Life insurance is a popular and relatively inexpensive
employee benefit. Group term life insurance is the least expensive
form of life insurance coverage. Employers can enhance the benefit
by letting employees purchase additional insurance at group rates.
A number of design issues arise when providing life insurance benefits
including how much coverage to offer, how to divide premium costs
between the employer and employees, and whether to allow dependent
coverage. Group term life insurance also offers a tax advantage as
the first $50,000 in employer-paid coverage is tax-free to the employee.
Summary for [Your State]