What does Split Life Insurance mean? Read on to discover the definition & meaning of the term Split Life Insurance - to help you better understand the language used in insurance policies.
Split Life Insurance
Split life insurance is a life insurance policy that is purchased by two or more parties. The parties can share a number of different aspects of the policy, such as responsibility for premium payments, the death benefit payouts, and dividends. Split life insurance is commonly offered by employers as an employee benefit.
We hope the you have a better understanding of the meaning of Split Life Insurance.