Retirement and Other Insurance Concepts
Under IRC Section 79, up to what amount of employer-provided group term life insurance coverage is received completely tax-free by an employee?
Answer and explanation
Answer: B. IRC § 79 excludes the cost of up to $50,000 of employer-provided group term life insurance from employee gross income.Source: IRS Publication 15-B — Group-Term Life Insurance Exemption
More retirement and other insurance concepts questions
- Under Social Security survivor benefits rules, what is the 'blackout period' for a surviving spouse?
- Under Texas Insurance Code § 1251.001 & § 1131.051, what minimum number of employees must participate in an employer-sponsored noncontributory group life insurance plan?
- Under the human life value approach, what is being measured?
- Under TIC § 1131.051, what minimum participation requirement applies to a CONTRIBUTORY group life insurance plan where employees pay part of the premium?
- What conditions must be met for a Roth IRA distribution of earnings to qualify as 100% tax-free?
- What conversion right do covered children have when reaching the age limit under a family rider?
590 Texas questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.