What does Section 79 Plan mean? Read on to discover the definition & meaning of the term Section 79 Plan - to help you better understand the language used in insurance policies.
Section 79 Plan
A section 79 plan is a type of life insurance that is offered as a benefit to employees. This type of life insurance coverage is desirable because the premiums are entirely tax deductible for the business as long as the value of the insurance is less than $50,000 per employee.
We hope the you have a better understanding of the meaning of Section 79 Plan.