Salary continuation plans are funded with individual disability income insurance. In most cases, the policies are owned by the covered employee, and the premiums are paid by the employer. Premiums used to pay for policies covering employees under an "employer-paid" salary continuation plan are deductible by the employer and are not considered income to the employee. However, benefits received are taxable income to the employee at claim time. Alternate insurance payment methods are discussed later.
For more information about salary continuation, please see the Salary Continuation Sales Guide (Form 8801).
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