Louis D. Brandeis: “The Greatest Life Insurance Wrong”

(1906)

Document Text

Industrial insurance, the workingman’s life insurance, is simply life insurance in small amounts, on which the premiums are collected weekly at the homes of the insured. It includes both adult and child insurance. The regular premium charge for such insurance is about double that charged by the Equitable, the New York Life, or the Mutual Life of New York, for ordinary life insurance.… So heavy are the burdens cast upon those least able to bear them.…

In the fifteen years ending December 31, 1905, the workingmen of Massachusetts paid to the so-called industrial life insurance...

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