CELEBRITIES USE OF LIFE INSURANCE
Michigan, Jim Harbaugh agree to increased compensation in form of life insurance loan.
The University of Michigan and football coach Jim Harbaugh agree to a contract amendment increasing total payments form the school to $9 million in 2016. The university will loan $4 million in 2016 and an additional $2 million for the remaining five years to pay premium on a life insurance policy. That is on top of his $5 million salary.