[I051]

industrial insurance

Insurance (usually life or health insurance) written in small amounts, the premium for which is payable in frequent installments (usually weekly or monthly) and collected by an agent known as a debit agent. The payment frequency and collection facilities were designed decades ago to accommodate workers at industrial factories, who were paid weekly. Because of the expense and time involved, this coverage is rarely used.

(See Industrial Health Insurance, and Industrial Life Insurance.)

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100