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Insurance - Life Insurance Benefits, #101 Summary Life insurance is one of the most common employer-provided benefits. It is especially popular with employees who have dependents and with older employees who may have difficulty getting reasonably priced life insurance elsewhere. According to a government survey of small businesses (those with fewer than 100 employees), 62 percent of employees participated in life insurance plans provided by their employers. …

Insurance - Disability Insurance, #102 Summary Disability insurance pays benefits when an employee is unable to stay on the job due to an illness or injury. Most disability policies pay a benefit that replaces part of the insured’s earned income (usually 50% to 70%) when the insured cannot work. If an employee falls down the stairs and breaks an ankle but can still work and earn the same amount of money earned before the accident, the employee will not receive…

Insurance - Casualty or Theft Losses, #103 Summary If you or your business suffers damage or loss from an accident, theft, storm, fire, etc., you may be able to claim a tax deduction. The tax treatment of casualty or theft losses depends on the purpose for which you held the property, among other things. Casualty losses can result from the destruction of or damage to your property from any sudden, unexpected, or unusual event such as a flood, hurricane, tornado, fire, or…