Copyright

Tax Treatment of Group Life Insurance

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which rule describes an employer arranging a group life insurance plan so that some employees subsidize other employee's costs?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. How are group life insurance dividends taxed?

2. If an employer is considered to carry a group life insurance policy, how is any amount of coverage beyond $50,000 for an employee in 2016 taxed?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

The questions contained in this assessment will test your knowledge of group life insurance taxation, including topics like the taxation of group life dividends and the structure of group life insurance policies.

Quiz & Worksheet Goals

You'll be tested on the following concepts:

  • Term that describes the type of employer group life insurance plan where some employees subsidize other employee's costs
  • How group life insurance dividends are taxed
  • Tax method for coverage beyond $50,000 when an employer carries a group life insurance policy for an employee in 2016
  • Fact about taxation of group life insurance premiums
  • How a non-carried group life insurance policy works

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about group life insurance plans
  • Interpreting information - verify that you can read information regarding how group life insurance dividends are taxed and interpret it correctly
  • Information recall - access the knowledge you've gained regarding how a non-carried group life insurance policy works

Additional Learning

To take a closer look at this topic, review the related lesson titled Tax Treatment of Group Life Insurance. This lesson covers the following:

  • Premiums and dividends
  • Tax assessments on policies
  • Policy structure
Support