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Split-Dollar insurance is a shared ownership arrangement of a life insurance policy that benefits both the executive and the company. It consists of three main components: the premium, the cash surrender value, and the death benefit. In this arrangement, the company primarily pays the premium, while the executive may incur tax or loan interest on payments. The executive owns the policy, offering creditor protection, while the cash surrender value is generally assigned to the company, limited to the total premiums paid by the company. Ultimately, interest on the cash value can be utilized to provide retirement income for the executive, alongside the life insurance death benefit.
