Economically Feasible Cost To be insurable, the chance of loss must be small. The cost of an insurance policy consists of the pure premium, or amount actually needed to make loss payments, and the expense portion. If the chance of loss approaches 100%,...

A Large, Homogeneous Group of Exposure Units To facilitate the prediction of the probable loss through use of the law of large numbers, it is essential that there be a large number of similar units exposed to the same peril. If a company can insure onl...

In the life insurance industry it became less and less true that only the lower income groups were industrial policyholders. Industrial insurance, far from providing only burial funds, became more generally part of a larger family program. In the late 194...

Equally important in providing life insurance to working people at low cost has been the increasing trend to write ordinary instead of industrial insurance on their lives. An important step in this direction was taken by the Metropolitan Life Insurance Co...

Two further developments helped to reduce the cost of industrial insurance in the twentieth century. As early as 1911 the company inaugurated a plan whereby industrial policyholders willing to pay weekly premiums directly and continuously to the home offi...

Over the decades, well meaning but often misinformed persons have decried what they have called "the high cost of weekly premium industrial insurance.” Any offhand comparison with the cost of ordinary insurance or

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