Sentences with phrase «group term life insurance coverage»

An employer typically offers group term life insurance coverage at no cost to the employee up to $ 50,000, but the base amount varies by company.

As the company has both manual and white - collar employees, it has bought separate group term life insurance coverage for both the categories from the one insurance company.

For example, an employer providing group term life insurance coverage to employees may deduct the premium amount for the first $ 50,000 of coverage that the company purchases.

Under a group carve - out plan, the employee retains $ 50,000 of ordinary group term life insurance coverage, but the rest is provided by a universal life insurance policy.

Generally, an employer that offers group term life insurance coverage to the company's employees can deduct the premium amount for the first $ 50,000 of coverage that the company pays.

As group term life insurance coverage extended to two employees was more than the rest of the employees, L.K Construction had to pay a higher premium for them as compared to what it paid for the rest of the employees.

It means, if a company has both manual labour and white - collar office employees, the company can go for separate group term life insurance coverage for both of them on the basis of their salary and job profile.

Section 79 of the Internal Revenue Code provides that an employer can provide up to $ 50,000 of group term life insurance coverage to each employee as a tax free fringe benefit.

Both individual and group term life insurance coverage is offered through Transamerica.

If your employment is terminated, you may be able to convert your group term life insurance coverage to an individual permanent life insurance policy, which will cost you more money.

As two employees were from top management, their group term life insurance coverage was different from what was offered to the rest of 8 employees who were manual labors.

In order to extend group term life insurance coverage to new employees, it is necessary for the employer to pay the proportionate premium for the remaining part of the policy year

For dependent or spousal supplemental coverage, group term life insurance coverage is often capped at $ 100,000 per additional insured.

Any group term life insurance coverage offered by an employer that exceeds the base benefit is paid by the insured employee through paycheck deferrals.