Definitions for "Industrial Life Insurance"
Life insurance, usually with a face amount of less than $3,000, under which premiums are payable more frequently than ordinary life insurance (usually weekly) and characterized by collection of premiums and servicing of the policy at the home of the insured by a "debit agent".
Life insurance issued in small amounts for which premiums are collected on a weekly or monthly basis by an agent (or debit agent); also known as debit insurance.
life insurance provided by an individual policy with the term "industrial" printed on the policy as part of the brief description required by § 16-213 of the Maryland Insurance Code, and under which premiums are payable monthly or more frequently, if the face amount of the insurance provided by the policy does not exceed $ 1,000. Md. Insurance Code Ann. § 1-101