English version

friendly society in Insurance topic

From Longman Dictionary of Contemporary Englishfriendly societyˈfriendly soˌciety noun [countable]  SSOBFIan association in Britain that people regularly pay small amounts of money to, which then provides them with money when they become old or ill
Examples from the Corpus
friendly societyTheir friendly society status means that they have no shareholders in the normal sense of the term.