Asset protection strategies are gaining the attention of wealthy persons as the legal system is becoming increasingly subject to predatory and unwarranted litigation.
For businesses, life insurance can provide protection against the risk of losing a key employee, life insurance can fund a deferred compensation plan or a succession plan, or life insurance can be utilized as part of a split-dollar arrangement.
A split dollar insurance arrangement is a strategy that divides the premium, ownership interests, and benefits of a permanent life insurance policy between tow parties.