San Bernardino California Split-Dollar Life Insurance is a unique life insurance plan that offers a cost-sharing arrangement between an employer and an employee. This type of insurance allows both parties to share the premium, death benefit, and cash value of the policy. Split-Dollar Life Insurance in San Bernardino California provides flexibility in terms of contributions, policy ownership, and beneficiary designations. It is typically used as an employee benefit or as part of executive compensation packages. There are several types of Split-Dollar Life Insurance available in San Bernardino, including: 1. Endorsement Split-Dollar: This type of policy involves the employer endorsing the policy and the employee being the policy owner. The employer pays the premium on a paradigm basis, while the employee pays a single premium. 2. Collateral Assignment Split-Dollar: Here, the employee owns the policy and assigns a portion of the death benefit to the employer as collateral for a loan. The employer pays the premiums, and the employee covers the imputed income tax. 3. Loan Regime Split-Dollar: With this type, the employer makes premium loans to the employee to pay for the policy. The loan amounts are typically set at an interest rate equal to the policy's cash value growth rate. The borrowing employee covers imputed income tax on the loan and the interest. 4. Equity Split-Dollar: This variation allows for the sharing of cash value growth between the employer and employee according to a predetermined formula. The employer pays the policy's premiums, and the employee contributes additional premium amounts. San Bernardino California Split-Dollar Life Insurance provides certain advantages, such as potential tax advantages, estate planning benefits, and valuable life insurance coverage. It is essential to consult with a financial advisor or insurance professional to determine which type of Split-Dollar Life Insurance is most suitable for your needs, ensuring compliance with legal and tax regulations.