Your employer is considering adding a group term life insurance plan to the employee benefit...

Question

Your employer is considering adding a group term life insurance plan to the employee benefit package. The premium cost would be fully paid by the organization. Explain how this will impact the employees' net pay and the employer's payroll costs.

Robert · Accepted Answer

Solution 
Group insurance benefit plans are defined as any type of insurance plans that provides benefit 
plans to members as one group. A company shares the financial risk of health related 
expenses among the group of employees, under one contract. When company has such plan,

Your employer is considering adding a group term life insurance plan to the employee benefit package. The premium cost would be fully paid by the organization. Explain how this will impact the...

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