Life Insurance Learning Center - Term Life Insurance Types
Industrial Life Insurance
Most normal life insurance plans pay a death benefit of at least $1,000 or more. However, industrial life insurance policies usually pay a death benefit of less than $1,000.
The actual premiums are collected at the policy owners' homes once a month, or sometimes weekly. This type of insurance is sometimes called debit life insurance or home services life insurance because an agent literally comes and collects the premiums.
These policies are usually purchased by low income people. It is also good for people who regularly forget to pay their premiums because rather than mailing them in, a life insurance agent stops by and picks them up.
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