Florida § 627.502 - “Industrial life insurance” defined; reporting; prohibition on new policies after a certain date.
Full text of Florida Florida Statutes § 627.502 — “Industrial life insurance” defined; reporting; prohibition on new policies after a certain date., with citation guidance and answers to common questions.
§ 627.502. “Industrial life insurance” defined; reporting; prohibition on new policies after a certain date.
(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.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 627.502
What does Florida Statutes § 627.502 cover?
Section 627.502 ("“Industrial life insurance” defined; reporting; prohibition on new policies after a certain date.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 627.502?
A common citation format is "Florida Statutes § 627.502" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 627.502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.