Group Term Life Insurance Estimator

Employers and Employees can use this Estimator to calculate an estimate of how much their Group Term Life Insurance Premium is added to their taxable earnings each check. *WARNING! Results are estimates, not guarantees.* By pressing the button below, you are agreeing to Workforce 2080's Privacy Policy as well as Workforce 2080's Terms Of Use.

Last Updated 12/28/2023 @ 11:04 PM CDT

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Does the employer provide a set flat amount of Term Life Insurance for the employee? Example: The employer gives every employee $200,000 of Term Life Insurance Coverage.

YesNo

How much coverage does the employer give the employee?

Select how the employee is paid below:

HourlySalary

What is your hourly rate?

What is your annual salary?

Do you know how much coverage the employer provides the employee? Ex: My employer provides me with 3x's my annual salary.

YesNo

How much coverage does the employer provide the employee? Ex: My employer provides me 3x's my annual salary.

How often does the employee get paid?

WeeklyBiweeklySemi-MonthlyMonthly

How old will you be this year?

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Group Term Life Insurance Calculation Page

This page was last updated on 12/28/2023 @ 11:05 PM CDT

The employees total Group Term Life Insurance Premium added to the employees taxable wages for the year would be:

$

The employees total Group Term Life Insurance Premium added to the employees taxable wages each pay period would be:

$

**The above number is an estimation and should only be used as a reference point. Questions regarding the amounts you are paid, deducted, or taxed should all be brought to your employer for further clarification. Workforce 2080 provides these estimations to assist employees and employers determine a rough estimation of what taxes, payments, or deductions *could* be. These estimations should not be construed as implict or explicit guarantees in any way. Many factors come into play, such as rounding of figures in Payroll Software, errors in the submission through this portal etc. Workforce 2080 assumes no risk with these estimations and provides these tools to help educate the general population. All users who use these products and estimators outside of their intended use assume risk when used outside of the scope of educational and general knowledge.

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