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In this tutorial, Jamie Hopkins and Steve Parrish discuss split dollar life insurance, a planning technique familiar to many in the insurance and business planning sectors. They explain that the term "split dollar" refers to a situation where one party has a need for life insurance, while another party has the financial capability to cover the costs. Historically, split dollar life insurance was extensively used for retirement, death benefit, and estate planning. However, following changes made by the IRS in 2003, its application became more regulated due to concerns about excessive use. The discussion aims to clarify its purpose and intricacies for those less familiar with the concept.