Cayden is an employee of FBG Corporation, with an annual salary of $60,000. Cayden’s employer provides $90,000 of group term life insurance. Cayden is required to contribute monthly $0.15 per $1,000 of coverage. The IRS Uniform Premium Table shows $0.60 as the monthly cost per $1,000 for the coverage. How much is included in Cayden’s annual gross income for the benefits received from the employer’s group life insurance coverage?

$153.

$126.

$0.

$288.

Answer rating: 100% (QA)

solution As per Irs Group term life insurance provided by employer is taxed as imp... View the full answer