The way to calculate optional life insurance is to take the factor that fits your situation (e.g. female nonsmoker, age 50) and multiply it times the number of units of life insurance you want. A unit is $1,000 of coverage. Sometimes the factor determines a monthly rate, sometimes it determines an annual rate.
Let's say your factor is for the monthly rate, and is $0.10 (ten cents per unit per month). To buy $50,000 of optional life insurance, take $0.10 times 50 (the number of $1,000 units you are buying). Your monthly premium for that $50,000 of life insurance is $5.00. This will probably go up each year.
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Let's say your factor is for the monthly rate, and is $0.10 (ten cents per unit per month). To buy $50,000 of optional life insurance, take $0.10 times 50 (the number of $1,000 units you are buying). Your monthly premium for that $50,000 of life insurance is $5.00. This will probably go up each year.