There are circumstances under which an employee may elect or be reassigned to a position in a lower salary band. When an employee is reassigned to a job in a lower salary band on an involuntary basis, the employeeâs salary may be decreased to reflect the responsibilities of the new job. The supervisor and Human Resources will discuss salary implications in advance of the employeeâs change in position.
Term life insurance covers a person for a fixed term, usually 10 or 20 years, though some companies offer term policies in one-year increments from three to 30 years. Whole life insurance, by contrast, provides coverage from the day a person takes out the policy until the day he dies.
Employees and Officers. Life insurance premiums paid by your company on policies where the life insured is an employee or an officer of the company, and where your company is not a direct or indirect beneficiary under the contract, are deductible.ife insurance premiums paid by your company on policies where the life insured is an employee or an officer of the company, and where your company is not a direct or indirect beneficiary under the contract, are deductible.