Which is NOT a characteristic of fraternal benefit societies?

Fraternal benefit societies are unique organizations that combine aspects of both social and financial support for their members. The correct answer reflects a fundamental characteristic of these societies: they do not primarily function as investment firms for members. Instead, their main purpose is to provide life and health insurance, along with various social and community benefits.

These societies are typically organized on a non-profit basis, reinforcing their focus on community and member welfare rather than profit generation. Furthermore, membership is often comprised of individuals from specific communities, emphasizing shared interests and values among members rather than just a financial investment. Hence, the idea of them operating primarily as investment firms does not align with their primary mission or organizational structure.