Rofkahr Consulting

BOLI

The Board of Governors of the Federal Reserve System, the FDIC, the Office of Thrift Supervision and the Office of the Comptroller of the Currency issued an interagency statement on December 7, 2004 providing additional guidance about bank-owned life insurance (BOLI). BOLI is an insurance product that provides an effective way to offset current employee benefit costs or post-retirement benefits.

Typically, a bank purchases a life insurance policy on a group of its directors and officers and over time uses the cash value and proceeds from the policy to recover its employee benefit expenses. BOLI enjoys certain tax benefits (the income is mostly tax-free) that make it an attractive alternative to funds invested in traditional taxable investments. However, there are risks that must be taken into account.

Rofkahr Consulting can provide training about BOLI – its implementation, management, and oversight. Classes can be formal or informal and can take place anywhere. Contact us to schedule a BOLI seminar today!

Request BOLI Training

1. Bank Name(required)
2. E-Mail(valid email required)
3. Phone
4. Attendees
5. Attendee Names

Visitor Verification

1. 
2. Enter the Code Shown Above

 

cforms contact form by delicious:days

Comments Off