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Question 44 (1.5 points) Margaret has life insurance through her employer equal to three times her annual salary. She is 42 years old and has
Question 44 (1.5 points) Margaret has life insurance through her employer equal to three times her annual salary. She is 42 years old and has an annual salary of $100,000. The annual cost of the group term insurance is $50 for each employee. What is the taxable amount of coverage for her? Table 1 Rates for Group Term Insurance Cost/$1,000 5-year age bracket insurance for 1 month period Under 25 $0.05 25 to 29 $0.06 30 to 34 50.08 35 to 39 $0.09 40 to 44 $0.10 45 to 49 $0.15 50 to 54 $0.23 55 to 59 $0.43 60 to 64 $0.66 165 to 69 $1.27 170 and above $2.06 $250,000 $50,000 $100,000 $150.000
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