The Masonic Benefit Fund, Established 1925.
Any Master Mason in good standing who is a member of any Lodge recognized by the Grand Lodge of A.F. & A.M. of Virginia who resides in Masonic Districts 1A, 1B, 2, 3, 4, 5, 6, 7, 8, 9, or 10 is eligible for membership. You need not be a member of a Lodge in these Districts, only live within one.
When a member of the Fund passes, the Fund will make available to his beneficiary, an amount equal to the number of the Fund members multiplied by $3.00. For example: if the number of Fund members is 1,000 multiply by $3.00 equals $3,000.00. This would be the amount his beneficiary would receive. As of March 2012 there are 574 members of the Fund.
Members are assessed $4.00 for each Fund member that passes to the celestial lodge above. The Secretary of the Fund will then bill you for the assessments when ten (10) brothers have passed. Typically, you will be assessed $40.00 four times per year.
This is not an insurance policy of any type. It is a pre-collected fund to be made available to a member's family at a time of great need.
The Masonic Benefit Fund is a 501(c)(8) IRS registered non-profit origination.