Understanding Price Banding

What would be something you could share about that that people should be aware of when it comes to this thing called price banding.

A very high level price banding simply refers to the fact that the price per dollar of death benefit, we often in the pricing world think we price it per thousand dollars of death benefit. And so the rate, even for the same individual, the rate that we charge per thousand of death benefit changes the more you buy, the more you save. Type of idea that you'll see in lots of industries. The more money that goes into the policy, the more economies scale that occur. We can pass savings through to policyholders by banding our price rates, meaning that the rate per thousand generally will decrease as you increase the size of the policy.