Grace's employer is now offering group-term life insurance. The company will provide each employee with $210,000 of group-term life insurance. It costs Grace's employer $935 to provide this amount of insurance to Grace each year. Assuming that Grace is 50 years old, use the table to determine the monthly premium that Grace must include in income as a result of receiving the group-term life benefit.
Uniform Premiums for $1,000 of Group-Term Life Insurance Protection
Multiple Choice
$47.80. $36.80. $87.73. $0.
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Grace's employer is now offering group-term life insurance. The company will provide each employee with $210,000...
Grace's employer is now offering group-term life insurance. The company will provide each employee with $120,000...
Grace's employer is now offering group-term life insurance. The company will provide each employee with $120,000 of group-term life insurance. It costs Grace's employer $680 to provide this amount of insurance to Grace each year. Assuming that Grace is 37 years old, use the table to determine the monthly premium that Grace must include in income as a result of receiving the group-term life benefit. EXHIBIT 12-08 Uniform Premiums for $1,000 of Group-Term Life Insurance Protection 5-Year Age Bracket Cost...
DESTION 8 Manuel's employer provides him with $80,000 of group term life insurance coverage for the...
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JDD Corporation provides the following to its employee, Ahmed (age 50): Salary $ 339,000 Health insurance...
JDD Corporation provides the following to its employee, Ahmed (age 50): Salary $ 339,000 Health insurance 14,700 Dental insurance 2,100 Life insurance 3,900 Dependent care 4,200 Professional dues 1,310 Personal use of company jet 259,000 Assume the life insurance is a group-term life insurance policy that provides $294,000 of coverage for Ahmed. (Use EXHIBIT 12-8.) Assuming Ahmed is subject to a marginal tax rate of 32 percent, what is his after-tax benefit of receiving each of these benefits? (Enter all...
Creative Corporation has four employees and provides group term life insurance coverage for all four employees....
Creative Corporation has four employees and provides group term life insurance coverage for all four employees. Coverage is nondiscriminatory and is as follows: (Click the icon to view the Uniform One-Month Group Term Premiums for $1,000 of Life Insurance Coverage.) (Click the icon to view the data.) Read the fequirements. Requirement a. How much may Creative Corporation deduct for group term life insurance premiums? The amount Creative Corporation can deduct for group term life insurance premiums is Requirement b. How...
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19. Green, Inc, provides group term life insurance for all of its employees. The covernge equals...
19. Green, Inc, provides group term life insurance for all of its employees. The covernge equals twice the employee's anual salary. Sam, a vice president, worked all year for Green, Inc, and received $200,000 of coverage for the year at a cost to Green of $1,500. The Uniform Premiums (based on Sam's age) are S0.25 per month for $1,000 of protection. How much must Sam include in gross incomse this year? a. 50 b. $375 c. $450 d. $600 e....
Question 37 remaining letter. D) If a departing employee elects to convert a lofe insurance policy,...
Question 37 remaining letter.
D) If a departing employee elects to convert a lofe insurance
policy, the insurer must offer term insurance as one of the
choices.
34 If an insured commits suicide after the suicide clause in the insured's life insurance policy has expired, the insurer will take which of the following actions? a) Refuse to pay the death benefit or refund any premiums b) Refund only the premiums paid c) Refund the premiums paid plus interest d) Pay...
Felicia is covered by a $180,000 group term life insurance policy and her daughter is the beneficiary
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Joe and Maggie have life insurance through their employers equal to two times their annual salaries,...
Joe
and Maggie have life insurance through their employers equal to two
times their annual salaries, joe, age 37, has an annual salary of
$56,000 and Maggie, age 34, has an annual salary of $59,000. the
annual cost of the group term insurance is $20 for each employee?
Table 1 Rates for Group Term Insurance:
5-year age bracket | Cost/$1,000 insurance for
1 month period
Under 25
$0.05
25 to 29
$0.06
30 to 34
$0.08
35 to 39
$0.09...
DESTION 8 Manuel's employer provides him with $80,000 of group term life insurance coverage for the year at no cost. The amount from the group term life insurance premium table for someone who is 40 years old is $0.10. How much must Manuel include in income as a result of this benefit if he is 40 years old and is not considered a key employee? support
Creative Corporation has four employees and provides group term life insurance coverage for all four employees. Coverage is nondiscriminatory and is as follows: (Click the icon to view the Uniform One-Month Group Term Premiums for $1,000 of Life Insurance Coverage.) (Click the icon to view the data.) Read the fequirements. Requirement a. How much may Creative Corporation deduct for group term life insurance premiums? The amount Creative Corporation can deduct for group term life insurance premiums is Requirement b. How...
Understanding universal life insurance Universal life insurance combines elements from term and whole life insurance. Term policies provide a death benefit _______ savings component, whole life policies provide a death benefit _______ savings component, and universal policies provide a death benefit _______ savings component. To understand how universal premiums are allocated, consider the following example. Kathy is a 37-year-old lawyer who has taken out a universal life insurance policy to protect her two children (ages 8 and 6) in the...
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19. Green, Inc, provides group term life insurance for all of its employees. The covernge equals twice the employee's anual salary. Sam, a vice president, worked all year for Green, Inc, and received $200,000 of coverage for the year at a cost to Green of $1,500. The Uniform Premiums (based on Sam's age) are S0.25 per month for $1,000 of protection. How much must Sam include in gross incomse this year? a. 50 b. $375 c. $450 d. $600 e....
Question 37 remaining letter.
D) If a departing employee elects to convert a lofe insurance
policy, the insurer must offer term insurance as one of the
choices.
34 If an insured commits suicide after the suicide clause in the insured's life insurance policy has expired, the insurer will take which of the following actions? a) Refuse to pay the death benefit or refund any premiums b) Refund only the premiums paid c) Refund the premiums paid plus interest d) Pay...
Joe
and Maggie have life insurance through their employers equal to two
times their annual salaries, joe, age 37, has an annual salary of
$56,000 and Maggie, age 34, has an annual salary of $59,000. the
annual cost of the group term insurance is $20 for each employee?
Table 1 Rates for Group Term Insurance:
5-year age bracket | Cost/$1,000 insurance for
1 month period
Under 25
$0.05
25 to 29
$0.06
30 to 34
$0.08
35 to 39
$0.09...
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