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How are costs for an insurable interest election calculated?

April 26, 2017calculated costs election insurable

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How are costs for an insurable interest election calculated?

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The cost for an insurable interest election is considerably more expensive it is 10 percent of the gross retired pay plus an additional 5 percent for each full five years the beneficiary is younger than the retiree up to a maximum of 40 percent of your gross retired pay.Question 5.