Industrial Assurance Life

Industrial Assurance Life

Industrial Assurance; life assurance in Britain on which the premiums are usually paid weekly by the policy-holder to collectors in his home. So called because it developed among the employees of the industrial north. It is largely conducted by a small number of life assurance companies and friendly societies. It has tended to be overtaken by 'ordinary' life assurance as wages rise and wage-earners become accustomed to paying monthly by postal order or cheque. In recent years it has been renamed 'Home Service' Assurance.

Industrial Bankers' Association, British trade association of the smaller finance houses in hire purchase observing a strict code of conduct on liquidity of funds and an excess of assets over liabilities.

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