However, expenses reimbursed by this plan are NOT eligible for the tax credit. Employees should give careful consideration to the relative financial benefits of these options. The professional advice of a tax advisor would be very helpful in deciding which option to select. The employee may select life insurance in varying amounts. Life insurance covers the employee only.
Cost depends on the amount of coverage selected.
Accidental Death and Dismemberment may also be purchased for family members. Again, the cost depends on the coverage selected. You may elect the number of years you wish your beneficiaries to receive benefits. The number of years you elect determines the monthly benefit amount. Cost depends on the age of the employee.