Group Life

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Under federal tax laws, what is that tax treatment for an employer providing $50,000 of a contributory group Term Life plan to all its eligible employees?

Portion of the premiums paid for by the employee may be a tax deduction

An employee with $25,000 group term life coverage was recently fired. This employee's group coverage may be converted to a

$25,000 individual whole life policy

Which provision is NOT a requirement in a group life policy?

Accidental

If its employees share in the cost of insurance, what type of group life insurance plan would a corporation have?

Contributory

Which required must be met for an association to be eligible for a group life plan?

Group was formed for purpose other than acquiring insurance


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