split dollar life insurance

An arrangement between two people (often an employer and employee) by which life insurance is written on the life of one, though both share the premium payments.

• On the insured’s death or other event terminating the plan, the noninsured person receives the cash value of the insurance as reimbursement, and the beneficiary named by the insured is entitled to the remainder.

— Also termed split-dollar insurance.

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词条贡献者

资深译员Ting，亚洲顶尖法学院国际贸易专业，擅长翻译各类与国际贸易委员会调查程序相关的法律文件。