What is Group Creditor Life Insurance?
Banks, finance companies, credit unions, retailers, and others may qualify for group life insurance on the lives of individuals who … Read more
Group Life Insurance
Can a Trade Association Offer Life Insurance to its Members?
Yes. Employers in the same type of business or industry can sponsor voluntary insurance plans for their members. For instance, … Read more
Can a Group Life Insurance Policy Include an Owner-Employee?
Yes. The employer may be a sole proprietorship, partnership, or close corporation. Employees eligible for coverage may include sole proprietors, … Read more
Ways to Solve the “Reportable Tax Income Cost” Problem with Group Life Insurance for Older Employees
It is true that a very substantial amount of income can be generated by group term life as the employee … Read more
Can Group Life Insurance be Used to Fund a Buy-Sell Agreement?
The use of group insurance to fund a buy-sell is generally not a sound idea. First, if the buyout price … Read more
How Large Employers (Over 1,000 Employees) Use Group Universal Life Insurance
Special tax treatment applies to small groups (i.e., groups insuring under ten lives). In under-ten group term life plans, premiums … Read more
The Special Tax Treatment Given to Small Employers (Under 10 Employees) with Group Life Insurance
Special tax treatment applies to small groups (i.e., groups insuring under ten lives). In under-ten group term life plans, premiums … Read more
Employer Tax Implications With Group Life Insurance
Premiums paid by the employer for group term life insurance are income tax deductible as ordinary and necessary business expenses … Read more
Gift and Estate Tax Considerations when Group Life Insurance Policy Benefits are Paid
Proceeds of group term life insurance are includable in the insured’s estate if they are payable to or for the … Read more
Employee Tax Implications when Group Life Insurance Policy Benefits are Paid
An employee does not have to report any income with respect to the first $50,000 of life insurance coverage provided … Read more