Question

Which type of plan allows an employer to give money to an employee for buying a life insurance policy

and also permits the employee to select the beneficiary?
Split-dollar plan
Employer purchase plan
Key employee plan
Defemed compensation plan


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Answer 1

Split-dollar plan

Step-by-step explanation:

A split-dollar plan is an arrangement where an employer and an employee share in the cost of purchasing a life insurance policy on the employee. The employee is also allowed to name the policy beneficiary.