Which statement BEST describes 'industrial life insurance' as regulated by California Insurance Code §§ 10199-10199.4?

Why this is the answer

Industrial life insurance, also called 'debit' insurance, is a historical product class that California still regulates separately. Per Ins. Code § 10199 the defining traits are: (1) relatively small face amount, (2) premiums payable monthly or more often, (3) the policy must bear the words 'industrial policy' on its face, and (4) premiums are typically collected by a debit agent visiting the insured's home or workplace. §§ 10199.1-10199.4 add consumer protections — required grace periods, nonforfeiture, and required disclosures. The product targeted working-class families in the early 20th century; it survives mostly as final-expense / burial coverage. Group life and variable life are wholly distinct classes; an automatic term-to-whole-life conversion is not part of the industrial definition.