By: Peggy Mace

Peggy Mace — Wed, 31 Jul 2013 22:28:10 +0000

"Life insurance per unit" is the cost of life insurance per thousand dollars of coverage. Child Riders are priced per unit. E.g. a $10,000 child rider may cost $60 per year, or $6.00 per unit. Flat extras are also charged by unit. The insurance company may add on $7.50 per unit of life insurance for 3 years after having surgery for prostate cancer. For a $100,000 policy, that would add on $750 per year, but then the flat extra would drop off after three years and the policy would cost $750 less. You can also price your own policy if you know the cost of one unit of life insurance. E.g. If you are buying a final expense policy that costs $50 per unit, a $10,000 policy will cost $500 per year.

New answer on: What Does Life Insurance Per Unit Mean?

By: Peggy Mace