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Split-Dollar insurance is a form of shared ownership of a life insurance policy that benefits executives financially. It involves three key components: premiums, cash surrender value, and the death benefit. In this arrangement, these elements are divided between the company and the executive. The executive retains policy ownership, which offers creditor protection unlike nonqualified corporate benefits. Typically, the company covers most premiums, while the executive bears the tax or interest on certain payments. The cash surrender value is usually assigned to the company, limited to the total premiums paid by it. Additionally, interest from the cash value can be utilized to generate retirement income for the executive.