| As we mentioned in other articles, many corporations | | | | different amounts of insurance may be provided for |
| will offer competitive packages, and that's even a | | | | different employees according to earnings level and |
| strategy in hiring and retaining employees. These | | | | position in the company. |
| competitive packages include group insurance to plans | | | | Often the life insurance benefit will be one, two or |
| that provide individual retirement accounts or traditional | | | | even three times the earnings. The contract will usually |
| registered pension plans, etc. In this article, we will | | | | contain a non-evidence limit and a maximum amount |
| discuss benefits, survivor's benefits and taxation of | | | | that the insurance company will issue. |
| group insurance. | | | | 2. Survivor's benefits |
| 1. Group benefits For employers and employeesa) | | | | Generally, The contract may contain a survivor's |
| Coverage benefits such as dental care, life insurance, | | | | benefit of 25% or more of the deceased employee's |
| medical care, life and disability for employees and their | | | | salary, plus an extra percentage for each dependent |
| families.b) Immediate access to low lost insurance than | | | | child. Remarriage of the surviving spouse will generally |
| is available individually.c) The premium is tax | | | | eliminate the benefit. |
| deductibled) Enhancing the likelihood of staff | | | | 3. Taxationa)The employer's contributions are business |
| retention.e) Increasing the employee morale and loyalty. | | | | expense and tax deductibleb) The employee receives |
| Group Insurance benefits must not discriminate | | | | them as a taxable benefit and contribution of |
| between employees but a different schedule can | | | | employees are not tax deductible. |
| apply to different classes of employees. As such, | | | | I hope this information will help. |