Page 22 - Life Assurance

/1 Industrial Insurance:

Industrial insurance refers to a type of life
insurance (usually with a cash value) sold
primarily in small policies, frequently called
home service life insurance, sold by debit
agents, who collect premiums by calling
personally at the buyer's homes.

The rate of growth in this field of insurance
in the United States has leveled off and the
amount in force declined slightly for the first
time in 1985. There are several reasons or this
decline:

- The growth of group insurance and Social
security coverage, which have filled the need
formerly supplied by industrial insurance.

- Some insurers reclassified their business
formerly called industrial, to ordinary or have
eliminated new industrial sales altogether. The
economic status of most individuals in the industrial
market has improved to the point where the chief
selling feature of industrial insurance - its convenient
premium - is no longer so important as it once was.

5/3/2 Group life insurance for employees:

Not to confuse with industrial insurance,
group life insurance is commonly sold to
employers of group of workers ranging in size

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