Carrie is a member of the Benevolent and Protective Order of the Elks. As such, she receives discounts on things like hotels, bike tours, online shopping, and insurance. She decides to purchase a $20,000 whole life insurance policy through the Order of the Elks. This is possible because the Elks are:

Mutual insurance companies are owned by their policyholders, who participate in the profits and losses of the company. While they do provide insurance products, they do not typically require a fraternal bond among members, which distinguishes them from fraternal benefit societies.

Reciprocal insurance groups consist of members who exchange insurance contracts among themselves, often managed by an attorney-in-fact. Although they provide mutual coverage, they lack the fraternal aspect and community focus that characterizes fraternal benefit societies like the Elks.

Stock insurance companies are owned by shareholders and aim to generate profits for them. They may offer a variety of insurance products, but they do not provide the communal and charitable benefits associated with fraternal organizations, which is essential in Carrie’s case with the Elks.