PPLI, or Private Placement Life Insurance, is a type of insurance product that combines the tax advantages of life insurance with the investment flexibility of a private placement. It is often used as a wealth management and estate planning tool, particularly for high net worth individuals and families.

In a PPLI policy, the cash value component of the policy is invested in a variety of underlying assets, such as stocks, bonds, and alternative investments. Depending on his tax residence, the policy owner may have control over the investment choices within the policy and can customize the investment portfolio to meet their specific financial goals and risk tolerance.

One of the key benefits of PPLI is that the policy's death benefit is generally tax-free to the beneficiary, and the cash value of the policy may grow on a tax-deferred basis. PPLI can also offer potential estate tax advantages, as the policy's death benefit is generally not included in the policy owner's estate for tax purposes.

It's important to note that PPLI policies are complex financial instruments and need to be customized to your circumstances (residence, beneficiaries, assets).