split-funded plan

Definition of "split-funded plan"
  1. A type of retirement plan that merges life insurance and an investment fund together
How to use "split-funded plan" in a sentence
  1. The company decided to implement a split-funded plan to provide both life insurance and investment opportunities to their employed retirees.
  2. Due to the benefits of life coverage and investment possibilities, Mary chose the split-funded plan for her retirement package.
  3. Given the nature of a split-funded plan, it can offer retirees a secure financial future through life insurance and revenue from investments.

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