Employer Provided Life Insurance at Life

Employer Provided Life Insurance. Does your employer provide you with group term life insurance? Most employers work with only one insurance carrier, which further limits your policy options.

However, if group term life insurance is part of your benefit package, and the coverage is higher than $50,000, there may be undesirable income tax implications. On the contrary, in the second scenario, life insurance coverage provided by the employer will be suitable for you, as you are. So, if your employer offers you life insurance, by all means, take it!

Free Employer Training Our Driving Concern

However, if group term life insurance is part of your benefit package, and the coverage is higher than $50,000, there may be undesirable income tax implications. Tax on income you don’t receive The recommended amount of life insurance is 10x your annual salary. Most employers work with only one insurance carrier, which further limits your policy options.