Bank Owned Life Insurance (BOLI)

For over three decades, banks have implemented bank owned life insurance (BOLI) portfolios as regulators have provided clear guidence on the use of this asset class by banking organizations. During the past decade, utilization rates among banks have soared so that today a majority of banking organizations have BOLI on their balance sheets.
Our firm can help you assess BOLI to see if it makes sense for your bank. If you already own BOLI, we can help you assess your existing portfolio. To do this, we partner with NFP Executive Benefits, which provides our firm the scale and resources of a national company.

NFP Executive Benefits is a separate entity from LPL Financial and Karam Financial Group

Uses and Benefits of BOLI

BOLI is used to offset new or existing nonqualified benefit plans expenses or to offset the costs of existing benefit plans expenses.

The BOLI Planning Process

Together with NFP Executive Benefits, we will consult with your banking organization to assist in developing your goals and objectives regarding your BOLI portfolio. The following is the typical process that we will assist you with:

• BOLI Portfolio Feasibility Analysis
• Pre-Purchase Analysis
• Product Type Selection
• Carrier Selection
• Accounting/Legal Considerations
• Census Enrollment
• Implementation
• Ongoing Risk Management

BOLI Review Services

In addition to working with a banking organzation on a new purchase, we can also perform a review on the existing porfolio. Reviewing your BOLI porfolio on a regular basis is critical to make sure that your organization's BOLI is meeting expectations and is prepared for the future.

Moving Forward

If your banking organization is considering a BOLI portfolio or would like it's existing porfolio reviewed, we are here to assist. With the backing of a national organization, you can be assured that your firm's strategies meet the strictest accounting, legal and regulatory standards.