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.
What does this mean?
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.
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 organizations that offer life insurance products and other benefits to their members. Each society must have a system of local lodges or branches that governs the society and coordinates 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.
At BetterLife, we know that everyone’s needs are different. When you speak with one of our agents, we’ll start by analyzing your specific, individual needs. Then, we take the time to create a customized recommendation and walk you through the options we feel are best for you.
Meet with your local agent in-person, in a place that works for you, whether it’s your dining room table or your favorite coffee shop.
A real person will give you a call to assess your needs, create your plan, and put your policy into place, all over the phone.
Chat with your agent over a video call, right from the comfort of your own home.
Our members’ communities are the heart and soul of our organization and we are committed to helping our members make a difference where it matters most.
BetterLife is so much more than a life insurance company, and that’s what makes us different. We offer exclusive member benefits at no extra cost, along with the opportunity to connect with like-minded individuals in your local BetterLife member community group.
In your local member community group, you can gather with other members and families near you. BetterLife member community groups are all about caring, connecting, and supporting communities. They host fun social events, hold local fundraisers, and coordinate volunteer activities in the community. Learn more about joining your local BetterLife member community group here.
$509,000+ in charitable contributions
$89,000+ in BetterLife Member Benefits awarded
36,000+ hours spent volunteering
*Impact statistics are a total of BetterLife’s community involvement in 2020, amid the COVID-19 pandemic.