Split dollar life insurance is an agreement between two or more parties to split both the costs and the benefits of some type of permanent life insurance. Split dollar life insurance can be used as part of a key employee benefit plan to both attract and retain top executives. These split-dollar arrangements are often used as a type of deferred compensation or as an estate-planning technique for the insured employee. Split-dollar insurance is a versatile arrangement and can be used in a wide variety of circumstances. For example, it is also used as a funding tool for some companies.
There is a wide array of executive benefits and compensation plans available to companies today. The right plans promote stability for your key employees and protect your company’s competitive advantage. Split dollar life insurance can be an integral piece of the executive benefits play you offer your most valued employees. Let our knowledgeable professionals help you develop and implement a benefits and compensation plan.
Call 419-475-8665 or fill out our on-line request form for more information or to schedule an exploratory appointment with our experienced professionals at Savage & Associates.