Insurance Policy Time Frames

by David Jenyns on September 8, 2007

Insurance Policy Time Frames
Industrial is the polite word used to cover a group of policies with weekly premiums, offered by a number of companies. So many people pay these weekly premiums that in spite of the small size of individual policies, their total volume is about one tenth of all life insurance issued by U.S. companies. A year’s total of the net payments on an industrial policy is roughly 40 percent higher than when the premium is paid in one sum annually on a comparable policy. Of course, a company incurs extra expense in collecting premiums weekly and keeping records on small policies, but the extra charge looks excessive. Let us hope that none of our readers is careless enough to buy industrial life insurance.

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