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ABA: Tax-Deferred Income Generated by a Fixed Income BOLI Policy

Dear Council Members,

During the banker roundtable discussions at the CBC Spring meeting, the prospect of using Bank-Owned Life Insurance strategies in this environment came up. Income generated from a fixed income BOLI policy is typically higher than a bank can earn on other investments with a similar risk profile. To give you more insight, ABA's Corporation for American Banking and their partner Equias Alliance has provided this article on the topic.

Tax-Deferred Income Generated by a Fixed Income BOLI Policy:

"BOLI Is Becoming an Increasingly Attractive Option for Banks" originally published on Bank Director.com

Tax-deferred income generated by a fixed income BOLI policy is currently higher than what is earned on other investments with a similar risk profile. BOLI is used to recover costs of employee benefits and offset liability for retirement benefits, helping banks to keep up with rising benefit costs. If the bank qualifies, BOLI is also available with no medical underwriting. If your bank is using BOLI or is considering reviewing BOLI strategies, this overview article from Bank Director.com by Ken Derks of Equias Alliance may be useful: BOLI Is Becoming An Increasingly Attractive Option for Banks.

Equias Alliance BOLI services are endorsed by the ABA through its subsidiary, Corporation for American Banking. Please contact Steve Polestak, spolesta@aba.com for a due diligence report.

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