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friendly society

Line breaks: friend¦ly so|ci¦ety

Definition of friendly society in English:

noun

(In the UK) a mutual association providing sickness benefits, life assurance, and pensions.
Example sentences
  • They can buy from life insurance companies, friendly societies, unit trusts, building societies, or banks.
  • In contrast, a building society or a friendly society has set guidelines on the purposes for which it will lend.
  • In 1997, over 12 million people were covered for medical expenses by insurers, friendly societies, and cash plan companies.

Origin

originally the name of a particular fire-insurance company operating circa1700.

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