people don't have life insurance. They have death insurance. It does nothing for them until they die. Not-for-profit life insurance gives you hundreds, if not thousands of dollars worth of resources while you are still alive.
Common Questions, Honest Answers.
No. 501(c)(3) organizations are charitable, religious, or educational. 501(c)(8) organizations are fraternal benefit societies — not-for-profit financial institutions that provide insurance and member benefits to their members.
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