Compensation Glossary

# A B C D E F G H I J K L M N O P Q R S T U V W - Z

Group Universal Life Plan

A form of group life insurance that combines term protection for designated beneficiaries with an investment element for the policyholder, which can be used to create nontaxable permanent insurance or to accumulate tax-deferred capital. Participation is entirely voluntary and the employee pays all premiums.

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Group Term Life Insurance

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Guarantee

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