BREAKING DOWN 'Group Term Life Insurance' Group term life insurance is a group benefit offered to employees who meet eligibility requirements, such as being a permanent employee or 30 days after hire.
Premiums you pay for employees' group life insurance that is not group term insurance or optional dependent life insurance are also a taxable benefit. A group term life insurance policy is one for which the only amounts payable by the insurer are policy dividends, experience rating refunds, and
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Dec 29, 2017 You can view the Premium Table in the groupterm life insurance discussion in Publication 15B. Because the employer is affecting the premium cost through its subsidizing andor redistributing role, there is a benefit to employees.