Life · Chapter 4 · Special Products
Industrial (Home Service) Life
Definition
Small face amounts, premiums payable weekly or monthly and collected at the home by a debit agent working a route. Often sold as burial insurance.
Exam tip
Florida's definition (F.S. 627.502) keys on the premium frequency, the "industrial policy"/"weekly premium policy" legend, and the debit system — there is no statutory face-amount limit. Insurers may still service existing policies, but Florida has barred writing new industrial life policies since July 1, 2021.
Related terms