How To Calculate Optional Life Insurance? 
The way to calculate optional life insurance is to take the factor that fits your situation -LRB- e.g. female nonsmoker , age 50 -RRB- 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 -LRB- ten cents per unit per month -RRB- . To buy $ 50,000 of optional life insurance , take $ 0.10 times 50 -LRB- the number of $ 1,000 units you are buying -RRB- . Your monthly premium for that $ 50,000 of life insurance is $ 5.00 . This will probably go up each year . 