Industrial Life and Accidental Death and Dismemberment Insurance
The company soon expanded into "industrial life insurance," so called because it was generally aimed at industrial workers, which was also sold on the debit system, and accidental death and dismemberment insurance, which rather than a weekly income paid a stated, fixed amount, if the insured died by accident or lost sight or use of an eye or a limb. The industrial life insurance plans were usually for small face amounts: typically $250, $500, or $1,000 in the early year. They featured double indemnity for accidental loss of life, which could be triple indemnity or even more if death occurred as the result of an accident on a public conveyance. (For this reason these plans were often derided by their detractors as "streetcar insurance.")
Read more about this topic: National Life And Accident Insurance Company
Famous quotes containing the words industrial, life, accidental, death and/or insurance:
“I know no East or West, North or South, when it comes to my class fighting the battle for justice. If it is my fortune to live to see the industrial chain broken from every workingman’s child in America, and if then there is one black child in Africa in bondage, there shall I go.”
—Mother Jones (1830–1930)
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—Thomas Mann (1875–1955)
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—T.S. (Thomas Stearns)
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—Henry Wadsworth Longfellow (1809–1882)
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—P.J. (Patrick Jake)