An arrangement in which premiums, cash values and death benefits are divided between two parties, usually an employer and employee. In business situations, this may result in the employee having to report an economic benefit cost for tax purposes.
A method of purchasing life insurance where an employee and an employer split the premiums, ownership rights and benefits. There are two types of split dollar plans: endorsement and collateral.
An arrangement in which two parties, usually an employer and employee, jointly purchase the policy, pay premiums and share in the policy's benefits.
A type of life insurance purchase wherein an employer and an employee split the premiums, ownership and proceeds of an insurance policy.
A split dollar plan, when used in an employee-employer situation, is an arrangement under which a permanent life insurance policy is purchased on the life of a key executive, and the premiums and death benefits are split between the employer and the executive (or a third party).
A method of purchasing life insurance whereby the employer and employee jointly purchase the policy, pay premiums and share in the policy's benefits.