"Ordinary" and "industrial" insurance construed

In construing the provisions of KRS 304.15-310 to 304.15-360, inclusive, "ordinary insurance" or "insurance upon the ordinary plan" shall be considered to be insurance that may be paid for by a single premium, by annual premiums or by semiannual or quarterly or other installments thereon at the option of the insurer; and "industrial insurance" shall be considered to be insurance as defined in KRS 304.15-020.