Per Thousand

  • For cost comparison purposes, the natural unit price for insurance is dollars of Premium per thousand dollars of death benefit per year—adjusted as appropriate and cash surrender values.

-- <ACLI> American Council of Life Insurance, on the FTC Staff's Responses to Criticisms of the Report of the Report on Life Insurance Cost Disclosure 

1979 - GOV - FTC STUDY OF LIFE INSURANCE COST DISCLOSURE - Cannon - 592p

  • Senate - COMMITTEE ON COMMERCE, SCIENCE, AND TRANSPORTATION
  • The maximum guideline level premium under TEFRA for a male age 35 purchasing our universal life policy is $15.33 per thousand of insurance.
  • By contrast, the average level premium for participating whole life insurance sold by 25 of our larger competitors is $21.92 per thousand, and that is 43 percent greater.
  • Furthermore—and I find this most interesting—the actual average annualized premium received by Hutton is considerably less than the $15.33.
  • Actually, since TEFRA it has been $9.46.
  • I think these numbers clearly demonstrate that universal life is not an investment.

1983 0510/11 and 0728 - GOV - Tax Treatment of Life Insurance

    • [PDF-
    • Subcommittee on Select Revenue Measures of the Committee on Ways and Means

I see four major potential problem areas:

  • a. The Model <NAIC Model Life Insurance Solicitation Regulation> requires various numerical amounts -- cash values, death benefits, dividends -- to be presented on a "per policy" basis, not on a per thousand or per unit basis."

--  DONALD B. MAIER

1976 - Cost Comparisons and Policy Language, Society of Actuaries - 16p