Group Term Life at Life

Group Term Life. Statistics show that only 6 in 10 americans have life insurance and nearly half of them have insufficient coverage to address the financial needs of their family. Vfis of north carolina can help.

Although the fair market value of group term life insurance is subject to federal income tax, it is not subject to federal income tax withholding. Group term life is typically provided in the form of yearly renewable term insurance. The amount of your coverage is typically equal to one or two times your annual salary.

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Group term life insurance, as the name signifies, refers to a policy offered by an organization to cover a group of individuals i.e., all their employees under a single contract. Group term life insurance plans, as the name suggests, are designed to offer life insurance to a group of people under a single policy. When group term insurance is provided through your employer, the employer usually pays for most (and in some cases all) of the premiums. Gibraltar bsn group term life (gtl) is a group life insurance plan that helps in easing the financial burden of your employees and their loved ones in the event of death, tpd or critical illness.