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Industrial insurance
A form of life
insurance which today accounts for a small percentage
of the business sold through the home service distribution
system but a considerable percentage of the insurance
in force. It is characterized by (a) death benefits
of $2,000 or less, (b) a weekly, biweekly, or monthly
premium payment schedule, (c) the collection of
premiums at the policyowner's residence by an agent,
and (d) minimum underwriting requirements. |
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