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Split Funding

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split funding
The purchase of more than one financial product with the same payment. For example, some financial programs combine life insurance and a mutual fund into the same package, with each customer payment being split between the two.
Split Funding
The act or practice of using a single amount of money to buy two or more investment vehicles. Split funding is most common in insurance; for example, the premium for an insurance policy may be used to both maintain the policy and to buy shares in a mutual fund. Whole life policies operate on split funding: part of the premium pays for the benefit on death, while another part is placed in a special savings account one may redeem.


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