Employers participating in the Farm Credit Foundations Benefit Plans offer life insurance coverage for employees and their family members.

• Basic Employee Term Life (employer paid)
• Optional Basic Employee Term Life (employee paid)
• Group Universal Life (GUL)

Basic Employee Term Life insurance is an employer provided benefit that is automatically given to benefit eligible employees at one times eligible earnings, up to the plan's maximum of $1,500,000.

Is Term Life Taxable?
Under current tax law, insurance provided by your employer is tax-free up to $50,000 per year. The IRS requires you to pay taxes on the value of any employer-provided coverage over $50,000, called imputed income. This imputed income is included as taxable wages each pay period (and will be included as earnings for tax-purposes).

Optional Basic Employee Term Life
Life insurance for yourself that is one times your eligible earnings, up to a maximum of $1,500,000, combined with Basic Employee Term Life.

Child(ren) Term Life
Available for dependent children. Coverage is in increments of $5,000 up to $25,000.

Group Universal Life Insurance
Additional life insurance you may purchase for yourself and your spouse. It also provides the opportunity to contribute to an interest-earning savings account.

• Employee Coverage
• Spouse Coverage