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Group Life

Group life insurance is a relatively inexpensive benefit that employers can provide for their employees. Group Life plans can be set up in different ways. An employer could choose a flat benefit amount or design the plan as a multiple of salary. For example, the plan could offer each employee a $10,000 benefit or it could be set up as 2 times salary.

It is important to note that all death benefits received from a group life plan are tax free benefits.