Cash value life insurance makes Harbaugh college football’s top-paid coach
November 17, 2016 by Jordan Smith
In August, the University of Michigan announced that it had amended its contract with head football coach Jim Harbaugh to include a creative deferred compensation alternative involving cash value life insurance.
The arrangement makes Harbaugh the highest paid college football coach in the country, according to Sports Illustrated and other news outlets.
What most people don’t know, however, is that the compensation strategy was designed to provide Harbaugh with millions of dollars of tax-free cash during retirement. It’s one that can also be incredibly effective on a much smaller scale.
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