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Private Split-Dollar Life Insurance Agreement Cross-Purchase Funding Speciman Documents

Private Split-Dollar Life Insurance Agreement Cross-Purchase Funding Speciman Documents 2026

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The document is a specimen of a Private Split-Dollar Life Insurance Agreement, specifically for cross-purchase funding. It outlines the terms and conditions under which a life insurance policy is purchased and maintained by an insured individual, detailing rights, premium payments, beneficiary designations, death benefits, and termination clauses. The agreement emphasizes the need for legal counsel and compliance with applicable laws, particularly in light of IRS regulations affecting split-dollar arrangements.

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Click ‘Get Form’ to open it in the editor.
Begin by filling in the date at the top of the document. This is crucial for establishing the agreement's effective date.
In Article I, enter the name of the Buy-Sell co-owner and Insured. Specify the initial face amount of the life insurance policy.
Proceed to Article II, where you will confirm that the Insured will pay all premiums necessary to keep the policy active.
In Article III, outline specific rights of ownership for the Insured, including rights to policy loans and cash withdrawals.
Designate beneficiaries in Article IV, ensuring compliance with any existing agreements regarding death benefits.
Complete Articles V through XI by detailing payment structures, termination conditions, amendments, and governing laws as applicable.

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