What Is Excess Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Excess Life Insurance is the amount of life insurance that you have through your place of employment that exceeds $50,000. The first $50,000 is generally not taxable to the employee. The "excess" of coverage beyond that first $50,000 must be reported to the IRS as income, minus any after tax premiums paid by the employee.
    Answered on June 22, 2013
    flag this answer
    2. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>