What is the main purpose of industrial insurance?

The main purpose of industrial insurance is to provide minimum coverage for blue-collar workers. This type of insurance was historically designed to offer accessible and affordable life insurance options to individuals in lower-income jobs, where access to more comprehensive insurance products might be limited. The policies are typically small in face value and are often sold in industrial settings or through home service agents, catering to the specific needs of workers and their families in case of unforeseen events.

The historical context of industrial insurance stems from efforts to ensure that blue-collar workers could obtain basic life coverage without the higher costs associated with standard life insurance policies. This approach allows workers and their families to have a safety net, providing peace of mind that financial assistance would be available in the event of the policyholder's death.

While the other options touch on important concepts within the insurance industry, they do not align with the primary objective of industrial insurance, which is specifically tailored to meet the needs of blue-collar workers and their families.