Grace's Employer Is Now Offering Group-Term Life Insurance

Grace's employer is now offering group-term life insurance. The company will provide each employee with $165,000 of group-term life insurance. It costs Grace's employer $815 to provide this amount of insurance to Grace each year. Assuming that Grace is 53 years old, use the table to determine the monthly premium that Grace must include in income as a result of receiving the group-term life benefit. Uniform Premiums for $1,000 of Group-Term Life Insurance Protection:

A) $0
B) $26.45
C) $35.85
D) $74.34

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free