Group Term Life (GTL) insurance is a imputed income, company paid benefit. Employees do not pay for the benefit, but they are taxed on the coverage.
Each paycheck you will see your earnings increased by the imputed income values, Payroll Taxes are applied, and then the same amount is deducted because it is not a true earning.
Group Term Life is considered a "Fringe Benefit", which means employers are required to follow Federal Income Tax Laws on Fringe Benefits. The offset of that tax deduction is under your Earnings section in LG4Me.