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- Group Life Insurance
- Group Life Insurance, is a Basic employee
benefit under which an employer buys a
master policy and issues certificates to
employees denoting participation in the plan.
associations. Is a policy that is offered to a
group of people under a master policy and
which does not require medical examinations.
Premiums paid by the employer are a tax
deductible business expense, they are not
taxable income to employees. It is usually
issued as yearly renewable term insurance
although some provide permanent insurance.
Employers may pay all the cost, or share it with
employees.
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