BetterLife is a member-owned life insurance company that offers reliable protection, friendly service, and knowledgeable guidance, all with you and your loved ones in mind. We love what we do, and we are passionate about making a difference in our communities.

Our core values at BetterLife are:

Our members come first.

We know you and your community.

Supporting your community is what we do.

We are here for you today and tomorrow.

Our History

Our name BetterLife may be new, but the people and purpose behind the name are not.

In January 2021, two member-owned fraternal benefit societies with similar histories came together to form BetterLife, a different kind of life insurance company. Both companies were founded over 115 years ago by “average,” hardworking Americans with the goal of providing affordable protection to families in their communities. Members of both societies came together to socialize, have fun, and help others.

BetterLife honors our rich, combined history by continuing to focus on what’s best for our members, while also finding new ways to serve you and your community.

What is a fraternal benefit society?

While many community-focused life insurance companies are moving away from using the term “fraternal benefit society,” you may still hear it from time to time.

Fraternal benefit societies are member-owned, not-for-profit organizations that offer life insurance products and other benefits to their members. Each society must have a system of local lodges or branches that govern the society and coordinate various social, educational, charitable, and patriotic programs for its members and the public.

Fraternal benefit societies operate similarly to mutual insurance companies, as they have no shareholders. Profits that are not needed for operations, claims payments, and maintaining reserves are returned to their members by putting the money back into their communities or towards member-exclusive benefits.

Because of their volunteer efforts and charitable programs, fraternal benefit societies are subject to Chapter 501(c)(8) of the Internal Revenue Code and are thus tax-exempt.