What is one of the primary functions of Fraternal Benefit Societies?

Fraternal Benefit Societies primarily focus on funding altruistic activities. These organizations are typically formed by groups with a common bond, such as ethnicity, religion, or professional association, and they often provide various benefits to their members, including life insurance, health insurance, and other forms of financial assistance. Beyond just providing financial services, they engage in charitable activities and community support, embodying the principle of mutual aid among their members. This gives them a unique position in the insurance market, where the goal extends beyond profit to encompass community welfare and support initiatives that benefit not only the members but also the broader society.

While some other options relate to aspects of insurance and finance, they do not accurately capture the main role of Fraternal Benefit Societies, which is centered on both the provision of benefits and charitable work.