I was thinking it would help the concrete stay warmer.
You are correct!
Adding rigid foam above and below grade helps significantly to keep your foundation warm.
I was surprised to learn that for many areas, the ground is warmer than the air.
So, the rigid foam on the edges of the foundation helps to trap in the existing heat in the ground. Also, adding rigid foam
There is a method called "Frost Protected Shallow Foundation" (FPSF) that uses rigid foam insulation on the exposed foundation edges, and also extends into the nearby ground. Here is a link to
Detailed PDF from National Association of Home Builders, 2004. They offer some helpful diagrams to explain how the rigid foam traps in the heat, and protects from the cold air / frozen ground.
Note that this method with a shallow foundation/footer is only approved for use in "heated buildings".
I used the FPSF method for a detached (heated) garage, and instead of digging a 24" deep footer, I only needed a 12" deep footer, which saved excavation costs. (Actually, in my zone I wasn't even required to use rigid foam- but I will, to keep heat in my slab, and to save heating / cooling costs.)
Charles (first post!)