L&HMImedium
Under Michigan's MCL 500.4200-500.4244, which characteristic best describes industrial life insurance?
AGroup policy issued under a single master contract to an employer, covering employees as a class rather than individuals
BVariable universal life with separate account investment options
Small face amount individual life policy with premiums typically collected weekly or monthly at the home
DSingle-premium immediate annuity payable for life
Why this is the answer
MCL 500.4200-500.4244 defines industrial life insurance as small face amount individual policies issued without medical exam, with premiums historically collected weekly or monthly at the insured's home by a debit agent.
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