A social organization that provides insurance or other benefits only to its members is referred to as?

The correct answer is a fraternal organization. This term specifically describes a type of social organization that provides insurance or similar benefits solely to its members. Fraternal organizations are typically formed around a common bond, such as a shared religion, trade, or social interest, and they often promote social welfare through mutual aid and support among members.

These organizations offer various services, including life insurance and other benefits, to their members at reduced rates or with unique terms that reflect the organization's values and principles. This distinction is what sets fraternal organizations apart from other types of insurance providers, which may serve a broader clientele without the emphasis on shared membership or camaraderie.

Understanding the concept of fraternal organizations is important in the context of insurance regulation and practice in Florida, as they are subject to specific statutes that govern their operations and the types of benefits they can provide.