benefit society

/B EH1 N AH0 F IH0 T S AH0 S AY0 AH0 T IY0/
noun
  1. 1

    A society or association formed for mutual insurance, as among tradesmen or in labour unions, to provide for relief in sickness, old age, etc. and for the expenses of burial.

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Source: https://en.wiktionary.org/wiki/benefit%20society

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