Some of these materials are not normally combustible, but they can burn or explode if the particles are the right size and in the right concentration. Therefore any activity that creates dust should be investigated to see if there is a risk of that dust being combustible.
by Merck & Co., Inc. âBasic Life Insuranceâ means life insurance provided to an Eligible Employee under a plan sponsored by Parent or a subsidiary of Parent equal to 1x base pay as defined under the life insurance plan in which the Eligible Employee participates, as it may be amended from time to time. 8.3.
Premiums paid for group life insurance coverage up to $50,000 are not considered income to the employee and are entirely deductible by the employer as an ordinary business expense. For coverage amounts over $50,000, a portion of the premiums paid by the employer are considered income to the employee. Using the Uniform Premium Table in IRC Section 79, the dollar amount added to the worker's taxable income is calculated based on the employee's age and the size of the life insurance policy.