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Banks need to offset the rapidly rising costs of a broad-based benefits program, but still deliver income. One way to do that is by informally funding the executive benefits plan with a tax-advantaged bank-owned life insurance (BOLI) asset.
BOLI is a life insurance policy you can buy to insure the lives of your key employees. As the policy's beneficiary, your bank gets unique benefits, including the ability to:
These benefits are a direct result of the fact that BOLI offers:
Our unique BOLI service model will help you understand every aspect of the transaction and plan design. We'll also help you implement, monitor and maintain those assets in line with the most current regulatory and compliance requirements.