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Split-Dollar insurance is a form of life insurance ownership where the policy is split between the company and the executive. This arrangement offers future income benefits along with a death benefit. The premium, cash surrender value, and death benefit are divided between the company and the executive. The executive owns the policy, providing creditor protection. The company pays the premium, and the cash surrender value is assigned to the company up to the total premiums paid. Interest on the cash value can be used for retirement income.