Calculate the value of the life insurance policy


Ursula is employed by USA Corporation. USA Corporation provides medical and health, disability, and group term life insurance coverage for its employees. Premiums attributable to Ursula were as follows: Medical and health: $3,600 Disability: $300 Group term life (face amount is $40,000): $200 During the year, Ursula suffered a heart attack and subsequently died. Before her death, Ursula collected $14,000 as a reimbursement for medical expenses and $5,000 of disability income. Upon her death, Ursula's husband collected the $40,000 face value of the life insurance policy.

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Accounting Basics: Calculate the value of the life insurance policy
Reference No:- TGS0712284

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