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split-dollar insurance

[ split-dol-er ]
/ ˈsplɪtˈdɒl ər /
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noun
life insurance in which someone helps pay the premiums for another, as when an employer contributes to the premiums of an employee's policy.
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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021

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