Question: how to calculate gtl premium?
Answer: Determine excess (Value of GTLI - $50,000 allowable) - $75,000 - $50,000 = $25,000 (excess) Divide the excess amount by 1,000 - $25,000 /$ 1,000 = 25. Multiply the result of #2 by the age value in the table below - 25 x $0.10 = $2.50.