Group Carve-Out Plan

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Definition: Group Carve-Out Plan

Group Carve-Out Plan
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Full Definition of Group Carve-Out Plan

A specialized term life insurance plan that employers may offer to a select group of high-value employees (such as executives). The plan has several benefits over traditional group term life insurance for coverage amounts in excess of $50,000. It does not expire upon retirement, it builds cash value, and it is employee-owned and therefore readily portable. With some plans, the premium amount may also be locked in so it does not increase with age.

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https://payrollheaven.com/define/group-carve-out-plan/
Modern Language Association (MLA):
Group Carve-Out Plan. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 19, 2024 https://payrollheaven.com/define/group-carve-out-plan/.
Chicago Manual of Style (CMS):
Group Carve-Out Plan. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/group-carve-out-plan/ (accessed: April 19, 2024).
American Psychological Association (APA):
Group Carve-Out Plan. PayrollHeaven.com. Retrieved April 19, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/group-carve-out-plan/

Definition Sources

Definitions for Group Carve-Out Plan are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.