To amend the Internal Revenue Code of 1986 to increase the dollar limitation on employer-provided group term life insurance that can be excluded from the gross income of the employee.

Group Term Life Insurance Increase Act of 201 7 This bill amends the Internal Revenue Code to increase the limit on the amount of employer-provided group term life insurance that an employee may exclude from his or her gross income for income tax purposes. Currently, an employee may exclude from gross income up to $50,000 of the cost of such insurance plus any amount paid by the employee for the purchase of such insurance. The bill increases the $50,000 limit to $375,000, and adjusts such increased limit for inflation in taxable years beginning after 2018.