Question 4017 of 287 · Texas Life, Accident and Health Agent Exam
The premium for group term life insurance provided by an employer is
Exactly one answer is correct.
You got of questions right. Here on the question pages nobody remembers which ones you got wrong. The trainer saves your progress and asks the mistakes again until they stick.
Or free: the 10 questions most people get wrong
Show solution
Correct answer to question 4017
- D: deductible by the employer, and the employee has taxable income only on coverage exceeding $50,000
Explanation
Employer-paid group term coverage up to $50,000 is a tax free fringe benefit. The cost of coverage over that amount is imputed income to the employee under IRS tables.
More questions: Life: Retirement and Other Insurance Concepts
- 4018Which of these is a Modified Endowment Contract rule for withdrawals and loans?
- 4019Under a non-MEC life policy, a withdrawal up to the owner's basis is
- 4020Investment growth in the cash value of a life insurance policy is generally
- 4001Third-party ownership of a life insurance policy means that
- 4002A life settlement is a transaction in which
- 4003In a contributory group life plan,