George is 34 years old. His employer provides him with $200,000 of group term life insurance as a fringe benefit. The policy costs his employer $25 per month. How much income does George have for the year if?
a. The benefit is provided on a nondiscriminatory basis?
b. The benefit discriminates in favor of key employees, but George is not a key employee?
c. The benefit discriminates in favor of key employees and George is considered a key employee?

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The Answer of George is 34 years old. His employer provides him with $200,000 of group term life insurance as a fringe benefit. The policy costs his employer $25 per month. How much income does George have for the year if?
a. The benefit is provided on a nondiscriminatory basis?
b. The benefit discriminates in favor of key employees, but George is not a key employee?
c. The benefit discriminates in favor of key employees and George is considered a key employee?

George Is 34 Years Old