The GTL meaning is Group Term Life Insurance. A company's payment to eligible employees is a benefit from a life insurance plan for which the company typically pays the premiums. If the employee dies while the insurance is in effect, the insurance company will pay a specific sum to a named beneficiary. GTL coverage of the first $50,000 is excluded from taxable income, but coverage of amounts above $50,000 is considered imputed income, and thus taxable income. This does not imply that the employee will get that in cash. Rather, the additional coverage is included in the taxable value of the insurance coverage.