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History

For close to a century, we’ve been helping people be wise with money and live generously. There have been changes over the years, but one common thread that connects our past to the present is our shared values of kindness, giving back, and more. Not to mention, our mission – to uncomplicate insurance, protect financial futures, and make a charitable impact – lives on.

A History of Helping

Our roots go back to the 1920’s when two American fraternal benefit societies, Aid Association for Lutherans (AAL) and Lutheran Brotherhood (LB), began issuing insurance policies in Canada. This made life insurance available to Canadian members – providing a much-needed safety net for families who had previously relied on church communities to come to their aid when faced with illness or the loss of a primary income. Lutheran Life Insurance Society of Canada was founded in 1972, sponsored by AAL and LB, and the heritage of neighbours helping neighbours, continued as the heart of the organization.

In 2008, we adopted the name FaithLife Financial. We are proud of our rich heritage of giving back to communities, alongside our members, and we believe that being wise with money and living generously go hand in hand.

What is a Fraternal Benefit Society?

FaithLife Financial operates as a Fraternal Benefit Society. Fraternal organizations inspire their members to participate in one of the largest member-volunteer networks in the world. Serving others is at the heart of the organization and this is done through a variety of programs, which improve the quality of life in communities.

A fraternal benefit society is an institution that has a representative form of government and is operated for fraternal or benevolent purposes, including the insurance of members, or the spouses/common-law partners or children of members, against accident, sickness, disability, or death.

Fraternal organizations…
• Provide insurance and investment products.
• Have members instead of shareholders.
• Share a common bond with their members.
• Use revenue from financial services operations for member benefits and to give back to the causes members care about.

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