2007-07-21 07:20:47 · 6 answers · asked by Anonymous in Business & Finance ➔ Insurance
It depends. For life insurance, it usually means "per $1,000".
If it's liability insurance, it's more subjective, but each apartment would be ONE unit.
2007-07-21 09:47:55 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
Most often, per unit means per thousand. The most common place where you'll see this is on a children's term rider. Those are always sold per unit, with the maximum being 10 units.
If you're next question is, why? I have no clue! As with many things in insurance the reason why things are the way they are has been lost in antiquity. Don't even get me started on why there's a whole section of insurance called, "inland marine!" Go figure that one!
2007-07-21 08:36:40 · answer #2 · answered by Dave1001 3 · 0⤊ 0⤋
That's usually a cagey way of hiding the fact that they're selling low-limit insurance for an inflated price. The value of a "unit" may decrease with your age. It might be $1,000 at age 45 but may be as little as $200 at age 80.
2007-07-21 08:55:49 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
In Life insurance it is per thousand
In Liability Insurance it can be " per item: ie: person, place or thing.
2007-07-21 12:08:59 · answer #4 · answered by DFK 3 · 0⤊ 0⤋
If its on a claim! It can mean different things most of the time ir means how many times they are billing for a procedure code!
2007-07-21 10:54:36 · answer #5 · answered by Christa 3 · 0⤊ 0⤋
Run. If a company can't be upfront about what they sell, I wouldn't trust them. Check with someone who is professionally trustworthy to help you with your needs.
2007-07-22 02:22:17 · answer #6 · answered by aaron p 5 · 0⤊ 0⤋