The standard checked bag feature will grant travelers one standard checked bag at 50 lbs. (23 kg) added to their allowance for the associated trip, including any baggage benefits from MileagePlus Premier® status, a checked baggage subscription or purchasing a ticket with certain credit cards. It does not cover any additional charges due to overweight or oversized baggage.
I'm still confused about this. The way I read it, buying this from the bundle gives me an extra standard checked bag at 50lbs added to my normal allowance of 3x70lbs as a 1k. Is this interpretation correct?