An insured has a life insurance policy with a face amount of $500. He pays a premium each week to the agent who sold him the policy. What kind of policy does the insured have?

Question

Social Studies

Billy Silva

3 July, 11:53

An insured has a life insurance policy with a face amount of $500. He pays a premium each week to the agent who sold him the policy. What kind of policy does the insured have?

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Answers (1)

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Will Baker · Answer 1

Industrial life

Explanation:

An industrial life insurance is an insurance policy which provides the insurance coverage to the industrial workers or for those people who are not able to buy or afford insurance for some bigger amounts. In industrial life insurance policy, a fixed amount is provided to the insurer in case of an accident or death.