Life Membership Fees is a capital receipt and we add it to the Capital Fund on the liabilities side of the Balance Sheet. We do not account it as an income because a life member makes onetime payment and avails services all through his life.

Life membership fees refer to a one-time payment made by an individual or an organization to become a member of a specific association, club, or organization for the rest of their life. This fee is typically higher than annual membership fees but offers the advantage of continuous membership without the need for yearly renewals.


- Continuous Membership: Life members enjoy the benefits of being a member of the organization for their entire lifetime without the hassle of annual renewals.
- Cost Savings: By paying a one-time fee, life members often save money in the long run compared to renewing their membership every year.
- Exclusive Privileges: Life members may receive special privileges and perks that are not available to regular members. These can include access to exclusive events, discounts on products or services, and priority booking for certain activities.
- Recognition: Life members are often recognized for their long-term commitment and support of the organization. They may receive special acknowledgments, certificates, or plaques to honor their lifetime membership.


- Financial Commitment: Life membership fees are typically higher than annual fees, so individuals or organizations should carefully consider their financial capacity before committing to a lifelong membership.
- Long-term Interest: It is important to assess whether the benefits and services offered by the organization align with the individual's or organization's long-term interests and goals.
- Stability of the Organization: Before opting for life membership, it is advisable to evaluate the stability, reputation, and longevity of the organization. Membership in an organization that may dissolve or become inactive in the future may not be as valuable.


- Interested individuals or organizations need to complete a life membership application form provided by the organization.
- The application form usually requires personal or organizational information, contact details, and payment details.
- Once the application is submitted, the organization reviews the application and may conduct background checks or verification processes.
- Upon approval, the applicant is notified, and the life membership fee is paid.
- The individual or organization then becomes a lifetime member and gains access to the benefits and privileges offered by the organization.

In conclusion, life membership fees offer individuals or organizations the opportunity to become permanent members of an association, club, or organization. It provides continuous access to benefits and privileges without the need for annual renewals. However, careful consideration of financial capacity, long-term interests, and the stability of the organization is essential before opting for life membership.