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the next arrangement well look at is the promissory note arrangement its a little bit more complicated but it is more tax efficient with the promissory note arrangement the corporation is now going to buy the life insurance on each of Jill and Steve that means were paying for the life insurance with the corporations after tax dollars rather than Jill or Steves after tax dollars thats generally going to result of cost savings of about 20 to 25 percent so that alone is a win right from the beginning with the promissory note arrangements okay now lets say that Steve dies the death benefit will be paid to the corporation as the beneficiary of that life insurance policy and lets assume that its a million dollars of term insurance this will create a $1,000,000 credit to the capital dividend account for this corporation of course we saw a few slides ago that the capital dividend account allows the corporation to pay a tax free amount out to its shareholders so now Steve shares are dee
