Group Term Life Insurance Definition

Filter Type: All Time Past 24 Hours Past Week Past monthFacebook Share Twitter Share LinkedIn Share Pinterest Share Reddit Share E-Mail Share

Listing Results group term life insurance definition

Group Term Life Insurance Definition

Group Investopedia.com Show details

6 hours agoGroup term life insurance is a type of term insurance in which one contract is issued to cover multiple people. The most common group is a company, where the contract is issued to the employer who

Preview

What is group life insurance 36 People Used Show more

Group Term Life Insurance: What You Need To Know

Group Investopedia.com Show details

Just NowGroup term life insurance is an employee benefit that’s often provided for free by employers. Employees may also have the option to buy additional coverage through payroll deductions. The first

Preview

Basic group term life insurance 48 People Used Show more

What Is Group Term Life Insurance? Definition From

What Insuranceopedia.com Show details

3 hours agoGroup term life insurance is a life insurance policy that is offered to employees of a company or members of an organization. In most cases, the employer pays all or a portion of the premium, or membership in the organization provides a premium discount. Advertisement Insuranceopedia Explains Group Term Life Insurance

Preview

Group life insurance policy definition 52 People Used Show more

Group Term Life Insurance Definition And Benefits

Group Lifeinsurance.org Show details

Just NowGroup term life insurance is a type of life insurance provided by an employer or association to employees or beneficiaries. This type of insurance policy typically is less expensive than other forms of life insurance, as the employer often covers most or all of the premium.

Preview

Group term life insurance rules 50 People Used Show more

Group Term Life Insurance Financial Definition Of Group

Group Financial-dictionary.thefreedictionary.com Show details

6 hours agoGroup Term Life Insurance Life insurance coverage purchased by an employer for a group of employees. Such insurance is renewable on a year-to-year basis and does not accumulate in value; that is, no cash surrender value is built up.

Preview

Group life insurance policy 56 People Used Show more

Definition Of Group Term Life Insurance In Insurance

Insurance Realestateagent.com Show details

3 hours agoDefinition of "Group term life insurance" One-year coverage that is renewable at the end of each year. Since the group plan is subject to experience rating, the premium rate upon renewal is based on such factors as the loss record (death) of the group and range of employee ages. All employees are insured with term life insurance.

Preview

Group term life insurance plan 52 People Used Show more

Group Term Life Insurance Plan Definition Law Insider

Group Lawinsider.com Show details

8 hours agoGroup Term Life Insurance Plan means group termlife insurance benefit option offered to Participants by the Employer as elected under Item IV of the Adoption Agreement. Sample 1 Based on 1 documents Remove Advertising Group Term Life Insurance Plan means the City of Davis Group Term Life Insurance Policy, as amended from time to time.

Preview

Life Healthcare Mens Health 54 People Used Show more

What Is Group Life Insurance? Definition From

What Insuranceopedia.com Show details

8 hours agoGroup life insurance is life insurance that is offered to a group and is usually offered by companies or other large organizations. Many companies offer life insurance to their employees in the form of group life insurance as part of a benefits package to generate incentive for employees to work for the company. Advertisement

Preview

Life Healthcare Mens Health 47 People Used Show more

What Is Term Life Insurance? RamseySolutions.com

What Ramseysolutions.com Show details

9 hours agoTerm life insurance (also called pure life insurance) is a type of life insurance policy that lasts for a set number of years, or term. If you die before the term is over, the insurance company will pay the death benefit (also called payout ). If you die after the term is over, the insurance company doesn’t pay. Pretty simple.

Preview

Life Healthcare 49 People Used Show more

GROUP LIFE INSURANCE DEFINITION AND GROUP LIFE …

GROUP Content.naic.org Show details

9 hours agoGROUP LIFE INSURANCE DEFINITION AND. GROUP LIFE INSURANCE STANDARD PROVISIONS MODEL ACT. Table of Contents. Section 1. Group Life Insurance Definition . Section 2. Limits of Group Life Insurance or all of any class or classes thereof. The policy may provide that the term “employees” shall include the employees of one or more subsidiary

Preview

Life Healthcare Vision Healthcare 50 People Used Show more

Easy Guide To Groupterm Life Insurance Tax Table & Example

Easy Patriotsoftware.com Show details

9 hours agoGroup-term life insurance, or group life insurance, is an insurance policy that covers a group of people, like employees in a business, rather than individuals. So, how does group-term life insurance work? Like an individual life insurance policy, group life insurance pays out benefits to an employee’s beneficiaries if the employee dies.

Preview

Life Healthcare 63 People Used Show more

Group Definitions.uslegal.com Show details

Just NowGroup term life (GTL) is employer- provided life insurance coverage. The premium for coverage in excess of $50,000 is taxable and must be reported as additional income on an employee's Form W-2. 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.

Preview

Life Healthcare 55 People Used Show more

What Is Group Life Insurance? Equitable

What Equitable.com Show details

5 hours agoGroup life insurance is a type of life insurance in which a single contract covers an entire group of people. Typically, the policy owner is an employer or an entity such as a labor organization, and the policy covers the employees or members of the group. Group life insurance is often provided as part of a complete employee benefit package.

Preview

Life Healthcare 40 People Used Show more

Group Life Insurance Insurance Glossary Definition

Insurance Irmi.com Show details

8 hours agoDefinition Group Life Insurance — a life insurance program that covers members of a natural group, such as employees of a business or members of a union, association, or employer group. A group life insurance plan usually offers annual renewable term life insurance policies, but some plans provide permanent life insurance policies.

Preview

Life Healthcare 52 People Used Show more

Group Life Insurance Life Insurance Glossary Definition

Life Sproutt.com Show details

9 hours agoGroup term life insurance premiums. One of the major perks about this employment benefit is that your employer usually heavily —or even entirely — subsidizes your group term life insurance rates. In some cases, you might pay $0 out-of …

Preview

Life Healthcare Mens Health 57 People Used Show more

What Is Group Term Life Insurance? Crystal & Company

What Crystalco.com Show details

8 hours agogroup term life insurance, then the cost of the insurance in excess of $50,000 {minus any amounts paid post-tax by the employee) is included in the employee's gross income. This is referred to as "imputed income." For purposes of determining the employee's tax liability, an employee uses the total coverage amount

Preview

Life Healthcare 57 People Used Show more

Group Group Term Life Insuranceterm Life Insurance

Group The-definition.com Show details

9 hours agoGroup term life insurance is a most common form of group life insurance.Yearly renewable term insurance on employees during their working careers.

Preview

Healthcare Careers Life Healthcare 50 People Used Show more

Group Term Life Insurance Definition? Answers

Group Answers.com Show details

2 hours agoGroup term life insurance is a one year coverage that is renewable at the end of each year. The group plan is subject to experience rating, so the premium rate upon renewal is based on such

Preview

Experience Health Life Healthcare 46 People Used Show more

Group Term Life Insurance Policygenius

Group Policygenius.com Show details

5 hours agoGroup life insurance, also called group term life insurance, is one life insurance contract that covers a group of people. Employers commonly offer it as part of a benefits package: 60% of non-government workers had access to employer-provided life insurance in 2021. [1] Group policies are easy to qualify for and affordable, but they rarely …

Preview

Life Healthcare Mens Health 39 People Used Show more

Group Definitions.uslegal.com Show details

Just NowGroup Term Life insurance Law and Legal Definition. Group term life insurance is a type of life insurance that is offered at a group rate, usually as part of an employee benefit program. It is the least expensive and least complicated type of life insurance, and is designed to provide cash benefits. The main advantage of group term life

Preview

Cats Health Life Healthcare 51 People Used Show more

Group Term Life Insurance

Group Apps.irs.gov Show details

4 hours agoGroup Term Life Insurance. If your former employer provided more than $50,000 of group-term life insurance coverage during the year, the amount included in your income is reported as wages in box 1 of Form W-2. Also, it is shown separately in box 12 with code C. Box 12 also will show the amount of uncollected social security and Medicare taxes

Preview

Life Healthcare Medicare Health 25 People Used Show more

Calculating Group Term Life Insurance Help Centers

Group Wiki.acstechnologies.com Show details

5 hours agoGroup-term life insurance is a term life insurance protection for a fixed time. Amounts provided to an employee that are more than $50,000 must be reported by the employer as part of the employee's wages. These amounts are included as wages in boxes 1 (Wages, tips, other compensation), 3 (Social Security wages), and 5 (Medicare wages and tips

Preview

Life Healthcare Medicare Health 51 People Used Show more

Group Permanent Life Insurance Insurance Glossary

Insurance Irmi.com Show details

8 hours agoDefinition. Group Permanent Life Insurance — a group life insurance plan where participants may choose permanent life insurance coverage in addition to or instead of term life insurance. Under a group permanent life insurance plan, the participants have a vested interest in the increments of paid-up insurance purchased.

Preview

Life Healthcare Mens Health 51 People Used Show more

Term Life Insurance Wikipedia

Term En.wikipedia.org Show details

9 hours agoTerm life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term.

Preview

Life Healthcare Mens Health 30 People Used Show more

What Is Group Insurance Definition By HDFC Life

What Hdfclife.com Show details

6 hours agoGroup Insurance - Definition & Meaning. Group Insurance covers a defined group of people, for example members of a professional association, or a society or employees of an organization. Group Insurance may offer life cover, health cover, and/or other types of personal insurance. Most insurance companies in India have introduced group insurance

Preview

Life Healthcare Personal Healthcare 48 People Used Show more

Understanding Life Insurance Conversion & Portability

Life Blog.nisbenefits.com Show details

Just NowPortability. Portability allows an employee to convert their group term life insurance policy to a personal term life insurance policy. Term life insurance provides coverage for a certain time period (“term”), and the employee would submit premium payments directly to the carrier. Like a converted policy, employees are eligible for

Preview

Life Healthcare Mens Health 57 People Used Show more

The Basics Of Group Life Insurance Insure.com

The Insure.com Show details

3 hours agoThe basics of group life insurance. group life insurance is a benefit offered by groups to their members — most commonly by employers to their workers. With a group life insurance policy, the insurance contract is between the group and the insurance company, and the participating group members receive certificates of coverage. More than half

Preview

Cats Health Life Healthcare 46 People Used Show more

What Is Voluntary Life Insurance & How Does It Work In 2022?

What Simplyinsurance.com Show details

7 hours agoTerm life insurance is the most common life insurance policy and lasts for a fixed amount of years. In the case of basic life insurance, the employer pays all the costs. However, basic life insurance programs usually cap coverage at $25,000 or $50,000.

Preview

Life Healthcare 64 People Used Show more

I Was Looking At My Paycheck And Saw GTL. What Is This

Was Littlebirdsupport.zendesk.com Show details

5 hours agoIf you see GTL which stands for Group Term Life on your paycheck, it means your employer has elected this organization-wide benefit that essentially pays your beneficiaries a portion or full amount of your annual salary. This is a taxable benefit (FICA taxes Medicare & Social Security) for any earnings over $50,000/year. If you make over

Preview

Life Healthcare Medicare Health 55 People Used Show more

What Is Dependent Life Insurance & How It Works In 2021?

What Simplyinsurance.com Show details

7 hours agoYou could have a group life policy through work, an individual term life policy outside of work, and a whole life insurance policy with a different company. It’s even possible to have two separate term life policies with varying lengths of terms with the same company.

Preview

Life Healthcare 60 People Used Show more

Basic Life Insurance: What Is It? The Balance

Basic Thebalance.com Show details

5 hours agoBasic life insurance is a type of group life insurance that is provided to employees at no or very low out-of-pocket cost. Insured individuals can expect that their beneficiaries will receive a limited and predetermined death benefit if the policyholder passes away during the coverage term. Understanding what basic employer-sponsored life

Preview

Life Healthcare 46 People Used Show more

Benefits Fringe Tax Guide To Page 1 Of 34 16:10 10Dec

Benefits Irs.gov Show details

Just NowGroup⁠-⁠Term Life Insurance Coverage. Health Savings Accounts. Lodging on Your Business Premises. Meals. Definition of marriage. A marriage of two individuals is recognized for federal tax purposes if the marriage is rec-ognized by the state, possession, or territory of the United

Preview

Healthy Meals Life Healthcare 55 People Used Show more

What Is Supplemental Life Insurance? NerdWallet

What Nerdwallet.com Show details

2 hours agoMost supplemental life insurance policies through work are group term life insurance, and coverage is conditional on your employment. However, depending on the policy’s “portability,” you

Preview

Life Healthcare Mens Health 48 People Used Show more

Group Life Insurance The Standard

Group Standard.com Show details

Just NowThe amount of group Life insurance which ended, minus other group Life insurance for which the employee is eligible, and • The maximum conversion amount allowed by law as shown in the group policy. Repatriation Benefit. The Standard typically includes the Repatriation Benefit . with every group Life insurance policy. This provides an

Preview

Life Healthcare 34 People Used Show more

IRDA Group Insurance

IRDA Policyholder.gov.in Show details

2 hours agoA group insurance policy gives you advantages of standardised coverage and very competitive premium rates. You can avail of group insurance policies that a group you belong to takes. Groups – for this purpose - can be employer-employee groups or non employer-employee groups as defined by IRDA’s group insurance guidelines.

Preview

Healthy Care 21 People Used Show more

Consumer Glossary National Association Of Insurance

Consumer Content.naic.org Show details

2 hours agoTerm Insurance - life insurance payable only if death of insured occurs within a specified time, such as 5 or 10 years, or before a specified age. Third Party - person other than the insured or insurer who has incurred losses or is entitled to receive payment due …

Preview

Life Healthcare Mens Health 53 People Used Show more

What Is An Increasing Term Life Insurance Policy?

What Retireguide.com Show details

5 hours agoIncreasing term is a type of term life insurance, which means it lasts for a specific period, such as 10, 20 or 30 years.. If you die during this time, your beneficiary receives a death benefit from the life insurance company.If you …

Preview

Life Healthcare 49 People Used Show more

What Is The Best Definition For Group Life Insurance? Quora

What Quora.com Show details

4 hours agoAnswer (1 of 2): Try this site where you can compare quotes: //insurancetocompare.info/index.html?src=compare// RELATED Insurance for unregistered cars? I …

Preview

Life Healthcare 60 People Used Show more

IRAS Tax Treatment Of Business Expenses (GL)

IRAS Iras.gov.sg Show details

1 hours agoGroup term life insurance policy where employees are the intended beneficiaries, either because the employees are the named beneficiaries or there is a contractual obligation for the employer to pass the payout to the employees or their next-of-kin.

Preview

Life Healthcare Mens Health 45 People Used Show more

Group Insurance Policy Best Group Insurance Schemes

Group Iciciprulife.com Show details

5 hours agoFor this, we present ICICI Pru Group Term Plus, a plan that gives the benefit of Life Cover to a group of individuals. This plan provides benefits not only to Formal (employer-employee) but also to Informal (non-employer-employee) groups at a nominal cost. These groups include micro-finance institutions, non-banking financial institutions

Preview

Life Healthcare 53 People Used Show more

What Is Optional Term Life Insurance? Insure.com

What Insure.com Show details

5 hours agoTerm life covers you for a certain number of years and does not have any cash value. You can’t withdraw money or take out a loan from the policy’s cash value the way you can with permanent life insurance, such as whole life. The opportunity to purchase optional term life has advantages. You can buy the coverage at group rates, and you

Preview

Life Healthcare 49 People Used Show more

Group Term Life Insurance: Employee Life Insurance Policy

Life Pnbmetlife.com Show details

Just NowPNB MetLife Group Term Life Plus is a one-year renewable group term assurance plan wherein 100% face amount per member is payable on death of the member upon renewal. PNB MetLife Group Term Life Plus ensures that it: Provides protection for family of the employee. Offers a more efficient way to meet the statutory EDLI requirement.

Preview

Beauty Face Life Healthcare 58 People Used Show more

Features And Benefits Of Group Life Insurance

Features Policybazaar.com Show details

Just NowTerm policy – If a member of the group life insurance plan dies, the sum assured will be paid to the nominee of the member. Savings plan – Group Savings Plans can be used to accumulate wealth over a period of time.

Preview

Life Healthcare 45 People Used Show more

What Is Life Insurance? Exact Definition & Meaning Of Life

Life Aegonlife.com Show details

7 hours agoLife Insurance is defined as a contract between the policy holder and the insurance company, where the life insurance company pays a specific sum to the insured individual's family upon his death. The life insurance sum is paid in exchange for a specific amount of premium. Life is beautiful, but also uncertain.

Preview

Life Healthcare 63 People Used Show more

Life Insurance Riders: Different Types Explained

Life Policygenius.com Show details

5 hours agoRiders offer supplemental coverage to your life insurance policy and accommodate unexpected events that aren’t built into your policy. Some common types of life insurance riders — like the term conversion rider, are included for free.But most others cost extra. Oftentimes, a standalone insurance policy is going to offer more coverage than a rider …

Preview

Life Healthcare Mens Health 49 People Used Show more

ISU Plan Life Insurance University Human Resources

ISU Hr.iastate.edu Show details

9 hours agoPolicy Benefits. Term life insurance and thus does not provide for a cash surrender value. Two group life options to choose from: Two (2) times your University annual budgeted salary rounded to the nearest $1,000 (capped at $250,000) $50,000 policy. There is waiver of continued premium payments in the event of total disability.

Preview

Life Healthcare Mens Health 52 People Used Show more

Popular Search

Frequently Asked Questions

What are the different types of term life insurance policies?

Of the many different types of life insurance available to consumers, term life insurance is generally regarded as the most inexpensive of the lot. In general, a life insurance policy pays a monetary benefit to the named beneficiary upon the death of the insured. Popular types of insurance include: whole life, variable life, and term life.

What is basic group term life insurance?

The Basic Group Term Life Insurance Program is a State-paid benefit provided for managerial, supervisory, confidential, and other specified, excluded employees.

What does group term life insurance mean?

Group term life insurance is a group benefit offered to employees who meet eligibility requirements, such as being a permanent employee or 30 days after hire.

Is term insurance the most expensive type of life insurance?

Whole life insurance is considered to be the most expensive type of life insurance. Its premiums can be as much as five to 10 times more expensive than term life insurance premiums.

Trending Now