Kaufman & Broad Inc. agreed to sell an insurance unit.

The agreement calls for the home service marketing division of Kaufman & Broad’s subsidiary, Coastal State Life Insurance Co., to be sold to Southlife Holding Co. of Nashville, Tenn., for $15 million in cash and a $6-million note. The division, which employs 200 insurance agents who collect premiums from policy holders in person instead of by mail, operates mainly in the Southeast. Kaufman & Broad, which is based in Los Angeles, specializes in housing and shelter-related financial services and life insurance.