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Bank Owned Life Insurance (BOLI)

Bank Owned Life Insurance (BOLI) is life insurance purchased and owned by a bank on the lives of its executives; Company Owned Life Insurance (COLI) is that for a public or private company or corporation. The insurance is used to help informally finance and/or offset the cost of the bank’s/company’s employee benefit obligations.

We help design, implement, and fund Nonqualified Plans; however, administering a Plan is a complex process that should have an independent, unbiased perspective. Because of this and our position that reliance upon pre-packaged, vendor supported compliance information does not demonstrate prudence with respect to the purchase of an insurance/benefit plan, EBO works with the leading independent Third Party Administrator, TPC Consulting, INC (www.tpc-consulting.net).
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BOLI Review

The uncertain financial atmosphere that has recently hampered the financial services industry has also had an effect on many insurance companies, including BOLI Carriers.

Executive Benefit Options has had success working with banks in order to analyze existing BOLI programs and identify opportunities to not only bolster credit worthiness but in many cases enhance yield, with carriers NOT AVAILABLE through other National BOLI brokers.

Please contact us to learn how EBO can provide a complementary BOLI review.
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