Definition of friendly society in English:

friendly society

noun

  • (in the UK) a mutual association providing sickness benefits, life assurance, and pensions.

    • ‘An incorporated friendly society must include in its purposes the provision on a mutual basis of insurance against loss of income, principally as a result of sickness, unemployment, or retirement.’
    • ‘These are tax-free savings plans sold by The Children's Mutual, which is a friendly society.’
    • ‘It has also installed an integrated sales system for one of the largest friendly societies in the country.’
    • ‘Clubs have always tended to become businesses, since the friendly societies gave way to mutual funds.’
    • ‘It seems more likely that the event grew naturally out of the annual walks and picnics of the Braemar Wrights Society, a friendly society set up for local artisans.’
    • ‘In contrast, a building society or a friendly society has set guidelines on the purposes for which it will lend.’
    • ‘The respectable artisan who attended chapel in his Sunday best and ran a friendly society in his spare time was a more important and emblematic figure of modernity than the wild-eyed revolutionary with flaming torch.’
    • ‘The select committee has recommended a separate exemption for those funds that have the required mutual characteristics of friendly societies, which are exempt from income tax, provided they meet certain criteria.’
    • ‘The first was self-help, either by individuals or by groups pooling their resources and sharing risks in friendly societies and workers' associations.’
    • ‘According to a survey by the Oddfellows friendly society, the average cost of a burial in 2000 was £2,048.’
    • ‘Many friendly societies and insurance companies offer special stock market-based investments for young savers, but charges can be high, conditions can be inflexible and investment performance has often been terrible.’
    • ‘He also secured an Act in 1793 to encourage with parochial funds the formation of friendly societies.’
    • ‘He has been the labour historian most concerned with uncovering forgotten histories, including the histories of mutuals and friendly societies.’
    • ‘Among millionaires aged between 18 and 44, there are now 24% more women than men, according to Liverpool Victoria, a friendly society.’
    • ‘And this particularly applies to the tax exempt savings plans that you can get with friendly societies.’
    • ‘In 1997, over 12 million people were covered for medical expenses by insurers, friendly societies, and cash plan companies.’
    • ‘The evening also features slides and a talk from local favourite Bill Mitchell, plus songs, dialect poems and a presentation on the growth of friendly societies inspired by Skipton Building Society which is also 150 years old.’
    • ‘The friendly society, which specialises in providing affordable products to suit families, has until now relied almost exclusively on a single sales channel - direct home sales.’
    • ‘The friendly society also offers a facility, which is particularly popular for grandparents, whereby you can give them all the premiums for the entire plan at the outset, in return for a discount.’
    • ‘They can buy from life insurance companies, friendly societies, unit trusts, building societies, or banks.’

Origin

Originally the name of a particular fire-insurance company operating c 1700.

Pronunciation

friendly society