About Us Famous & Spang Associates a full-service, generalist insurance agency representing many top rated insurance carriers, was founded in Aberdeen, Maryland circa 1909.

What Is a Split-Dollar Life Insurance Plan and How Does It Work?

What Is a Split-Dollar Life Insurance Plan and How Does It Work?

A split-dollar life insurance plan is a valuable arrangement that you might want to consider. The life insurance plan shares policy costs and proceeds. How does a split-dollar life insurance plan work? What types of split-dollar plans are available?

A major concern for many people is plunging their households into financial hardship when they die. Purchasing a life insurance policy can help avert that problem. If you hold a critical role at the company you work for, the company might want to retain you for as long as possible. In that case, the company might chip in to help secure your family’s financial future when you pass away and a split-dollar contract would come into play.

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As an independent agency, we are here to help you find the right coverage.

Famous & Spang Insurance

Aberdeen, MD

200 W. Bel Air Ave.
Aberdeen, MD 21001

Phone: 410-272-2300
Text: 410-449-7540
Fax: 410-575-6927

We write insurance solutions throughout the Mid-Atlantic Region and beyond.