Michigan football coach Jim Harbaugh got a big raise in the form of a life insurance policy paid for by the university, providing a real-life example of how life insurance can be used for high-level executive compensation.
The policy is costing Michigan $4 million in premiums this year ($2 million in June, another $2 million in December), plus another $2 million for each of the remaining 5 years of Harbaugh’s contract.
Any guesses on what the death benefit is for the 52-year-old’s new policy? So far I’ve seen guesstimates in the media ranging from $20 million-$75 million.
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The policy is costing Michigan $4 million in premiums this year ($2 million in June, another $2 million in December), plus another $2 million for each of the remaining 5 years of Harbaugh’s contract.
Any guesses on what the death benefit is for the 52-year-old’s new policy? So far I’ve seen guesstimates in the media ranging from $20 million-$75 million.
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