Life insurance policies with small face amounts where the premium may be collected weekly by agents is
A)credit life insurance.
B)mortgage life insurance.
C)industrial life insurance.
D)special purpose insurance.
E)group life insurance.

Question

Quizplus · Accepted Answer

Industrial life insurance is also known as home service life insurance or burial insurance. It is designed for individuals who want to purchase small face amount policies that can be paid in weekly or monthly premiums collected by agents who come to their homes. These policies usually have face amounts of $1,000 to $5,000 and are usually issued on a non-medical basis, meaning that there are no medical exams required to qualify for coverage. The premiums are relatively low because the face amounts are small, and the policies are designed to cover final expenses such as funeral costs.

Life Insurance Policies with Small Face Amounts Where the Premium