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Is Basic Life Insurance and Standard Life Insurance considered Group Term Life Insurance

Joined: 2 years ago
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I have employer paid basic $16,250 or $25,000 coverage and standard life $38,000 or $250,000 coverage, paid by employer for employees. Do I process this like Group term life insurance? If so, am I taking the total of both basic and standard when considering the taxable on what exceeds $50,000? Or is it individually?


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