What Is A Life Insurance Unit?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    A life insurance unit is $1,000. Life insurance is priced per unit. So if you wanted to purchase a $500,000 life insurance policy that costs $2.00 per unit, the cost of the policy would be $1000 per year, plus policy fee. Most people do not see the unit price when purchasing life insurance, but buying a child rider is a time when the unit price is often shown and you are given the chance to pick how many units you want you want in the rider.
    Answered on October 2, 2013
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