Under NY Ins. Law § 3220, which feature most clearly distinguishes an industrial life policy from an ordinary (standard) life policy issued in New York?

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Industrial life policies feature small face amounts with premiums collected weekly or monthly at the insured's home, plus a 1-year suicide exclusion — NY Ins. Law § 3220 governs 'industrial' life insurance, historically marketed door-to-door with weekly or monthly premium collection by a 'debit' agent. Face amounts are small and premiums are calibrated to working-class budgets. Section 3203(b) sets the suicide exclusion at 1 year for industrial policies versus the standard 2 years for ordinary policies. Industrial life is still subject to NY's incontestability and grace-period rules; it is not exempted, and it is not sold via the health exchange (which covers A&H, not life). Dividend payment is a function of participating vs. non-participating status, not of industrial vs. ordinary.

Under NY Ins. Law § 3220, which feature most clearly distinguishes an industrial life policy from an ordinary (standard) life policy issued in New York?

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