What it is:
- Life insurance in which the premium is split between employee and employer
 - Death proceeds and cash value are also split
 
How it works:

Advantages:
- Provides substantial life insurance to employee
 - Offers employers premium cost recovery or more depending on agreement
 - Shares life insurance cost between the employer and its employees
 - Provides tax-free life insurance proceeds
 - Established and administered easily – no formal IRS approval is necessary
 - Offers low-cost permanent life insurance protection to employee and may also provide tax free retirement cash flow by loans and withdrawals