§ 627.502, Fla. Stat. · Part IV. INDUSTRIAL LIFE INSURANCEPOLICIES
“Industrial life insurance” defined; reporting; prohibition on new policies after a certain date.
Text — 2026 Florida Statutes
(1) For the purposes of this code, “industrial life insurance” is that form of life insurance written under policies under which premiums are payable monthly or more often, bearing the words “industrial policy” or “weekly premium policy” or words of similar import imprinted upon the policies as part of the descriptive matter, and issued by an insurer that, as to such industrial life insurance, is operating under a system of collecting a debit by its agent.
(2) Every life insurer servicing existing industrial life insurance shall report to the office all annual statement data regarding the exhibit of life insurance, including relevant information for industrial life insurance.
(3) Beginning July 1, 2021, a life insurer may not write a new policy of industrial life insurance.
Notes and commentary — not statutory text
History
s. 508, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 405, 420, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318; s. 1135, ch. 2003-261; s. 17, ch. 2021-104.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0627/0627.html
- Text hash
- sha256 6d8cbedd58d1d67f1cee86d18d8f3312c696d75621084af9a0bcd885f00b752d
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
- composed from the Legislature's structured HTML (one source of text; no PDF extraction); a second, independent reading of the same bytes agrees character for character
Cited by 3 provisions
Provisions in this library whose text cites § 627.502, Fla. Stat.. Each shows the citation as that text prints it.
The Florida Statutes
- § 626.782, Fla. Stat.“Industrial class insurer” defined.Printed as s. 627.502
- § 626.783, Fla. Stat.“Ordinary-combination class insurer” defined.Printed as s. 627.502
- § 626.97075, Fla. Stat.Life insurance, disability insurance, and long-term care insurance; discrimination against living organ donors prohibited.Printed as s. 627.502(1)
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.