industrial life insurance

  • One of the major classes of life insurance, generally sold in amounts of less than $1,000 by agents who service their insureds on so-called debits. Premiums are collected weekly or monthly at the home or workplace of the insured.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).